Is cryptocurrency a threat to the financial sector?

[CryptoDemon 370]

On 2/8/2020 at 6:25 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?

I thing crypto currency is not a threat but a helpful thing that might be able to make the financial sector improve. I hope that crypto currency and financial sector help each other.

[Izeal 4404]

I don't think this cryptocurrency will be financial threat but it will always respect the financial sector. You can say that it is the modern version of financial. It's just the other option as a payment why it would be financial threat. But the numbers of people using cryptocurrency will be more in coming years because people are learning about the cryptocurrencies.

[Sugibengi 390]

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?

Of course other financial parties will feel threatened by the existence of cryptocurrency, indeed little by little cryptocurrency has made investors who originally invested in stocks now switch to cryptocurrency, if this continues it will certainly be a threat to other financial sectors. I think this is a solution that can be controlled by the investors themselves, not the banks. Like it or not, cryptocurrency has become a very profitable business today.

[Doitagain 6]

Cryptotalk is actually helping us by financial. If someone work on this plartform then they will get profif from it.so everyone should work in here to earn more money

[Digital 387]

Banks and other financial sectors see crypto currency as a threat to the banking system because they see more people are getting awareness about crypto currency and people are participating in it ,perhaps in the future crypto currency will dominate the world they see it as the future currency that is why they want to stop people from using it.

[hasan007 206]

My opinion is totally your opposite, the crypto is not harmful for the financial sector. Crypto is a revolutionary idea which is belongs to crypto. But one negative observation about crypto is not centralize, that's why its difficult to track the transaction. 

[bogdanoff 3173]

I like to think that the cryptocurrencies are not a threat but a help to financial stability because it is the cental banks and the mistakes they make that create problems in economies and the governments that push the central banks to print more than they are supposed to. I agree with the approach that crypto will help economies and may run together with the fiat currency system or even become more used from it.

[Gluttony 1775]

Yes because this is the number one enemy of the cryptocurrency I believe. If the cryptocurrency become more relevant than the currency that we have in the real world, the financial sector would absolutely be the first one to be hurted about it. Its not the financial sector but also the people who work related to them which lessens the labor that a country has that is boosting their economy. It is actually the reason why there are countries that can't accept the idea of cryptocurrency since the flat world already has one and it could provide labor to people who are in the financial sector while the other one does not.

[Maaz sultan 265]

No everyone need to educate financially and knows that crypto currency is not any kind of threat  more that its financially support all the students and other business man . If you have knowledge of these currency then it is a gold for you .

[simonsilva823 53]

I do not see that cryptocurrencies in the financial sector are a threat, rather it would be good to implement it in the future, in reality the financial sector complies in most cases with a centralized controlled system, instead the cryptocurrency network works with a system decentralized, did not open threat but a financial cryptographic disorder

[Jose Plma 2]

Actually no, but bein helps the financial sector, providing better asset markets and ease of trade and investment between them, enables easy payments and transactions extremely easy and secure, no country should see the crypto currencies as a threat to the financial sector, but should rely on them and implement sufficient security in them.

[Krieg99 26]

On 08.02.2020 at 15:25, 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?

my opinion is that cryptocurrency is not a threat, but a solution to many problems of the global financial system, but unfortunately the situation with cryptocurrency is still in question with governments.

[Yoobitlover 30]

Yes mostly bank get away from the crypto transections.i dont know why they do they have own bank and crypto have own bank i think thats why.goverment says crypto is voiltile for the users so keep away yourself from this.

[ArtoriasTAW 64]

Cryptocurrencies are a different scheme from what is already known in the traditional financial sector and as everything new generates fear and mistrust, there are also others who cannot accept the idea of a de-centralized financial system where they cannot manage all transactions and control over our funds, but I believe that cryptocurrencies are a good alternative for the same reason because they give us freedom from these old schemes where banks and regulators only seek to profit from our own money.

[braccovzla 36]

I do not think it is a threat, rather I think it is a means of escape and stabilizing finances at all levels, the world is making changes by leaps and bounds, due to the economic crises it was necessary to reinvest and cryptocurrencies have helped to do so

[LUISAHG. 49]

I personally do not believe that cryptocurrencies endanger. The financial system is but I think quite the opposite. It comes to improve finances in every way. I believe it...

[Sinan 29]

Crptocurrencyes are solution of financal problems so cryptocurrencyes are generated for support world financal system. It will not threat global finance. Global finance will chance because of bitcoin but it is not threat.

[maho06 154]

It is normal that banks fear the cryptocurrency sector for now, they see things as if they will be taken away, nobody wants to be out of their business, they think that their earnings will decrease, this shows how right they can deal with blockchain technology, can this technology be used to their advantage? provides advantage

[Hfaragon33 29]

Of course not my friends, its an alternative, descentralized an auditable financial sector. so crypto market came to srtay and get stronger every year, so be patience and watch in next months the new bullish trending. 

[Brandonsaw 1973]

If cryptocurrency is the threat to banks since they will lose customers and no longer use their banks because cryptocurrencies will be the future.

[Teminali69 1081]

It is not a threat to financial sector, only a threat to the governments and the banks, in general we can say it is a threat only the old financial system.

[Cryptonix 135]

Companies whose shares are traded on the stock exchange begin to make decisions that aim to show that they benefit from using cryptocurrencies, and the markets, in turn, reward them for this. If this continues, during the collapse of the cryptocurrency market, people who are not directly involved in it will also suffer.

[hassan7951 25]

I do not see crypto currency as a threat to the financial sector but rather as an update of the financial sector system, with crypto currency I think that some problems could be solved, problems such as money laundering  , the embezzlement will no longer exist thanks to the crypto currency, no more control from the top, everyone will be equal, there will be more fraud, it is an update, a change and a revolution for the future.

[Affect579 66]

I think that cryptocurrency is not a threat for them, but they think incorrectly. They just do not understand how this significant new technology works. I believe that cryptocurrency could even help banks. But I think someday we will see a system of banks' interaction with cryptocurrency.

[lantonio 38]

One of the benefits that banks receive is international transactions and seeing how much they make that trasfers through bitcoin theyfeel uncomfortable, it also annoys banks that people save more on bitcoin than on their institutions.