The answers are yes, yes and yes.
It would be worth to replace banks in financial transactions of any type due to their costs. In a decentralised network there would be no central entity charging fees for that. The cost of a decentralised computation is negligible if compared to the costs imposed by financial institutions (even for trivial bank transfers, not to mention more complex financial tools). In addition, the decentralised nature of the Ethereum platform as of many other decentralised architectures is scalable. The core computing system of a single small bank will never scale to millions. That’s why it is a single small bank.

Written by

Managing Director @ amethix.com Chief Software Engineer & Host @datascienceathome.com

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store