Banks a necessary evil --- That is a very good question Thomas, I'm gonna talk about it from my experience. However, if I'm overlooking something would be great if anyone can add it.

Banks are centralized entities that have guarantees in case you lose your password, card, you don't recognize a transaction, etc. In short, they back up your funds. On the other hand, Blockchain is a decentralized technology that requires lots of energy to complete a transaction (here is where the miners get profits). With decentralized options, you are responsible for your keys, if you lose them, you lose your wallet forever and what is inside.

For some customers, the lack of guarantees would make the decentralized option not feasible. I believe a hybrid scheme is the best option, merging the best of the two worlds. The question would be. How can we do that?

Source author: Alan Kaheri Chavez Castro itsupportirl@sre.gob.mx