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Cryptocurrency Has Hijacked the Banking System and Will Revolutionize Global Money

Published 1 year ago

Cryptocurrency Has Hijacked the Banking System and Will Revolutionize Global Money

Financial Newsweek via

This is where cryptocurrency has hijacked the system in terms enacting a feasible, advanced transactional process that guarantees a transaction. The “unregulated” world of crypto is one of the most powerful processes in the digital age and enacts a better system to process payments..

Here are the top three ways cryptocurrency is helping to democratize global transactions. There is software that can process crypto transactions by exchanging crypto/fiat, provide back-end support and keep transaction ledgers—as opposed to traditional banks internal processes—which may take longer..

When moving cryptocurrency, some processes can essentially expedite this process and create a more seamless transaction. Crypto also encounters a lower transaction cost to process payments and the blockchain technology behind it allows it to eliminate middle men, making transactions easier and more secure..

For small and mid-size companies, if they use crypto in their payment system they can potentially reduce their transaction costs and improve their supply chain with their global vendors on cross-border transactions. In my experience, cryptocurrency has the potential to grow the economy effectively and productively without hindering the payment process..

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