Hello everyone a very good day you all.
So, let’s talk about this interesting duo: cryptocurrency and traditional banking. Some say traditional banks are threatened by crypto’s rise, while others think they’re starting to see the potential and hopping on the bandwagon. Either way, it’s a fascinating dynamic to watch unfold. What do you think? Are they destined for a happily ever after or is this just a temporary fling?
Let me know your thoughts on this.
Nope- I do not think that cryptocurrencies pose a threat to traditional banking methods and banks in general.
Remember that paper currencies will always prevail due to the regulation and strict implementation of cryptocurrencies across all countries. If you can also see, paper money is the main method of currency that is being used as the medium for each country. Not to mention, there are several countries that prohibit the utilization and usage of BTC on their country which poses another problem for the latter.
The only time that cryptocurrencies will pose as a threat to traditional banks is when there is a massive shift in a form of currency, which I do not think that will happen anytime soon even in the near/distant future.