The idea that banks will disappear with blockchain technology is a
major topic of debate, but the current trend in 2026 shows a transformation rather than a total extinction.
Here is the current state of the situation:
1. Disintermediation through DeFi
Decentralized finance (DeFi) now allows for loans, borrowing, and asset exchanges without going through a traditional bank. Smart contracts replace the banker to verify collateral and
execute transactions.
2. The emergence of CBDCs
To avoid losing control, most central banks have launched their own Central Bank Digital Currencies (CBDCs). For example, the work on the digital Euro aims to combine blockchain technology with the security and regulation of a state institution.
3. Banks as "guardians" of assets
Rather than disappearing, traditional banks are evolving into custodial roles.
Many users do not wish to manage their own keys
private (risk of permanent loss of funds). Institutions
therefore offer highly secure digital asset custody services
4. The limits of pure blockchain
The banking system retains advantages that blockchain still struggles to fully automate:
Dispute management: The reversibility of transactions in case of error or fraud.
Human advice: For complex financial arrangements or personalized mortgage loans.
Compliance (KYC/AML): Banks serve as a filter against money laundering, a strict regulatory requirement in 2026.
In summary:
Blockchain technology forces banks to eliminate their
high fees and slow transfer times (like the SWIFT system). The
banks that do not adapt risk disappearing, but those that
integrate blockchain become more
efficient hybrid platforms.
And @CZ talked about this at DEVOS and what do you think about the future of banks
here is part of the interview of @CZ at Devos regarding this topic