Future of Banks?

[AlexanderM]

What do you think the future of banks and the those employed by banks will be? Currently, banks trade, loan, and save your money when you give it to them and pay you a small percentage of interest. They’ll most likely pay you 1 percent, and they’ll loan it out for 10 percent. That’s the business of banks make money.

Fiat Money has changed over centuries, from trading physical items, to gold, and now to Paper or Polymer notes that only hold value because we believe they do.

In the next century, possible sooner or rather later, banks will be very little. We’ve already seen a large shift of banking move online, and there will probably be main stream banks but they’ll deal with Crypto and you could potentially bank Crypto by scanning a QR code at the register from your wallet on your phone from a different provider.

That’s what I think would happen. What about you?

 

[glitch]

Banks don't like crypto and is it any wonder why?

Banks control so much in people's lives, they don't even realize it. Assuming crypto can remain untouched by banks and government systems, I think it will allow for a more fair and free market for people as individuals and take away power from large corporations.

 

[Smiles20]

We are gradually seeing people shifting gradually from the use of traditional banks too much more decentralized ecosystem. I do not think banks are going to be completely replaced but then their number are going to reduce drastically in the future.

 

[Lens]

The future of banks is still very bright because all we do revolve around the bank as an investor. If you are crypto trader, you will need the bank to fund your wallet etc. The banks Will remain very relevant in the future.

 

[Sincerem]

I think the more traditional ways of performing several transactions involving money are long going into extinction wit the advent of Crypto currency and other online or digital currencies .

 

[zelalem]

People are gradually moving from traditional banking use to a more decentralized ecosystem. I don't think banks will be completely replaced, but in the future it will drop significantly.

 

[Ononivami]

The Interest that been charged by the banks is on the increase coupled with the incessant complain with the banks services. People are beginning to see the use of the decentralised system and it may likely affect the future of the banks.

 

[Setho]

The future of banks is still very bright because all we do revolve around the bank as an investor. If you are crypto trader, you will need the bank to fund your wallet etc. The banks Will remain very relevant in the future.

I believe that cryptocurrency is going to form a very good parts of the financial system in the future but it is not in any way going to replace banks completely just because of how important banks are.

 

[Lens]

I believe that cryptocurrency is going to form a very good parts of the financial system in the future but it is not in any way going to replace banks completely just because of how important banks are.

The cryptocurrency is already part of the financial system. The cryptocurrency is already use as a payment gateway. Most if the sites uses the cryptocurrency as a form of payment .

 

[Bookwormlux]

Even though technology has made some of us to continuously use virtual currencies , the fact still remains that banks will continue to exist and have more value for people that like going for their offline services.

 

[Monster Masterpiece]

The high fee of setting up technology of crypto because it needs a great investment let most of the banks avoids such investment just because it is something not profitable and may people untrust the technology.

 

[GoldenLady]

Despite attention in the financial industry moving to cryptocurrency, banks would still remain relevant. Some transactions need the transparency that only banks can provide, and people still trust in it's stability more than that of cryptocurrency.

 

[Sotherefore]

Cryptocurrency and banks has both advantage and disadvantage. Banks has advantage over cryptocurrency in the sense that your money will always be in its place but the volatile nature of cryptocurrency make it almost impossible to have exact amount of money you invested .

 

[Monster Masterpiece]

It could be cooperation between cryptocurrency and banks in the near future we didn't know if banks think that by crypto they will bring more investors than before everything is possible.

 

[Lens]

Even though technology has made some of us to continuously use virtual currencies , the fact still remains that banks will continue to exist and have more value for people that like going for their offline services.

You have actually hit the nail on the head! because the banks will remain beneficial to our financial system no matter what. don't forget that the cryptocurrency depend solely on the bank because you cannot fund your cryptocurrency wallet without using your bank account.

 

[Bookwormlux]

You have actually hit the nail on the head! because the banks will remain beneficial to our financial system no matter what. don't forget that the cryptocurrency depend solely on the bank because you cannot fund your cryptocurrency wallet without using your bank account.

That is just the obvious fact. I do not think that cryptocurrencies would ever be in existence without the support of banks. This is why we shouldn't completely disregard the banking system.

 

[James]

Bank is totally different kind of place compare to crypto and I believe it will stay for long time and it needs man power to maintain their work as people will still use banks over crypto thanks to security of money.

 

[Robust]

Banks are always the best and you could easily get your services rendered without fear of losing your money. So they would continue serving their purposes for life without any issues.

 

[Josh9493]

The future of banks is growing rapidly into technology every single day through phone, computers etc at the future the bank will be on your door step.

 

[Sincerem]

I believe too that in the future banks may not really be valued as it is being valued today, a lot of people will move into the advanced system of transaction like you explain. I also believe that there will be some sort of digital wallet that connects your identity and you can use it to send and receive money anytime.