Is cryptocurrency a threat to the financial sector?

[hadi6t6 6]

Many have expressed their views on this, but I think this is very risky, because cryptocurrency is not a fixed currency, except that it is a volatile currency, which is threatening financially and financially. Added.

[Whited35 15285]

It is not a threat for the financial sector rather it can help the financial sector. It helps financial institutions by making their complex tasks so easier. If crypto currency is adopted worldwide it surely help financial sectors and all the classical payment system will be replaced. 

[Mercello Blyat 21]

Bank of America, JPMorgan Call Cryptocurrencies a Threat. In its annual 10-K filing with the Securities and Exchange Commission (SEC), released Feb. 22, Bank of America Corp. (BAC) listed cryptocurrencies among the risk factors that could impact the bank's competitiveness and reduce its revenues and profits.

[Gudameku 26]

i dont think its threat for me its an opportunity that will help different sector to run they are activities very smooth as compare to paper money it lack some features which hinder the financial sector especially when it come to fast track sending and receiving money

[Rickso 768]

On 2/8/2020 at 11:25 AM, Maximumheight said:

In my country some banks are not accepting Bitcoin transaction. Some banks are taking it as a threat to their business.

dude, of course the banks are not accepting bitcoin. bitcoin has born to be against them and to help people to have a financial freedom and to be their own bank... to help people to be autonomous.

so yes cryptos are a real threat for them and they are scared

Edited March 2, 2020 by Rickso
i forgot to write a sentence

[Abiaan 1209]

yes its surely the great risk for the bank to do business with the cryptocurrency , banks always tries their best not to get on loss and always avoids the risk

[Hanan951 841]

Banks in generql cqn not do a thing without government rules because it is in their land so i can not be sure if they want to accept or juat cant do that.

[malik6314193 5449]

On 2/8/2020 at 3:25 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?

may be it's treat for them that's why many countries are not accepting  crypto currencies. Vut in my opinion in near future all the countries will adopt  it. 

[Lover840 0]

Hello my dear friend. I believe that many people have already given different thousands of opinion about the crypto currency. Some take it as a threat some take it as development basis. 

[moiz p 5]

On 2/8/2020 at 4:04 PM, Elizabeth Musa said:

I dont think crypto i a threat to financial institution. Many financial institution are only being selfish. They want their beneficiary to stay in poverty. But crypto is breaking that yoke.

I dont think crypto I a risk to money related establishment Many monetary foundation are just being narrow minded They need their recipient to remain in destitution But crypto is breaking that burden

[moiz p 5]

1 hour ago, Ujjal Marella said:

yes its a biggest threat to finnancial sector thats why i think most of the country are'mt friendly with crypto because of that.

Indeed its a greatest risk to finnancial division that is the reason I think most about the nation are mt inviting with crypto therefore

[Franco77 10]

Crypto is created with simple Bitcoin rules and there is no neutrality in their movements and uses .The basic purpose is specific and clear. That crypto was created in the hope that it would replace the old and exclusive paid payment system.

[Lubruselu 2803]

That's not possible for the cryptocurrencies to be threatened to the financial sectors, and this is because the financial sectors they have power of big support from the government and banks also

[mohmustmmau 4]

Yes it may be true for banks because it's more volatile to invest your money in crypto than other currencies so they don't want to let that happen you know.

[andrehol 16294]

Banks have long and successfully used Ripple cryptocurrency. There are no banks affected by its use. This is the best proof of cryptocurrency security for banks. It's just that most bankers do not want to share profits with cryptocurrency developers.

[moiz p 5]

21 hours ago, PavMine said:

Banks are afraid of crypto because it means they will not be able to charge as high as they would like to.

If they embrace it, their profit will go down.

 

Bank fear crypto in light of the fact that it implies they wont
have the option to charge as high as they might want to 
In the event that they grasp it their benefit will go down

[Santo123 4]

I have been working in few year in many site but i lost my money in few site now i found a very trusted site crypto currency site now i earned a batter payment in this site

[Valentine.H 41]

Well People cease to trust decentralized structures that have access to both personal data and money that are capable of doing manipulations. Bitcoin and crypto is a solution that eliminates the need for third parties that's why banks are afraid to become unnecessary..

[Naga 1250]

we all know that many financial experts out there have been bashing bitcoin and crypto in general and they try to discredit  it in the eyes of the public because crypt is the biggest threat to them,.

[iloveyobit 6599]

Yes, cryptocurrency is indeed a threat to the financial system in the world. If people move to crypto, this means less dealing in real currencies, which means the collapse of other economies.

[Maroua 1159]

This is something that will definitely happen, because the banks depend entirely on the currency, and the entry of cash into the bank. If the crypto world becomes the intended real-world currency, the banks will be threatened with complete closure, and there will be just electronic banks, and this of course is one of the reasons why banks fight the cryptocurrency.

This is something that will definitely happen, because the banks depend entirely on the currency, and the entry of cash into the bank. If the crypto world becomes the intended real-world currency, the banks will be threatened with complete closure, and there will be just electronic banks, and this of course is one of the reasons why banks fight the cryptocurrency.

[Virgil dijk 1431]

For me I don't think Cryptocurrencies is a threat to the financial sector but I think it could aid the banking system in making money transaction very fast so I think banks and government should embrace cryptocurrencies Because it will aid banking system and also helps the government financially.

[BitcryptoHan 2557]

It is not a threat. For example, that was what the bank of India was arguing. That it is a threat. But was later revealed that cryptocurrencies are not threat. Which is the truth. 

[Michael0606 861]

Perhaps in the future it will be a threat, at this time not since the extra-financial sector of Cryptocurrencies go hand in hand with currencies so you know the price of each cryptocurrency, so I do not think it is a threat if not a partner goes from the  hand although the market is totally different.

[Babubu609 0]

On 2/8/2020 at 1:34 PM, gambut_24 said:

I am of the opinion that the crypto currency is not a threat to the financial sector, the crypto currency is a technology that can reduce or even erase the functions of banks, that is why they feel threatened.

I don't think crypto currency will take time to take advantage or replace the banks