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/biz/ - Business & Finance

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3790151 No.3790151 [Reply] [Original]

Do you think banks will transition from cash to crypto currency in the future?

>> No.3790158

>>3790151
and what will banks do with crypto currency?

>> No.3790164

>>3790158
lend you some bitcoins so that you can buy your new car.

>> No.3790170

>>3790151
Yes. Corporate blockchain will more or less alleviate fraud issues because everything is traced and logged. It’s perfect for our 1984 style world.

>> No.3790182

>>3790164
ayyylamao

>> No.3790194

>>3790151
Banks want faster processing times and all the other good shit of blockchain but what they DON'T want is a currency that has too much accountability and a limit.

Any bank used crypto will have an unlimited amount that they can manufacture when they want and it won't be transparent and viewable by anyone outside of that specific bank bubble.

>> No.3790197

Whaaaaat baaaaanks lol

>> No.3790212

>>3790151
banks love to create money out of thin air. you can't do that with crypto. so they might make their own shit coin, but no they won't be "transitioning" into crypto.

>> No.3790266

>>3790151
Not exactly. Banks will adopt the blockchain technology for security, privacy, and to increase speed of transaction however it won't be any known crypto. It will be a government sanctioned crypto that will crash ~80 years after its introduction because banks will decide to make more out of thin air, kind of like government cryptocoin securities.

>> No.3790331

>>3790151
Exchangers will be banks

>> No.3790334

We kinda already have crypto banks in the form of coinbase and other big exchanges.

>> No.3790355
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3790355

>>3790331
>>3790334

>> No.3790359

crypto is not for the purpose of replacing fiat.

i'm not spreading FUD, this is literally what Vitalik has said in a Q&A.

https://www.youtube.com/watch?v=TSo6gixDKeU

>> No.3790400

We're already moving towards having a cashless society..India springs to mind first, but there are other countries that are looking to do the transition rather sooner than later.

>> No.3790529

>>3790400
true. i think we are going to see a big change in how banks operate very soon.

>> No.3791399

>>3790164
That will not work since there is only a finite amount of BTC. They can not just print more like now. What a fucking scam

>> No.3791669

They kind of already have. I think wells Fargo's sure pay is a black chain tech

>> No.3792367

>>3790400
>India
>Cashless
That's pretty elitist anon. What they lack in cash they make up for in spirit and street defecation.