Quote from: Wiwo on June 03, 2024, 08:14:42 PM

Quote from: G-aluminum on June 03, 2024, 01:18:10 PM

Considering how bitcoin might shape the future of finance, it’s potentially impact on traditional banking systems and regulatory challenges it’s may face

Bitcoin doesn't have any inter connected role as banks so it not going to Shape the financial landscape in the now or in the future, bitcoin role is simple, bitcoin is an alternative to fiat currency and also an assets which have long term value, bitcoin asset role plays significant duty mote than bitcoin currency roles because not everyone accepts bitcoin only a few scanty shoos accepts bitcoin for payments of goods and services, but when you talk about bitcoin as an asset, there you have huge community of investors and bitcoin holders.

There's no interconnection role between Bitcoin and banks, because it's a decentralized digital cash while fiat currencies are centralized, therefore their functions are different. Central banks controls their fiat currencies while Bitcoin doesn't have any central office that controls it, it gives it's holders privacy and freedom to carry out p2p transactions without any third party interferences. The aim of Bitcoin creation is not to eliminate fiat currencies or banks, but to be an alternative currency for payments and also for those that seeks privacy in their transaction

When you talk about blockchain technology, then you have a point, because blockchain I going to play an important role in the banking sector in the future, and alot of development are already underway and aimed at advancing financial sector through adoption of blockchain as a tool for banking

Bitcoin has made the use of Blockchain technology to become popular, perhaps banks can adopt it as a trial in the future.