Quote from: logicgate on November 07, 2019, 01:25:39 PM

Quote from: Polar91 on November 05, 2019, 11:44:05 PM

Quote from: Faxmate on November 05, 2019, 08:53:01 PM

Quote from: salty on November 04, 2019, 06:16:06 PM

Quote from: iTradeBit on December 08, 2018, 04:52:26 PM

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

It is difficult to draw conclusions.I think that the traditional financial system will exist together with cryptocurrency.As You can see that many countries still have a negative attitude to cryptocurrencies.The market needs more time to mature.

But there are also countries that are adopting it for boosting their economy. This is normal to have people going against the idea of crypto currencies because governments are hesitating in declaring this market complete legal. I believe government shall find out a way of combining traditional currencies or investment market with crypto in order to take advantage from the unique features of crypto market.

Crypto market doesn't need the bank in order to take an advantage since it can standalone by itself with just a help of local exchange which should be regulated by the government. On the other hand, bank may need crypto in order to rebuild their system, develop it, and then make it more convenient and reliable at the same time in a way that its integrity remains intact.

Crypto currencies have clear cut advantage over traditional markets or banks. As we know that bitcoin and crypto currencies are not depending on government or any other contemporary market for their survival but vice versa could happen. There are maximum chances of banks especially the international ones of adopting blockchain technology in order to stay updated and stay as means of customers interest.

I don't get it. Isn't Bitcoin created to eliminate the presence of banks and make it peer to peer. That's why I think that it is quiet contradictory to bank in crypto. I don't think that that would happen because we can be a bank of our own money ourselves isn't it. You can make it very secure by purchasing cold wallet and store your private keys away from any digital devices. Also if we talk about the government then honestly I think that it can't be avoided if you envision it be adapted throughout the world.