Post
Topic
Board Economics
Merits 1 from 1 user
Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
by
Punisherx100
on 17/02/2018, 08:55:07 UTC
⭐ Merited by kupido14 (1)
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Well, obviously they might experience a decrease in their profit or worse to closed their business. This seems possible for we are in the digital age today and as time goes by, technology becomes part of each individual's life, including those in rural areas. Maybe some business will closed but I am pretty sure that new business will arise.

Therefore, a large possible deficit is only to the old businesses like banks but it brings a chance to the new crypto related  business to sustain the needs of our economy. Maybe it brings negative outcomes to some specific businesses but it was good in general, a  new start for this developing world.

btw, are you a teacher? your name seems familiar.