Re: Can Blockchain Replace Banks?

Quote from: Unblock_news on July 11, 2019, 02:37:31 AM

The creation of blockchain came with possibilities and predictions of a future where intermediaries could be eliminated entirely. It is capable of executing millions of transactions within seconds at a lower transaction cost and requires no centralized authorization.

With the blockchain trend going on as strong as the moment, is it possible that blockchain will replace banks any time soon in the future?

More here: https://www.hb-wallet.com/post/2018/12/20/can-blockchain-replace-banks

Certainly no since fiat to Cryptocurrency conversion vice versa still needs bank. Without banks people can't buy crypto with their fiat, the same way crypto holders wouldn't be able to sell their crypto to fiat. Banks are considering using Blockchain for their transaction process, in fact there is already one bank from the Philippines which uses Blockchain already which you may find more details here: https://www.google.com/amp/s/www.coindesk.com/philippines-unionbank-launches-stablecoin-conducts-first-blockchain-transaction-by-bank%3famp