Will banks use privacy coins ?

[apolinar]

I am thinking about this.
Step 1 - banks discover blockchain - Checked.
Step 2 - banks integrate blockchain internally - Checked.
Step 3 - customers will have digital wallets from banks -  Not there yet.
Step 4 - banks integrate privacy coins internally.
Step 5 - customers will have privacy coins in their digital wallets from banks

[Bobcrypto]

As a matter of facts, banks are already in fear about a strong competition on the Blockchain technology. I think the earlier the banking sectors introduce the Blockchain into their system, the better survive eminent competition. Some bank has started introducing Bitcoin to their customers in the US and gradually they may begin the developments of their Blockchain in near future.

[apolinar]

Interesting perspective. I also believe that eventually banks will start using cryptocurrencies. Due to the Bank Secrecy Act, I will they will need to use privacy enhanced ledgers. This is why I will eventually banks will start adopting private coins like Monero or Pandora Cash. To keep their ledgers safe and hidden for other actors. Then, having this kind of ledger they might pursue to allow certain users to have more privacy in their financial transactions.

[Hisbullah]

As a matter of facts, banks are already in fear about a strong competition on the Blockchain technology. I think the earlier the banking sectors introduce the Blockchain into their system, the better survive eminent competition. Some bank has started introducing Bitcoin to their customers in the US and gradually they may begin the developments of their Blockchain in near future.

it's good news if the banks has started to introduce bitcoin in their customer.
It will have good effect for crypto world.
But I think It's just several banks, because the government don't allow bitcoin and crypto yet.

[anshor1]

I think the banks should adopt Blockchain  technology or allow bitcoin and altcoin for their customer.
Maybe we can buy crypto by banks.
But I agree with the opinions above, It needs government regulation.

[MrSpasybo]

Banks are tools of governments, and governments don't like privacy coins like XMR or DASH. If accepting crypto, banks will choose BTC, ETH or stable coin, they will not accept privacy coin.

[pelana vreo]

Banks are tools of governments, and governments don't like privacy coins like XMR or DASH. If accepting crypto, banks will choose BTC, ETH or stable coin, they will not accept privacy coin.

I agree with you, even big exchanges like Coinbase are removing privacy coins, as we know, all transactions in the world are almost entirely using Dollars, I don't know what they (Banks) are thinking.
There are still many ideas that haven't been put to use on blockchain, whether governments are afraid of transparency or they're afraid that crypto is out of control. This is a question for many parties, because until now cryptocurrencies such as BTC have not been legally recognized for their transactions.

[Noverteno]

I can say with confidence that banks will not use decentralized privacy coins. These coins are simply incompatible with banking. If banks need to strengthen privacy, they will implement something of their own and centralized.
Banks have implemented and will continue to implement blockchain technology, as it gives them the opportunity to dramatically improve the efficiency of their banking system. Therefore, here the OP is trying to combine what can never be combined in the operation of the banking system.

[doc]

Banks are tools of governments, and governments don't like privacy coins like XMR or DASH. If accepting crypto, banks will choose BTC, ETH or stable coin, they will not accept privacy coin.

You're right, privacy coins asuch as XMR and DASH can't be tracked.
I think the government didn't agree with this coins , Banks will never accept privacy coins.
Yeah, BTC, ETH, BNB are better  being allowed in banks

[TomPluz]

Banks will never be adopting privacy coins all because governments are more wary with privacy coins than the usual cryptocurrencies...and banks are under the regulating power of the government so they will never ever want to destroy the kind of relationship they got with the governments for decades. But I am seeing the possibility of banks having their own wallets which their customers or clients can download and use. I think am already seeing this now a big reality with some financial institutions especially those who are into remittance or money transfer business but of course am not sure if they are decentralized or not.

[Cakra bumi212]

maybe what should be considered before banks adopt crypto is the volatility of the price of this cryptocurrency, because this will be a financial problem in the banking world if banks actually adopt crypto as an official means of payment, and can affect the stability of financial institutions

[DAMKAR]

maybe what should be considered before banks adopt crypto is the volatility of the price of this cryptocurrency, because this will be a financial problem in the banking world if banks actually adopt crypto as an official means of payment, and can affect the stability of financial institutions

That's the fact, crypto is volatile.
Maybe banks can use stable coins not allow privacy coins,.
It will happen soon.
because at several countries blocked privacy coins, suspect for illegal activities.

[Senin]

Decentralized privacy coins and banks, these concepts are simply incompatible. Banks will never use them. Banks have completely different principles of work and the secrecy of information about customers for the banks themselves does not suit them. Also, decentralized cryptocurrency in general is not suitable for them.
For their purposes, they will use their own digitized currencies, as well as various regional currencies at the interstate level.

[bayiajaib]

Decentralized privacy coins and banks, these concepts are simply incompatible. Banks will never use them. Banks have completely different principles of work and the secrecy of information about customers for the banks themselves does not suit them. Also, decentralized cryptocurrency in general is not suitable for them.
For their purposes, they will use their own digitized currencies, as well as various regional currencies at the interstate level.

You're right, I also agree with your opinions banks will never use privacy coins.
Almost all bank are centralized system.
Maybe banks will have stable coins , but not privacy coins.
that's my opinion.

[smart_oa]

The privacy coin is well suited to centralized authority. The banking system is highly centralized and they do not want to publicize their user data. But the bank will make sure they can track everything else. It will not be something like an open blockchain where everyone can see any transaction. Banks can use something like a partially private coin.