Bank of America foresees a cash-free society
Traditional banking continues its transformation with the arrival of blockchain technology and cryptocurrencies
The banking sector is accepting that digital currencies and cashless payment solutions are the future of the ecosystem. Therefore, Bank of America joined the unstoppable tendency to develop a cash-free society.
At present, several countries and powerful bankers recognize that technological innovations such as blockchain technology and the Internet of Things have condemned cash to its next demise.
Undoubtedly, technologies offer new possibilities and business solutions, which until recently were unimaginable. Traditional banking is going through a transition period to get rid of cash transactions.
Bank of America CEO Brian Moynihan said: “We want a society without money. We have more to gain than anyone from the point of view of operative costs.”
The banking industry continues to move towards digital models with more economical and efficient technology than traditional methods. The movement towards a cashless society is under way and is gaining momentum.
L.Sáenz
Source: Diario Bitcoin
