Will crypto banks replace traditional banks?

[Legion]

they will make improvements to the development so that nothing will replace.

[Noverteno]

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

Traditional banks will in any case exist as long as states exist on our planet.  The banking system provides financing and stable operation of the economy of each state, and also serves the financial and economic activities of enterprises of all forms of ownership.  Cryptocurrency banks will not be able to perform these functions.  Therefore, traditional banks will exist for a very, very long time.

[trauchot]

So far, cryptocurrencies are legalized in few places, and if more countries will begin to legalize cryptocurrencies, then this is certainly possible, but so far too many countries are opposed to cryptocurrencies and unfortunately, for now, traditional banks will continue to exist, but let's hope that soon crypto banks will begin to appear and then cryptocurrency sphere will soar to new heights.

[jonathancool220]

The bank will not be defeated by anything because the bank has become a legal financial institution for the state and this includes state banks and private banks.
Crypocurrency is still difficult to move if you have to meet with the government in a country because the government wants to see its citizens remain stable and calm, unlike cryptocurrencies which change all the time.

[vegasus]

The answer is no, it will be never. Although the technology is changing and the bank is very old to still use, in fact, many countries still can't implement the bank crypto at all. In this case, Blockchain needs a certain time of always understanding sometimes with its difficulties

[hair]

The answer is no, it will be never. Although the technology is changing and the bank is very old to still use

Yeah. banks are owned by the government whereas crypto belongs to everyone. How can a bank be replaced by crypto if no one controls it ?? I think it will still be a bank and crypto will still be crypto

[ranaprime]

"Within a few years, a younger generation of financial services customers are going to be able to walk into a bank and gain access to credit products, savings accounts and investments that can host both crypto and fiat assets. In fact, the inroads that will allow for all of this to happen are already breaking ground.
...
Consumers will soon define a “full service” bank as one that offers financial services in both crypto and fiat. The time to start acquiring the necessary tools of the crypto banking trade is right now. Banks need to start adapting or get left behind. Make no mistake about it."

Article: Crypto banks are going to swallow fiat banks in 3 years — or even less

What do you think about this issue, whether crypto banks can compete and soon replace traditional banks in the future? Personally, I think this is difficult to happen because the current number of crypto banks is very modest compared to the number of traditional banks. Even in the most optimistic scenario possible, if banks around the globe implement an efficient method of transaction (maybe Ripple), they will only accept stable coin rotation or CBDC to be able to Compliance with monetary regulations of governments.

I am not agree with the concept. Crypto can be make new bank but not instead of Traditional Bank. We know that In traditional bank fiat money or hard money transect by the local people of the county and Crypto never take the position of fiat or hard money. In the same way Crypto Bank Change the Traditional Bank it is impossible.

[Mexite]

We have to be realistic here, I don't think that traditional banks will be replaced by crypto banks. They may however coexist. Because as long as we still have government and traditional institutions, they'd still need to control.

[flyaccount]

I think one day it will happen. Especially in the future there will be more and more people aware of technology. And more and more people will join Crypto. So I believe Crypto bank will be able to replace traditional banks.

[Fadhilz123]

I have traveled to many places in my country but I never seen any crypto banks, and I think our government will disagree to replace traditional banks because the state income will decrease. So the crypto bank will not replace traditional banks

[Riya143]

Traditional banks in developed countries can create their own currency for trading. However, cryptocurrency is not allowed in banks in most countries. Once approved, traditional banks will be able to create their own currency. Transactions are also not allowed, so it is not possible to introduce such currencies in traditional banks. So we have to see in the future, these are more likely.

[tonymillions84]

IF crypto banks are to replace traditional banks, then fiat money might has no usage. the best option is both system to work together to bridge the gap between the unbanked and the banked. i think it is a better way of decentralizing the globally economy and reducing monopoly  of business. where one person or group of persons are in total control of the economy.

[azmirihaque]

I think it is not possible to replace traditional bank with crypto bank in the near future. Fiat money can be used for a medium of exchange but still we are unable to use crypto as a medium of exchange. When all the countries of the world will permit to use bitcoin and it will be used as a medium of exchange then the question of existing traditional Bank may come.

[Methos]

Based on the rapid change and growth in digital currency, its possible to switch in modern technology in future, currently digital currency and transactions are now patronising due to its conveniency and  soon it will become a new platform.

[IyemRoker]

It feels difficult if traditional banks are defeated by Crytpocurrency Banks because all the people in this world already understand and trust traditional banks more than cryptocurrency.
Cryptocurrency is like something new in this world and maybe soon it will fade if its lovers leave it and prefer transactions with traditional banks. Cmiiw