i think yes...now a days bitcoins are gaining market...there is all chance that it would replace banks in near future!!....hot wallets are gaining now days....so hope for the best
I think it would really take more time, maybe years from now or we might not see it anymore if it happens, banks are everywhere and fiat is in there, and fiat runs the economy, so if it will make banks disappear, where will we put our paper money...so I think it is far from happening at this lifetime.
Like any major corporate institution, I think that the banks have both the ability to see what is coming and to modify themselves to insulate against loss. Of course, major change is at least five years off. At the same time, if the banks were to see an end to FIAT, hopefully they will have adapted in advance and will possibly take up positions that serve the blockchain. Without any research at all right at this moment, I will assume that the majority of the profits that banks generate for themselves does not come from the storage of money. Any deposit account most likely costs the bank money over time or breaks even, based on the interest paid on those accounts. Their profits should come from interest paid on loans, leveraging the funds that are being held within that bank for such loans and other investments. Just those two tasks can easily be altered to blockchain/altcoin dynamics.
Right now, at this moment, the majority of the profits that we make off Bitcoins is generated off loans and the interest taken from those loans.
I see no reason that a little planning ahead on the part of the major banking institutions cannot save them in the event of major change. In fact, if they do no fight it, the change from FIAT to crypto could generate a lot of extra income during the transition as they can assist local businesses, small businesses and even some mid-sized businesses to make the switch at the POS(Point of Sale). Just a few thoughts on a possible future.
People say "bank" as if it's this one item that works alone like hammer, screwdriver, automobile, chainsaw, bank. The finance industry is made up of many diverse components that create a system of individual parts working in unison to create the functionality of what we know as a "bank".
Banks loan money, right? But banks couldn't loan money with the risk assessment system created by the major credit rating organizations like Equifax and Experian. Without these credit trackers banks would make even more bad loans than they already do. The interest rate these lenders use needs to come from somewhere. Banks can't just be allowed to make the rate what ever they want. That would be bad for the economy and hurt the borrower so the government (federal reserve) sets the interest rate. Some people need loans but have hurt their credit so mainstream banks can't lend them money. This dynamic created the subprime market of special banks willing to take a higher risk for an increased interest rate. When borrowers default on their loans and end up in real financial trouble the banks don't lock them up in the bank vault until they pay. Banks aren't set up to be capable of fixing that problem. They sell that bad account at a discount to a collection agency which is a another necessary business in the banking system. If people still can't pay they now need another branch of the government to help them organize their finances and get out of trouble without going to jail (bankruptcy).
Banks also provide safety and insurance for people's money, provide safety deposit boxes for the storage of hard physical goods like gold or paperwork, they act as payment agents between millions of other banks and businesses and provide accounts that pay interest on retirement and other savings.
So, you can see now that a bank is not a hammer or screwdriver with a single small function that can be taken over by Bitcoin. When anyone throws the word "bank" around and claims that Bitcoin can replace them they are just showing how completely clueless they really are.
