Is cryptocurrency a threat to the financial sector?

[ammarkhkkh 753]

In my opinion, cryptocurrencies will not cause any threat to the financial sector, but rather that the financial sector will tend to deal in cryptocurrencies, as they are now the most secure and their value is rising, so I think that they will cause prosperity in the financial sector.

[piuri01 446]

Cryptocurrencies are not a threat, on the contrary this type of finance, they help the financial sector and will continue to help it in the future, because they are safe and reliable, also with these currencies you can do all kinds of business.

[Moudr 513]

In the beginning, banks are afraid of any new dealings system, but with the passage of time this will become a reality, and it will become apparent to these banks how easy it is to deal in cryptocurrencies. An example of this is the International Company, Visa, which has started dealing with Bitcoin for customers

[Ysha5 763]

There are some countries that are concerned about the issue of cryptocurrencies and Bitcoin due to the large gains and profits they provide, and this threatens the value of the currencies of these countries.

[Maria karam 667]

I do not think that it will help them, so many banks are moving away from supporting dealing in cryptocurrencies because they are decentralized and they cannot put control over them or impose taxes on trading them, but it is possible that this situation will change in the future.

[Jikansamu 1125]

I think you're right, the block chain is of no threat but several uses and importance to the banking sector, the block chain can be of great positive impact to banks if at all they'll try to accept and embrace it

[Nikolaychudotvorets 16]

I think its becoming more a financial sector, that people develops by just making it more popular and more companies make crypto available to pay with.

[Zein21 839]

Your point of view is correct, and the viewpoint of banks is also correct, but your point of view is talking about the current time, while banks are talking about the future, and I hope this will happen.

[Farry 826]

The block chain technology as we how its decentralized and immutable to cancel out transactions. One thing as i see that one thing which might hinder the banks to do so, if a customers makes a mistake when trying to transact a bank account, amount to another person but but makes an error on the address, then It might get sent wrongly. So block chain will have some goods and random downs on banks

[hatambaba 1064]

I think that cryptocurrency is not a measure of risk for the financial sector of the government and central banks. If we work in this forum then we can get a good profit. It is the best to improve our knowledge and experiences.

 

[Alix188 585]

I do not think that central banks will adopt Defi because when using a decentralized financing system, we will never need banks, and through the blockchain we can send money and conduct transactions without the need for a central body that documents these transactions, so banks try to always fight cryptocurrencies.

[hghadeer611 689]

In my opinion, since cryptocurrencies depend on the cancellation of the third party, it eliminates the presence of banks in conducting transactions, and this is the reason why banks are afraid of them, so how will banks accept this type of currency that they cannot control.

[Saberali 530]

Of course not!  Cryptocurrency is a very important thing for the financial sector, if you work in cryptocurrency for the financial sector you can earn good money, and it may be good for you, but it will never worry.

[Francy Mory 543]

On 2/8/2020 at 7:01 AM, Sapdrx said:

I think it's not a threat if the financial sector take the opportunity and embrace the blockchain technology behind crypto. If they don't they should be afraid.

Recently many investors consider Bitcoin and cryptoassets as a hedge against inflation risks and a store of value. The potential of blockchain and crypto assets is enormous and would help the economic reactivation, so it can be attractive to the financial sector.

[Saleena micky 685]

No most likely, cryptocurrency is not a measure of risk for the financial sector of the government. Bitcoin's share is very small compared to the financial sector.

[Michailma 637]

Crypto is only threat for financial sector due to privacy. Because there are many miss uses of currencies with privacy. If its privacy would be erased then crypto is good option for financial sector. And its advanced feature would solve many problems which could not be solved with traditional system.

[Sena1234 972]

No, most likely, cryptocurrency is not a measure of risk for the financial sector of the government. Bitcoin's share is very small compared to the financial sector...

[Jessica7 1132]

We cannot say that it is a threat in the full sense of the word, because there are also good sides to cryptocurrencies, so if banks use cryptocurrencies, work will become faster and easier.

[Lahin1 33]

In fact, I can't say directly that there is a threat and the reason is that cryptocurrency also has many good aspects, so I think that if banks use cryptocurrency, the work will be faster and easier. And you can trust cryptocurrency completely.

[lubinshah 562]

Yes, cryptocurrencies pose some risk and competition for banks because they take from them a lot of currencies and customers because Crypto offers many good features that banks do not offer

[Xantosis 426]

I will loudly say "No" to that which says cryptocurrency is a threat, tonmany people especially the poor cryptocurrency is a very important thing for the financial sector, if you work in cryptocurrency for the financial sector you can earn good money and it may be good for you since you will sustain yourself and your family.

[Alish198562 436]

Of course, banks are in conflict with cryptocurrencies because they attract people to invest their money in cryptocurrencies instead of banks. Also, banks cannot deal with cryptocurrencies because they are decentralized and are not subject to a government agency. If your money is stolen, you will not know who is the perpetrator.

[AMAN KHAN 579]

I don't think like that. Because financial sector is a complete different thing and bitcoin is not even related to them. Correction bitcoin is related but on a very small scale. It's share is very very small. So it won't affect much. 

[april1221 303]

On 2/8/2020 at 5:25 PM, Maximumheight said:

There have been news of banks not being comfortable with the use of cryptocurrency. In my country some banks are not accepting Bitcoin transaction. Some banks are taking it as a threat to their business. Many are of the opinion that it will take business away from them. Some say Defi( decentralized finance) will mean they no longer have control over customers funds.

 

But my own point of view is that cryptocurrency will aid banking transaction. The banking and financial sector should see blockchain as an innovation that will help the monetary system rather than see it as a threat. They should embrace decentralized finance.

 

What is your own Table on this?

In my opinion, cryptocurrency could be a threat to the financial sector because cryptocurrency transactions continue to increase and no one can supervise these transactions yet. Therefore, there are still many countries that cannot accept cryptocurrency because these countries can make special rules about cryptocurrency so that the government does not get input or taxes from cryptocurrency. This of course creates a threat to a country's finances if left for too long without any applicable regulations in that country.

[علي سليمان 1071]

In my personal opinion, digital currencies reduce the pressure and demand for fiat currencies. By making it possible to purchase many materials via digital currencies. Therefore, the existence of digital currencies is positive and not negative as some think.