Will crypto banks replace traditional banks?

[Quantum X]

Crypto bank will never be able to replace the traditional bank. Traditional bank is a system where someone can inquire directly and the very reason why people are trusting there fund because of its visibility. In digital world we trust the project that has a product so the same with the bank, it would be hard to entrust your money without physical contact. But I believe crypto will influence traditional bank to make their service better like never been before.

[EthereumDev_]

Crypto bank will never be able to replace the traditional bank. Traditional bank is a system where someone can inquire directly and the very reason why people are trusting there fund because of its visibility. In digital world we trust the project that has a product so the same with the bank, it would be hard to entrust your money without physical contact. But I believe crypto will influence traditional bank to make their service better like never been before.

indeed nothing can replace the function of traditional banks but I am sure that in the future everything will shift to the digital world, which means that banks must have technological developments and combine technology with blockchain platforms, meaning that local banks must keep up with the times because otherwise they will go bankrupt.

[Blaze]

Crypto bank will never be able to replace the traditional bank. Traditional bank is a system where someone can inquire directly and the very reason why people are trusting there fund because of its visibility. In digital world we trust the project that has a product so the same with the bank, it would be hard to entrust your money without physical contact. But I believe crypto will influence traditional bank to make their service better like never been before.

indeed nothing can replace the function of traditional banks but I am sure that in the future everything will shift to the digital world, which means that banks must have technological developments and combine technology with blockchain platforms, meaning that local banks must keep up with the times because otherwise they will go bankrupt.

well I totally agree with what you say.

[Alcor]

Due to cryptocurrencies being decentralized, it will be quite difficult to merge or replace traditional banks because regulations can't be avoided. Perhaps, in few generations to come more traditional banks will partner with crypto banks especially those who are already introducing official digital currency like China.

It's not even about the decentralization of the cryptocurrency. Traditional banks, primarily state-owned, are part of the state and therefore they will never disappear and will not be replaced. Banks perform many of their specific functions and therefore cryptobanks will never replace them. Everything related to digital currency and cryptocurrency will exist in parallel with traditional banks.

[Vladok]

Probably not in the near future, as people are used to fiat banks and it will take time for people to adapt to crypto banks.

[lepbagong]

Probably not in the near future, as people are used to fiat banks and it will take time for people to adapt to crypto banks.

I don't think it will be that fast because it takes time to adjust, which is certainly not easy to do. If I prefer to stay like now and am good,  just need to improve to support each other.

[mohdelayo]

The idea of replacing the traditional banking system is something that will eventually come to pass. However i believe we are still going to be seeing the traditional banking for a very long time, even when crypto and blockchain banking becomes much more popular. Gradually they will be wiped away

[H2O]

Day by day cryptocurrency becoming more popular and usable. People are all corners of world investing cryptocurrency, hence one day we have no need traditional banking systems. One day we all use cryptocurrency Bank and cryptocurrencies atm booth.

[tervel]

Some of the banks began to develop banking products and services that support the cryptocurrency ecosystem. Building bridges with the more established world of fiat finance in the process. Nevertheless banking sector it looks will fight for his ground.

[yetti]

Some of the banks began to develop banking products and services that support the cryptocurrency ecosystem. Building bridges with the more established world of fiat finance in the process. Nevertheless banking sector it looks will fight for his ground.

well, I think it is necessary to develop to use cryptocurrency on the platform and technology because if it is not like that it will make the bank collapse and bankrupt.

[Renampun]

we don't know the future but I think there is a possibility...
if making transfers and payments is legalized and in mass adoption then we no longer need banks, because most people use banks for that.

[masterrex]

IMHO, I think crypto Banks is a good option, But to replace the entire traditional banking system in just three years? for me it's not possible to happen even in a decade, Because the traditional Banking system is too big and we are talking here globally, thats why it's not easy to replace it, in just a few years, What I believe is the traditional banks and crypto banks will be working together side by side to prepare the world about the new digital finance revolution.

[Hope4life]

I think the traditional bank will still exist because people still need it. But I see that there are several banks that are implementing this crypto technology, when everyone has adopted crypto, the bank will issue their own version of crypto.

[Joyjoyce0]

Banks and other financial institutions will themselves adopt cryptocurrency, and in the future switch to crypto in place of fiat. Recent we heard of PayPal adopting of cryptocurrency on their platform.

[LaZim]

Probably not in the near future, as people are used to fiat banks and it will take time for people to adapt to crypto banks.

I would say that it will never be replaced. Cryptocurrency is difficult to track and there will be a lot of scammers around this area. You can store all your money right now not in a Bank, but in a cryptocurrency, but if the cryptocurrency becomes worthless in one day, then who will you complain to later.