Topic: Banking Then VS Banking Now, Banking On A Crypto Future (Read 148 times)
The current banking system will surely be adopting new technologies when they feel that it is the right time to do it and when innovations can rightly fit into their profitable model. While the blockchain and cryptocurrency can be taking a big chunk of the market from the banking industry maybe in the next 10 years, there is no question in my mind that as the global economy is getting diversified the banking industry will eventually survive as people still need them. The idea that they can be gone as in completely wiped out is just a pipe dream. Yes, there will always be changes and there can be players to be left out but let us not assumed that this industry can be gone soon...it does not work that way.
I think banking will go with crypto in the future. Because the banks also doing everything digitally. The means we need digital currencies to do everything digitally. The next thing is the cryptocurrencies are better than fiat with digital systems.
Sure lately the banks have tried to move out from the traditional banking we use to know to a more high level system where different payment cards have been introduced to accommodate the cashless system. I think the cryptocurrency system will be more tasking for banks because crypto isn't physical in some aspect, it only codified, encrypted etc. Those are the challenges to come for banks.
The old banking system made everyone worried because the admin fees were expensive and we couldn't see how much money someone had from another bank account, in crypto we could see the balance of our crypto coins, public addresses made everyone know how much money they had have, even we can easily see the tx of the shipping that we do on blockchain
In the history banks were honest, they provide real service to their customers. After some time banks became a monopoly on the market and started playing a dirty game. Now, they should be afraid of upcoming alternative system, that can overcame them, it only needs a time.
I think they realize that the era has to change, so they need to improve their system with the newest technology. And related to the cryptocurrency, I think they will launch their own system but not to beat the cryptocurrency but for working together with the cryptocurrency and the blockchain. Maybe they will integrate their system with the blockchain technology to make sure their system can work better than today.
I see the change of the new revolution in the bank system will happen in the future as we know that the technology section growth fast today so I think soon the adoption from the bank will happen.
In the history banks were honest, they provide real service to their customers. After some time banks became a monopoly on the market and started playing a dirty game. Now, they should be afraid of upcoming alternative system, that can overcame them, it only needs a time.
Banks and other big financial institutions caused all past world crysis. It is time for a revolution to protect ourselves from the next big economic crysis. Many experts said that next world crysis will be the biggest one! Buy gold, silver and crypto - these assets are safe haven.
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There have been different eras of money. There were times when the amount of certain precious stones you hold was used to determine your spending strength. At other times, commodities were considered money by exchanging them for other commodities. This was the barter system.
The part about commodity is interesting.
I guess commodity is money then?
So what if I exchange my home for a specific vehicle, will that be considered illegal in a world of KYC? Bartering is beautiful. It should not be seen as something primitive. I guess one day we will understand the importance of some of the things we think are primitive.
What do you mean by "crypto banking" by the way? Doesn't that qualify as reinventing the wheel?
One thing is fiat banking system won't be replaced by cryptocurrency.
there are numerous area around the world where Internet connection isn't a thing.
Many people around the globe don't have technical ability to relate with cryptocurrency.
Also with the volatility seen daily in cryptocurrency many people will always be sceptical of its use as the merchants/food vendors won't wish to make a sales today in Btc and by tomorrow the price drops by 5% its a huge loss to them. Fiat banking will be here as well as cryptocurrency.
there are numerous area around the world where Internet connection isn't a thing.
Many people around the globe don't have technical ability to relate with cryptocurrency.
Also with the volatility seen daily in cryptocurrency many people will always be sceptical of its use as the merchants/food vendors won't wish to make a sales today in Btc and by tomorrow the price drops by 5% its a huge loss to them. Fiat banking will be here as well as cryptocurrency.
Fiat money is the most popular kind of money today. It is a kind of money that is not backed by anything. It rather derives its value simply from the laws of supply and demand and the stability of the issuing nation. Just like fiat and its electronic banking system replaced the systems before it, crypto banking is showing signs of the next revolution in banking. This makes for a strong case when comparing banking then vs banking now.
There have been different eras of money. There were times when the amount of certain precious stones you hold was used to determine your spending strength. At other times, commodities were considered money by exchanging them for other commodities. This was the barter system.
Read the rest of the article here : https://www.tap.global/banking-then-vs-banking-now
Although cryptocurrencies are gradually replacing fiat currencies, have you ever imagined if one day the world would lose internet connection? Perhaps what I say is only fiction, does it really mean that when it actually happens, the identifier is disregarded?There have been different eras of money. There were times when the amount of certain precious stones you hold was used to determine your spending strength. At other times, commodities were considered money by exchanging them for other commodities. This was the barter system.
Read the rest of the article here : https://www.tap.global/banking-then-vs-banking-now
I think you will have the same answers as me for these questions. Have a good day bro!!
In the simplest terms Blockchain is basically a network of computers talking to each other. If the internet were to go down, we would rely on infrastructure elsewhere to help facilitate this, additionally banks would also feel this knock significantly.
Fiat money is the most popular kind of money today. It is a kind of money that is not backed by anything. It rather derives its value simply from the laws of supply and demand and the stability of the issuing nation. Just like fiat and its electronic banking system replaced the systems before it, crypto banking is showing signs of the next revolution in banking. This makes for a strong case when comparing banking then vs banking now.
There have been different eras of money. There were times when the amount of certain precious stones you hold was used to determine your spending strength. At other times, commodities were considered money by exchanging them for other commodities. This was the barter system.
Read the rest of the article here : https://www.tap.global/banking-then-vs-banking-now
There have been different eras of money. There were times when the amount of certain precious stones you hold was used to determine your spending strength. At other times, commodities were considered money by exchanging them for other commodities. This was the barter system.
Read the rest of the article here : https://www.tap.global/banking-then-vs-banking-now
Cryptocurrencies have every chance over time to supplant electronic banking and fully occupy this niche. This is because cryptocurrencies have a much lower transaction cost, and you can send them anywhere in the world to a person who has a public address of the forwarded coin. Transaction speed is usually only a couple of minutes.
It is much faster and cheaper than bank wire transfers.
I think banking will go with crypto in the future. Because the banks also doing everything digitally. The means we need digital currencies to do everything digitally. The next thing is the cryptocurrencies are better than fiat with digital systems.
Fiat money is the most popular kind of money today. It is a kind of money that is not backed by anything. It rather derives its value simply from the laws of supply and demand and the stability of the issuing nation. Just like fiat and its electronic banking system replaced the systems before it, crypto banking is showing signs of the next revolution in banking. This makes for a strong case when comparing banking then vs banking now.
There have been different eras of money. There were times when the amount of certain precious stones you hold was used to determine your spending strength. At other times, commodities were considered money by exchanging them for other commodities. This was the barter system.
Read the rest of the article here : https://www.tap.global/banking-then-vs-banking-now
Although cryptocurrencies are gradually replacing fiat currencies, have you ever imagined if one day the world would lose internet connection? Perhaps what I say is only fiction, does it really mean that when it actually happens, the identifier is disregarded?There have been different eras of money. There were times when the amount of certain precious stones you hold was used to determine your spending strength. At other times, commodities were considered money by exchanging them for other commodities. This was the barter system.
Read the rest of the article here : https://www.tap.global/banking-then-vs-banking-now
I think you will have the same answers as me for these questions. Have a good day bro!!
Fiat money is the most popular kind of money today. It is a kind of money that is not backed by anything. It rather derives its value simply from the laws of supply and demand and the stability of the issuing nation. Just like fiat and its electronic banking system replaced the systems before it, crypto banking is showing signs of the next revolution in banking. This makes for a strong case when comparing banking then vs banking now.
There have been different eras of money. There were times when the amount of certain precious stones you hold was used to determine your spending strength. At other times, commodities were considered money by exchanging them for other commodities. This was the barter system.
Read the rest of the article here : https://www.tap.global/banking-then-vs-banking-now
There have been different eras of money. There were times when the amount of certain precious stones you hold was used to determine your spending strength. At other times, commodities were considered money by exchanging them for other commodities. This was the barter system.
Read the rest of the article here : https://www.tap.global/banking-then-vs-banking-now
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