can crypto replace the banks ?

Nowadays we have seen how things are changing very fast around us, especially if we talk about banks. Many banks are merging because many banks do not have that many transactions, so the government is merging many banks to control the situation, in such a situation many people are having to lose their jobs because banks are merging. In such a situation jobs are also decreasing and gradually as the technology grows, this problem is going to increase even more, but I feel that if crypto becomes more popular then it will be beneficial for everyone because if you transact only in crypto then probably you will not even need the banking system.

Think about it, if you are going somewhere locally for shopping and your vendor is ready to lend to you in any cryptocurrency, then you may not even need the banking system. Now you can make payment with any photo currency. Perhaps no one would want to do this permanently, but everyone has their own choice, brother, how they want to transact, so I feel that in the times to come, it may challenge the banking system and it has already started gradually in many places. Many people have also created a community in which we also meet each other. I lend money through Bitcoin and Anya Tripathi and in this way, I am gradually expanding this group and if it becomes larger then perhaps you may prove to be dangerous for the banking system.

But I feel that the government does not want such a thing to happen because if this happens then they will not have control over the people nor will they be able to get information about people's transactions because nowadays there are many exchanges. It is a bit difficult to centralize the cryptocurrency because it is decentralized, and it is not possible, if the government wants, then it can do it and gain control, in the coming time the government may bring some stable crypto on which people can transact. It is possible to happen but in such a case banks can have a lot of problems because there can be a lot of risk for them here, rest see technology will keep growing like this if we can understand things along with it then maybe it will be good for us too.

Source

Translated with Google Translator, thanks

Thanks for your support love and encouragement see you tomorrow till then take care.