Are cryptocurrencies prepared to replace the traditional banking industry?

[trauchot]

Banks will not disappear anywhere in the near future for sure, because only a small part of the entire population uses cryptocurrency, and the rest do not even know what cryptocurrency is and do not want to know, but if full adaptation of cryptocurrencies around the world begins, then in the future everything will change and then there will be a huge competition of cryptocurrencies and banks.

[tervel]

Still, traditional banks are becoming very much aware that they’re ceding some ground to the new wave of cryptocurrencies. At the same time, digital currencies have downsides like a perceived volatility and some uncertainty.

[wanggober]

Cryptocurrency will not replace traditional banks. They have their own paths. Traditional banks will always be used even if they do not implement cryptocurrency. Maybe many out there who do not agree if the bank applies a blockchain system.

[tonymillions84]

it is believed that if the crypto is properly accepted, it may devalued banks and financial institute. i don;t think that we will remove fiat and other means of exchange payment services. i don't think crypto can serve that purpose because there are individual that has no access to internet and computer system

[Master107]

Banks will make a way.
They are not just born to diminish.  Along time ago since 2000 B.C banking system started even until now 2020 A.D. The adoption of banks system to fresh trends in financial matters aren't late. Actually, they are the number one in terms of popularity to influence people to embrace whatever they advertise.
People look the bank as their bases in terms of Trust, confidence, and trends to adopt.

[Fenix]

Banks will make a way.
They are not just born to diminish.  Along time ago since 2000 B.C banking system started even until now 2020 A.D. The adoption of banks system to fresh trends in financial matters aren't late. Actually, they are the number one in terms of popularity to influence people to embrace whatever they advertise.
People look the bank as their bases in terms of Trust, confidence, and trends to adopt.

This is only the time of four thousand years, which we can track the work of banks with documents. Therefore, no cryptocurrency in this regard will change anything. Banks will switch to using blockchain technology and this will only strengthen them. In addition, cryptocurrency, neither technically nor organizationally, can replace the banking system. Banks perform much more specific functions than cryptocurrency.

[Senin]

I don’t know why anyone decided that cryptocurrency can replace the existing banking system. Banks are protected by the state and are actually part of the state system. Cryptocurrency cannot replace banks, but even if it could, then the states did not allow this.

[Alcor]

Banks and cryptocurrency are completely different things, cryptocurrency is simply not able to replace them. Cryptocurrency is money, and banks are institutions with many different functions, including money management.
Therefore, cryptocurrency, even theoretically, can not replace banks.

[Altcoin1998$]

Obviously impossible because bitcoin still not a global currency, when bitcoin will be global acceptance currency, then it would replace the banking systems with digital marketing and binary coded marketing. Cental banking system is backed by governments but bitcoin is not acceptable to governments some countries.

[sturec22]

I do not think so. I think we still need time to replace the traditional banking industry. Even though the economic model we have for the last 50 years is about to collapse, it is not that easy to adapt a new system in a day. Right now we are like in the middle 1990s where there are computers and internet but people are not really aware of the situation and the technology is not ready enough.

[Prime]

I don't think that crypto is created to replace banks. If there are some banks feeling intimidated because of the existence of crypto, it doesn't mean the bad effect of crypto. The popularity of traditional banks is getting down even if there is no crypto. I am sure people aware of this fact.

[Master107]

Banks will make a way.
They are not just born to diminish.  Along time ago since 2000 B.C banking system started even until now 2020 A.D. The adoption of banks system to fresh trends in financial matters aren't late. Actually, they are the number one in terms of popularity to influence people to embrace whatever they advertise.
People look the bank as their bases in terms of Trust, confidence, and trends to adopt.

This is only the time of four thousand years, which we can track the work of banks with documents. Therefore, no cryptocurrency in this regard will change anything. Banks will switch to using blockchain technology and this will only strengthen them. In addition, cryptocurrency, neither technically nor organizationally, can replace the banking system. Banks perform much more specific functions than cryptocurrency.

The foundation of banking system is quiet strong and couldn't be easily disregarded and come up to new approach. Cryptocurrency will lessen the hard works, more works,  time consuming, and slow service of banks. Yap, traditional approach can apply to cryptocurrency bank system approach.

Embracing new trends is for good measurement to what to be gain at the present and the future.

[vaysar]

Only 1% of cryptocurrencies existing today solve real problems. To make sure of this, just carefully look at the top 100 cryptocurrencies with the largest capitalization. After a thorough analysis, it becomes clear that 99% of all cryptocurrencies will depreciate in the future.

[freakslot11]

There is definitely a high probability that cryptocurrency could replace the banking system, but not so simple. At this stage, this is of course impossible, cryptocurrency is still very weak compared to centralization, and very influential people are behind the traditional system, it is not beneficial for them in the first place.

[Altcoin1998$]

Yes brother it have very possibility to replace traditional banking systems by online digital cryptocurrency systems but not now. In the defininate future online cryptocurrency will be very popular and maximum usable currency among the people of worldwide. Then people have lost their confidence over banking system.