Blockchain continues to change the financial scenario
The characteristics of this technology are changing the way the stock exchanges operate as well as the mechanisms of payments and transfers of money
The projections for this year and for the long term with regard to blockchain technology in the banking sector are positive. Analysts believe that more than 50% of banks and financial institutions will use it widely by 2020.
It will be common to see that the world’s central banks and other financial organizations adopt blockchain platforms and decentralized systems that provide speed, transparency, security and confidence.
Users increasingly turn to the online banking, electronic commerce and the sending of remittances through cryptocurrencies. This trend will continue to rise to revolutionize the dynamics of stock exchanges, exchange houses and commerce in general, both at the individual and governmental levels.
By implementing blockchain platforms, banks pursue the reduction of operational costs, the reduction of paperwork and bureaucracy, as well as security and speed. All this with the help of other innovations such as the Internet of Things, artificial intelligence and devices for biometric identification or biopayment.
Cryptocurrencies, tokens and other assets that may arise as alternatives to fiat money and the intrinsic bureaucracy of cash in this digital race.
Undoubtedly, the digital transformation of banking is one of the main challenges faced by institutions around the world with blockchain platforms that seek to offer better customer services, branches with smart spaces, incorporation of chatbots and electronic invoices, as well as the offer of greater cybersecurity.
M.Pino
