In coming years it's possible blockchain Take place a banking system currency exchange change every one dealing in online system blockchain is one site to sell and puschase the money it's possible I think blockchain get a banking system
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I know that is really the truth but there is a possibility that block chain technology in the future will affect the economy of the whole world negatively, if everything in the whole world is now digitalize the economy of the world will be affected and alsy the rate of unemployment will increase automatically.Blockchain technology has transformed the banking sector by combining shared database with cryptography, smart contracts, and digital payments. Learn use cases of blockchain technology in the banking system that allows multiple parties to secure transactions.
I think my country even needs the block chain technology to clear the useless backlogs users experience on top of our money. Imagine transferring money during the weekend and doesn't get delivers till weekday because of poor Network.The banking system needs to incorporate the block chain technology into their way of doing things to promote transparency and efficient delivery of services. This should be done by all sectors and not just banking sector.
Yes, the process will be a gradual one indeed. Only time will tell, if blockchain processing if transactions around BTC and ETH will improve and like other small coins type, and become super fast too. That will enable crypto transactions to be faster and preferable to our local bank type.The blockchain technology will actually bring a great change into the fincial sector,as the rate of transaction delayed will be reduced,and fees for transfer are less compared to those charged by the financial institution,but i think the process will be a gradual thing to impliment,because of its decentralise nature.
I could imagine such scenarios with some banks here. They are always having network issues be it at the ATM machines or even using the apps and ussd codes. It can be quite frustrating.I think my country even needs the block chain technology to clear the useless backlogs users experience on top of our money. Imagine transferring money during the weekend and doesn't get delivers till weekday because of poor Network.
It can be very frustrating especially if you're on a deadline, I remember when the company had to use my account to send some money because of this same network, the money could not be withdrawn for days!I could imagine such scenarios with some banks here. They are always having network issues be it at the ATM machines or even using the apps and ussd codes. It can be quite frustrating.
Very frustrating indeed, especially here in my locality. Everyday i get charged and at times my withdrawal hang in the air, and i have to wait for weeks before seeing my funds returned when i file legal proceedings. That's pathetic enough, but in crypto I've not heard that, one sent funds to another wallet address correctly and the money didn't go through.I could imagine such scenarios with some banks here. They are always having network issues be it at the ATM machines or even using the apps and ussd codes. It can be quite frustrating.
What banks are sharing their database with cryptographic systems? This is the first time that I have heard of that. Banks have their database that are secured with the backups and the passwords of several levels although it is not hack-proof, so to speak.The blockchain technology has transformed the banking sector by combining shared database with cryptography, smart contracts, and digital payments. This also allows multiple parties to secure transactions.