It is no secret that the nature of banking is changing. So far, the main driver for this change has been the shift towards digital banking. With that said, however, digital banking in the new economy is now facing an upheaval that could be even bigger than digitalization; in cryptocurrencies, blockchain technology, and decentralization.
As we enter an exciting new paradigm of finance and technology, many traditional institutions are struggling to keep up with the blockchain revolution. What once seemed like a pipe dream - providing financial services to the masses without the need for traditional banks - is now becoming a highly debated topic. As cryptocurrencies, blockchain technology and decentralized finance become increasingly popular, a seemingly radical question emerges: can crypto kill the banks?
Global economic parity has been a hot subject for discussion during many years. With the rise of industry and technology, the rich have become insanely wealthy, while the wealth divide has never been bigger. Can crypto end world poverty? In this article, we’ll explore some of the fascinating ways that blockchain technology is being used to transform the lives of many people, while providing an even playing field for economic parity.