Banks will shut down and be replaced by blockchain technology. This story has already led many people to misunderstand.
Actually, blockchain isn’t a “replacement for banks.” Blockchain is a technology for recording and verifying transactions digitally.
Think of it like a “new railway track” in the financial system. It doesn’t mean the old railway tracks have to be thrown away, but there is a new route that can make certain processes faster and more efficient. That’s why blockchain doesn’t have to be the enemy of banks.
Even CZ, the founder of Binance, has said why some people think banks need to be afraid of blockchain. In fact, this technology is open and can be used by anyone—including banks.
And the fact is, several major banks around the world are starting to explore blockchain for payments and cross-border transfers.
Banks still have an important function. If there are transaction problems, customers still have customer service (CS), regulations, and protection mechanisms.
Meanwhile, in crypto transactions using self-custody, if you accidentally send your assets to the wrong address, transactions generally can’t simply be canceled.
So it’s not about blockchain replacing banks. It’s about how quickly banks are willing to adapt. Because the future of finance may not be about who replaces whom, but about how the two can complement each other.
What do you think—are banks in Indonesia ready to adapt to this technology yet?
Actually, blockchain isn’t a “replacement for banks.” Blockchain is a technology for recording and verifying transactions digitally.
Think of it like a “new railway track” in the financial system. It doesn’t mean the old railway tracks have to be thrown away, but there is a new route that can make certain processes faster and more efficient. That’s why blockchain doesn’t have to be the enemy of banks.
Even CZ, the founder of Binance, has said why some people think banks need to be afraid of blockchain. In fact, this technology is open and can be used by anyone—including banks.
And the fact is, several major banks around the world are starting to explore blockchain for payments and cross-border transfers.
Banks still have an important function. If there are transaction problems, customers still have customer service (CS), regulations, and protection mechanisms.
Meanwhile, in crypto transactions using self-custody, if you accidentally send your assets to the wrong address, transactions generally can’t simply be canceled.
So it’s not about blockchain replacing banks. It’s about how quickly banks are willing to adapt. Because the future of finance may not be about who replaces whom, but about how the two can complement each other.
What do you think—are banks in Indonesia ready to adapt to this technology yet?
