Ninjastic
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Re: Can Bitcoin make Banks disappear?
by
snedyolo
on 30/01/2018, 11:57:52 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?



Well if banks won't learn to accept bitcoin, then that could be a problem. It could lead to their downfall because if people were to start cryptocurrencies and not use the Fiat system anymore all the banks all over the world will be irrelevant. Sooner or later they must learn to accept it. After all, it is not that hard to do with the resources that they have.