Will Blockchain technology eventually replace banks?

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Don't know, but blockchain makes auditors obsolete. There goes our Channel 1s

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No. Because blockchain requires an understanding of math to comprehend, and stupid people are scared of complicated things that they don't understand.

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everything is transcribed in the blockchain. Especially if banks start exploring ethereum smart contract use cases- an auditor will never have to do anything again. All transaction history and financial statements will be documented and easily retrievable.

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It won't replace banks, but it will replace a lot of labor with capital

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Right but what an auditor does is analyze the history. Someone would still have to do that, and someone would still have to audit the block chain is functioning properly. The way the audit functions would change but audits will never go away

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An interesting quote I heard once was "blockchain is overhyped in the short term but underhyped in the long term"

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If Eventually = 20 years 😜

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Let me go check my crystal ball

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Blockchain is already being explored by banks for major operationalize cases. I'm in this space.

operational*

K1 how does it make auditors obsolete

If used appropriately !

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