Ninjastic
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Re: Can Bitcoin make Banks disappear?
by
kevinfox18
on 24/01/2018, 21:53:45 UTC
Quote from: BTCBinary on January 12, 2016, 02:40:58 AM
It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.


"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?





Probably banks might disappear (no longer function as they do now). But this can only happen if bitcoin becomes a widely accepted currency, then we will see worldwide adoption of bitcoin. If a country still keeps fiat/real money as it's main currency, then that country would need banks.