Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.
the presence of cryptocurrency does have an influence in all areas, especially the world of banking and finance. many of the negative effects that affect the banking world, ranging from reduced investment in the banking world, reduced exchange rates between countries and currency market movements that move rather slowly than before. for every bank that has joined cryptocurrency it's time they think of investment services in the form of coin and think about how the bank gets the profit, so the minimum activity of the bank can survive.
It is too early to say about how much crypto currency is going to effect the banks, but yes, banking transactions will be effected in the time to come. Now all we have to see is what all policies banking industry is going to introduce in the era of crypto currency.
It will be a challenge for them because the financial system so far was centralized and crypto currency works on the phenomenon of decentralized currency