Quote from: wahyu wida on January 14, 2019, 01:55:27 PM

Quote from: voltesbit777 on January 14, 2019, 01:47:02 PM

Quote from: Scripture on July 19, 2018, 06:05:00 AM

Many says that banks would become obsolete if cryptocurrency would take over the world in the future, but i guess not. Here are some of my assumptions on what would be the situation of banks in the future with cryptocurrency.

1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.

2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.

3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.

4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.

As you see, banks would rather adopt than being extinct. Its like those businesses who innovates when society changes. If cryptocurrency overpower the economy, they should go with the flow to survive

I believed bank in the near future will adopt crypto currency. Because as far as I know there are some bank in the other country now which is started to adopt its concepts anyway, even here in my country though there are few as of the moment, for sure to other banks they will do the same thing. And that's right, go with the flow is the best solutions anyway for them to survive.

before they agreed to Krypto, blockchain was approved as a supporter of their activities because support was more effective because it used a decentralized system

Block chain is good as it has popularity and its good to secure a centralized and decentralized system at the same time. Banks are now competing with crypto because people left using banks and invest in crypto to save their money for long term. Thats why I think to overcome the popularity of crypto banks will have to struggle allot.