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Blockchains will change the way stock exchanges work, loans are bundled, and insurances contracted. They will eliminate bank accounts and practically all services offered by banks. Almost every financial institution will go bankrupt or be forced to change fundamentally, once the advantages of a safe ledger technology without transaction fees are widely understood and implemented. After all, the financial system is built on taking a small cut of your money for the privilege of facilitating a transaction. Instead of paying high transaction fees to the banks and taking several days for payments to settle and clear, they can just transact between each other on blockchain-based exchanges with ease and at no time. Bankers will become mere advisers, not gatekeepers of money. 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Future Uses of Blockchain has come to the forefront of many discussions because of its role in distributing cryptocurrencies like bitcoin. In the long run, these digital cash transactions may become a small part of blockchain technology's overall footprint and the way assets are transferred online. The possibilities for blockchain implementation seem endless, as its underlying technology can be leveraged in many fields to perform these important tasks and more: Execute contracts. Buy and sell intellectual property. Distribute medical information. Ensure that voting in elections is incorruptible. Private blockchains allow companies to revolutionize internal processes. Public, open-source variations change the way people handle business in their daily lives. World society has just begun to scratch the surface of blockchain applications. New uses for blockchain are discovered regularly. The idea that somehow bitcoin can be banned by governments is the final stage of grief, right before acceptance. The consequence of the statement is an admission that bitcoin 'works.' In fact, it posits that bitcoin works so well that it will threaten the incumbent government-run monopolies on money in which case governments will regulate it out of existence to eliminate the threat. Think about the claim that governments will ban bitcoin as conditional logic. Is bitcoin functional as money? If not, governments have nothing to ban. If yes, then governments will attempt to ban bitcoin. So the anchor point for this line of criticism assumes that bitcoin is functional as money. 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