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.
Banks will stay as deposit, withdraw, lend and save. Banks normally earn profit from you own savings. In the presence of cryptocurrencies, banks needs to update themselves, or, they will seek advice to the government to ban bitcoin because of its negative effects to banks. For example, instead of putting your money in the bank, people prefer investing in cryptocurrencies.