For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.
Do you think bitcoin will replace Banks in the future?
Cryptocurrencies especially bitcoin do not need banks, so i think bitcoin can only replace banks if the world will be a cashless society because banks will lose its purpose and cash will never be existed. Until there are still physical money, banks will still exist and cannot be replace by bitcoin.
For this reason some technological thinkers are very enthusiastic about digital currency, because banks will only monopolize the financial system with its one-way practices.
although it is to replace it for a long time, because we have been accustomed to using cash rather than start studying digital money technology.