Blockchain Companies Will Replace Banks?

Now, the trend is already evident: banks are becoming more ad more vulnerable, while blockchain companies seem to be a good alternative to the old good banking system.

Why so?

Banks are vulnerable: politically, economically, etc. Moreover, they are geographically limited. While blockchain does not have these issues. For example, there are cases when cryptocurrency was used to purchase goods and equipment  to help people suffering from hurricane consequences, while the bank service was not available there.

Though if the blockchain and cryptocurrency are the universal solution to all problems that may exist with the banking system?

Rather not, as cryptocurrency is still in its early development stages. It is available not for everybody and not everywhere, it is accepted not in all places, and it means, that it is still very limited. There are some obstacles on the way to the adoption of cryptocurrency in everyday life of the most people, some of those obstacles are of legislative character.

Though the progress is pushing even the conservative financial system to some changes, according to the environment changes. Hence, blockchain companies in future may become a worth competitors for the standard bank institutions.

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