Banks are on there knees right now. Most people didn't know what the actual functions of banks was. Now thanks to Blockchain and Crypto there functions has become near obsolete because it can now be done 100x faster and cheaper.
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Until the powers that be show the banks their place, I do not think that soon we will see them kneeling with outstretched hands. Many banks declare themselves bankrupt, and, after some time, reappear. As long as there are grandmothers who put a part of their pension on deposit in a bank, banks will exist.
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Yes, when you've been in the game for awhile, you'll always find a way. However, when you zoom ahead. The grandchildren of those grandmothers might not be using banks to deposit their pensions. Banks wouldn't let go without a big fight but the odds are heavily stacked against them if they continue with the old model. We'll see how it goes in the near to distant future.
You need to understand that most banks are small hucksters that depend on one or several large wallets. Look at Igor Kolomoisky, the founder of the Privat financial group...does this cheerful Jew want to exchange shadow operations for an open blockchain? I doubt it very much, and all Privat banks obey the snap of his fingers.
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Rather most of their costumers. Similarly to a prisoner or a slave. But cryptocurrencies can free/liberate them.
I am not sure it is all out there but moving in that direction. People didnt know newspapers were done until it stopped showing up one day. It took about a decade before the Internet made an impact.
I expect the same with banking. The more time that passes, the more alternate services tied to blockchain will be used.
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