Post
Topic
Board Economics
Re: Bank's loss crypto's gain?
by
michellee
on 24/08/2020, 06:28:34 UTC
Whatever banks do, they will not lose the trust of some people, because the meaning of the bank is authority, the meaning of paper money is the trust given by the state. Western European countries with strong banks are in a different situation. In the Middle East and Asia, they have been exposed to many bank frauds over the past 50 years. As a result, the bank's hand is strong.
So the conclusion to this - the banking era will only stop when current "grownup" generation will extinct.
Statistics shows that most of the crypto market usership age is below 27 or something.
Answering the main question tho - crypto is part of global economy now as well as banks, so there is no clear correlation between loss of one and gain of another
The banking era will not stop, but maybe the banking will evolve following the new era. In developing technology, banking will try to use the newest technology, and the banking will integrate its system with the new one. That can give a chance for the banks to still survive in the country. Besides that, people will still use the banks to make the transaction.