Just as the digital era, the photographic industry witnessed the bankruptcy of Kodak, the rise of online music, the disc has also been quickly eliminated, after the advent of bitcoin, the financial industry may also need to carry out major rectification. Will the bank disappear?
Comparison of kodak with banks is not fair. Kodak did not change itself with the change of time so it failed because with the use of digital cameras the camera films were of no use and kodak was just producing and was just dependent on the old technology. Kodak did not adopt latest technology that is why it failed.
When we talk about bank ; banks are already diverting their activities towards digitalisation of their transactions. They are motivating their customers to use more and more digital transactions.
Major part of their transactions has been diverted towards digital banking. Even we are hearing news about creation of crypto currency by the banks.
So banks will never fail;
But I fear speculators and big whales may force bitcoin to die because of their greed to snatch money from the true small investors.