Quote from: magneto on November 07, 2018, 09:23:34 AM

Quote from: UconBit on November 01, 2018, 08:04:56 PM

https://www.cnbc.com/2018/11/01/fintech-banks-face-extinction-phase-amid-new-financial-technology.html
Rapid changes in financial technology, or fintech, are shaking up the global banking industry.
Banks must adopt new technologies to survive an ongoing extinction phase wrought by such tech, according to Stephen Bird, Citis global consumer banking CEO.
While new technologies cannot be ignored, bankers say the primary aim is to use them to provide the best service to customers.
Hard figures on how much the new wave of technology has disrupted retail banking are hard to come by, but analysts have stressed that the challenge is real.
Do you think the tech here includes blockchain and crypto?

I realy don't think that banks will be "extinct" any time soon.

Even with blockchain and bitcoin potentially going mainstream in the very near future, it is foreseeable that banks would simply start offering services that integrate these technologies instead of being totally replaced by them like many others have suggested.

To me, it's obvious that banks right now can only stay relevant if they are able to adapt to changes in technological trends, which includes cryptocurrencies. I wouldn't be surprised if banks start using blockchain ledgers to keep internal records in the near future and offer investment packages revolving around crypto as well, in order to suit demands.

I do not even think they will extinct at all. Considering the fact that banks have always known ways to at least play their games effectively and how we are even seeing them come up with some possibilities of capturing the attention of few people who want to be a part of the crypto space but do not know how to, I believe as time goes on, the banking institution will always have a way to stay relevant.

The facilities are already there, all it takes for them is just to blend in and add a crypto related service to one of their features. From my own perspective though, this is one thing I feel would end up happening, which would bring about some level of coexistence in the long run.