Post
Topic
Board Economics
Re: Can we totally eliminate all the banks in this world?
by
soham
on 26/09/2017, 18:23:17 UTC
What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?

https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/

The statement of the thread and the subject line doesn't match with each other. Let me go with the subject line only. No the crypto cumminity doesn't have the power to eliminate the banks or the banking sector in any way. Banks are so deeply rooted in to our society and economy, it can't be eliminated. The more the technology will evolve, banks will also evolve with the same to survive themselves.

It may happen that they accept bitcoin in future if they see a huge opportunity and also get the support from the government. But they will not become a destroy-able entity in any way.