Post
Topic
Board Economics
Re: Will banks go on extinction if they do not adopt cryptocurrencies?
by
Orpichukwu
on 15/05/2025, 23:30:27 UTC
No I don't think he meant bank supporting crypto is the way but rather than the economy system where regulation policies and market manipulations had been thriving on appreciating recessions.
Obviously the CBN has lost it reputable qualities on printing excessive monies for cash cushion and as it's, the fiats has lost it value so whalers are diverting to have their fund stored in bitcoin as store of value which is a reliable source rather than say it's crypto.
Fiat has lost its value, but we still can't do without fiat. The banking system will always be needed to some point, but their business won't be booming the way it was in the past decades if they don't adapt to trends and what people are interested in. Indeed, they will run out of business pretty soon.

Their policies, charges, low interest on savings, slow transactions, etc., will make all their customers move away from using it. In terms of overprinting local currency, which has ended up devaluing it, that's the decision of the central bank in collaboration with federal inflation won't want anyone to save in their local currency.