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.
1) I would agree on banks investing in cryptocurrency eventually, but it's only and only for
the Banks and not with the clients.
2) This I can see in the future, banks being intermediary between clients and the blockchain, like any other online exchange. Could be very convenient for the mass.
3) I'm skeptical about this. It's very risky to use Cryptocurrency as Medium for Loans. Also, this is what the majority of people disliked, being centralized.
4) I'd rather save my Cryptocurrency on my own storage rather than "
entrusting" my money to a third party who by the way will probably have access to my personal information. And the worse thing that could happen is being stolen by hackers.