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?
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https://www.hb-wallet.com/post/2018/12/20/can-blockchain-replace-banksThis will likely happen in the future if the governments will not try to stop the Blockchain virus but as what I see if the adoption will continue to spread. Most of the governments will find a way on how they can turn the table by adapting the future of Blockchain while taking a control of it.
If banks will disappear someday, then there is a big possibility that the bank owners will move to Blockchain industry and continue their operation.
- Considering the development of blockchain is staggering when it is only in a few years, its reputation has risen very high, it forced the government and industries to have more research on it but after a while learning about it, perhaps the application will reach a certain limit and not be as widespread as we expect. Because the blockchain has irreparable disadvantages as we cannot fix it when the contract is confirmed while transactions in the bank often occur mistakes, forcing banks to repair transactions, that makes blockchain in the banking industry not particularly interested