Traditional banks in the crypto economy of future

[Alcor]

Traditional banks cannot die due to the emergence of cryptocurrencies, because they are under the reliable protection of states. And I don’t see any danger for them from the cryptocurrency side. Banks play a very important role in ensuring the functioning economy of every state. Cryptocurrency cannot perform all the functions that banks perform. Banks will certainly adopt from the cryptocurrency and its blockchain technology the most useful for them. However, their nature will not change. CBDC is a prime example of this. The banking system improves its non-cash payments, but the essence remains the same.

[Jaephoenix]

Unfortunately, Diem nor Libra did not see the light of the day. But I think Mark Zuckerberg has made the mainstream world and media sit up and notice crypto. And I feel Meta as a whole is another avenue Zuckerberg is trying to get into crypto

[Speaker]

So far, Zuckerberg is in the role of catching up and has not provided a single unique product capable of setting a new trend.

[Dora Walletinvestor]

Traditional banks cannot die due to the emergence of cryptocurrencies, because they are under the reliable protection of states. And I don’t see any danger for them from the cryptocurrency side. Banks play a very important role in ensuring the functioning economy of every state. Cryptocurrency cannot perform all the functions that banks perform. Banks will certainly adopt from the cryptocurrency and its blockchain technology the most useful for them. However, their nature will not change. CBDC is a prime example of this. The banking system improves its non-cash payments, but the essence remains the same.

I agree with most of the things in your comment. However, I think CBDC's do inherently change the nature of cryptocurrencies. Sure, the underlying technology is the same, but the fact that they are controlled by banks takes away from their decentralised nature and the fact that cryptos are supposed to be "controlled" by its overall users.

[Alcor]

Traditional banks cannot die due to the emergence of cryptocurrencies, because they are under the reliable protection of states. And I don’t see any danger for them from the cryptocurrency side. Banks play a very important role in ensuring the functioning economy of every state. Cryptocurrency cannot perform all the functions that banks perform. Banks will certainly adopt from the cryptocurrency and its blockchain technology the most useful for them. However, their nature will not change. CBDC is a prime example of this. The banking system improves its non-cash payments, but the essence remains the same.

I agree with most of the things in your comment. However, I think CBDC's do inherently change the nature of cryptocurrencies. Sure, the underlying technology is the same, but the fact that they are controlled by banks takes away from their decentralised nature and the fact that cryptos are supposed to be "controlled" by its overall users.

CBDCs will have little to no impact on cryptocurrencies. The digitized currencies of states are more efficient non-cash currencies of these states and have little in common with cryptocurrencies. The Chinese Digitized Yuan does not even use blockchain technology. In fact, it has nothing to do with cryptocurrency. But we see little so far the work of CBDCs in various states. In this regard, everything is still ahead.

[Senin]

The traditional banking system is already dying.  Cryptocurrencies are a logical evolutionary development of the old banking system.  Why would banks be needed if a cryptocurrency appeared that allows, without intermediaries, without a third party, on the basis of mathematical algorithms, to transfer values ​​to each other.

The traditional banking system will certainly not die. On the contrary, it will take blockchain technology from cryptocurrency and will develop further. But the principles of centralization will remain unchanged. Banks are practically part of the state system of power, because finance is inseparable from power. They will exist as long as states exist.

[Arkann]

investing in bitcoin or large altcoins such as BNB or ETH is the best choice for a newbie investor because this investment has low risk, and if you want even lower risk you can choose to invest long term.

[Speaker]

The main thing is not to trade with shoulders, because the market shows negative dynamics today-everyone was dropped off, even those who took with a minimum leverage of x2.

[Fenix]

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 ...

In order for traditional banks to disappear and a single currency to appear, it is necessary that all states disappear and people on Earth be controlled from a single center. This is unlikely to be possible in the foreseeable future. As long as banks are protected by states, they have nothing to fear. Moreover, the cryptocurrency does not directly threaten banks. Banks and cryptocurrencies will exist in parallel to each other and it is better for cryptocurrencies not to conflict with banks and states.