Altcoins Talks - Cryptocurrency Forum
Further Discussions => Blockchain Technology => Topic started by: Domithra on March 13, 2018, 07:51:06 PM
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The debate of this issue has been a troubling one even with the experts of cryptocurrencies. What do you think can become of the traditional banking system with the massive turnout of the Blockchain?
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Maybe... Maybe not... Blockchain could help banks facilitate easier and faster transactions. Before now, its very difficult to self money to people in some countries. But now, it is possible through the blockchain technology.
If banks look for a way to integrate blockchain into their operations, it will be good for them. But if they try to destroy the technology, they'll be taken out instead.
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In the short run possibility is too low also banking system is so powerful and they will try to fight. On the other hand blockchain is powerful as well and its potential can change many thing in future.
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I think there'll reach a time where the governments will adopt and implement part of the blockchain technology in the traditional banking system.
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It's possible, but will take too long to happen.
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The battle has already began. Blockchain technology can do massive works than the traditional banking system. Its the main reason why there are a lot of oppositions from all corners of the world to halt bitcoin and other cryptocurrencies.
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Can blockchain be combined with all projects?
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could happen because the security of data offered by blockchain makes its own points for customers.
low cost, fast transactions, and the convenience offered by blockchain are an important consideration.
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Blockchain seems to be changing its way of doing business in many areas, not just in banking, but in agriculture, education and health care. Many banks are sending money abroad just in 10 minutes by using ripple company's infrastructure.
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I sincerely hope that blockchain technology will replace traditional banks. People will rise to a new level of development.
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I dont think blockchain can replace traditional banking. The government and banks are against blockchain and I don't think it can overcome them so soon.
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Yes for me. Banks would use blockchain technology eventually for easier monitoring and for faster transactions. Some industries are already searching for ways to apply blockchain technology to their system because of the advantages it would bring and it will also have lesser cost. Banking industry currently are in research so that they can use blockchain technology to their advantage and then it will be the norm then while the traditional banking system would be obsolete.
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The debate of this issue has been a troubling one even with the experts of cryptocurrencies. What do you think can become of the traditional banking system with the massive turnout of the Blockchain?
This is possible if the banks fiat banking system will shift their business to crypto currencies banking system eliminating the use of fiat currency which will be supersede by crypto currency but this is very impossible to happen for now because it is not that easy to replace the use of fiat in all over the world.