Traditional banks in the crypto economy of future

[Galley]

Traditional banks, as we now understand them, will not disappear anywhere for a very long time. Cryptocurrency is of course very good, but it is not suitable for government regulation. The means of payment must be backed by the product being produced, and what the cryptocurrency is backed by, if not the dollar, for example. And how, then, to refuse it.

[pelana vreo]

I've heard a lot that these traditional banks will make their own coins sometime in the future. And I am sure that if this happens, then of course crypto will be more advanced and more so.

The bank will make stablecoin, as we know, there are a lot of stable coins and it is not really a problem, but some rules in the bank still do not accept crypto for payment, if the bank and crypto go side by side, I think everything will look good and Bitcoin will become the main asset to replace gold and make digital gold with high prices in the market

[Noverteno]

One day I believe that this traditional bank will be able to make their own coins. Because indeed this is very profitable for traditional banks to add products by making their own coins.

Of course, in a few years, a significant part of the states will issue their national digitized central bank currencies, that is, their stablecoins. They will partially replace other non-cash payments and partially cash paper money, since they have a number of advantages over them. However, all the same, other types of payments should coexist, and cryptocurrencies should also go along with all of them.
Central banks and other banks in the banking system will also continue to operate successfully and will not go anywhere. After all, they are under the strict protection of the state.

[Fenix]

Traditional banks will not go anywhere and will still exist. It is naive to believe that the world economy depends on the release of some kind of crypto. Not a single Facebook produces a real product with added value. So the Facebook token does not carry any technology, but only an attempt by the owner play in the king.

Stable coins like Libra / Diem don't really pose much of a problem for governments. States can destroy them very easily if they wish. Since almost all of them are backed by fiat currencies of states, states can make it illegal to use their currency to back other currencies without their consent and thus outlaw them.
This is roughly what the Chinese government is doing now, securing its exclusive ownership of both the ordinary and its new digital yuan. Therefore, it is quite possible that in the future only stable coins of states may remain, that is, their digitized currencies of central banks.

[Senin]

Sooner or later, traditional banks will disappear.  the time will come for a single currency that does not recognize borders.  Any cryptocurrency evangelist believes this - must believe ...

Dreaming, of course, is not harmful. However, in reality, the banking system will not disappear anywhere. The emerging cryptocurrency does not threaten it yet. Banks will use blockchain technology to improve their own national currency and will issue their own stablecoins.
If in any way the cryptocurrency influences banks, states will intervene and remove this threat by certain regulation of the circulation of cryptocurrency, up to and including its complete ban if necessary.
The banking system serves the economy of each state and therefore will always be under the control and protection of states.

[Mas Bro]

Traditional banks are very famous in the world, because traditional banks have a big role in the global economy. So far, people who invest in cryptocurrency through traditional banks all over the world. Traditional banks can take a variety of steps for cryptocurrency transactions. the existence of a traditional bank will not disappear, besides that it depends on the conditions of the community and country respectively.

[Freemind]

@Mas Bro I agree with you that banks will not disappear, but their business model will disappear. Banks know perfectly well that a business model based on such old ideas and solutions cannot remain in the digital world we live in today. They must merge with new technologies and move on if they do not want to disappear permanently, although I would not mind if they disappeared, they are responsible for some of the greatest misfortunes of humanity.

[Delgboke]

I think that's one of the major reasons traditional banks system are fighting Cryptocurrency seriously making sure that Cryptocurrency does not exist because of its innovative power at the moment,the more they try the more Cryptocurrency technology is pulling more stronger in the global financial system, but one day the traditional banks will have no options but adopt the Cryptocurrency system as the medium of payment.

[Fivestar4everMVP]

Well, in as much as crypto currencies are here to stay, I personally think that fiat currency is going to continue to exist for a very long time, and as long as fiat currencies still exist, then there will be need for banks to store them and deliver them to citizens when in need, also we should not forget that the value of cryptos is still drawn from fiat usd, every coins and tokens worth are still calculated using the US dollars, and until crypto becomes independent on the US dollars for its value, I think fiat will continue to play a big role in the crypto system and hence, will continue to exist as well as the banks.

[aiviaa485]

Traditional banks will not disappear but will be the best partners for cryptocurrency.
The simple answer is that all cryptocurrencies when withdrawn will switch to traditional banks and this will really make for a better future.
Cryptocurrencies will continue to be alongside traditional banks to continue working together.

[Freemind]

Nor should we doubt that banks will do their best to "get closer" to cryptocurrencies. Some banks already did it years ago by investing in Bitcoin, and they have been the smartest. Soon the rest will, they may not invest, but they will be as friendly as possible so as not to lose the large percentage of commissions. Mafias have always acted the same throughout history.

[jonathancool220]

It will not be destroyed because the Bank has a clear objective in the real world, which is to stabilize the value of money in the people living in the country and it would be great to continue to exist.
Crypotcurrency has only been around for a dozen years and has become a valuable and excellent asset with such a sharp increase and what has stabilized it is a stable coin that was born from the Conventional Bank.

[Senin]

Do you think traditional banks will be completely wiped out in the crypto era?

The cryptocurrencies future holds a certain measure of success and that will sure give big impact to the traditional banks globally. But I believe that such impact in the future is like a coin holding two sides. Which means it could weaker the other side of traditional banks while it could be the lucky charm on the other side by pushing them into grand innovations.

Banks, of course, will not disappear anywhere and they are not afraid of the development of cryptocurrency. The banking system has nothing to fear, as it is part of the government setting that helps government institutions manage the economy. Therefore, states will strictly protect their banking system from any threats to its existence, including from the side of cryptocurrency. Now states are looking closely at cryptocurrency and will allow its circulation as much as it will not interfere with the state and its banking system.

[pacar_tiri]

Traditional banks will not disappear but will be the best partners for cryptocurrency.
The simple answer is that all cryptocurrencies when withdrawn will switch to traditional banks and this will really make for a better future.
Cryptocurrencies will continue to be alongside traditional banks to continue working together.

I hope it will happen and will not be problem, if traditional bank will be partner crypto currency.
Because We all see many governments didn't accept crypto currency and several countries blocked bitcoin.
But I think It's just matter of time.
I believe all countries will accept bitcoin and other crypto currency at the coming future. I believe it.
No one cannot the future technology. That's all

[leodiaz]

I think that even though crypto is growing rapidly nowadays it will not be able to eliminate the traditional banks. we know that not everyone can accept or use crypto and maybe it will make it difficult for them because they are used to traditional banks. all have their respective roles and it is difficult to eliminate one of them