The evolution of cryptocurrency in the world is simply amazing, and since the introduction of crypto in this world, the world has spread like wildfire. Everyone is becoming interested in cryptocurrency, and trading volume is increasing. Investors are looking to put their money into Bitcoin.

BLOCKCHAIN TECHNOLOGY ALLOWS FOR FAST TRANSACTIONS WITH LOW FEES.

Blockchain technology has progressed to become one of the most advanced technologies, allowing for quick transactions with low fees. You can transfer any cryptocurrency to any account in seconds with no or low fees. The good news is that this cryptocurrency can be transferred all over the world using blockchain technology.

As a result of the advent of crypto, banking systems have been ruined, and the entire governmental system has been shaken. The banking industry and international banks worked hard to derail the advent of blockchain technology and did everything they could, but they were unsuccessful.

Big economic countries always try their hardest to derail this technology by prohibiting their citizens from using cryptocurrency. However, nothing can stop this technology from progressing and becoming more advanced. The only thing that people care about is a reliable and quick transaction.

This technology is causing issues for the banking system, but it is the reality that every government must face. If crypto is legally accepted all over the world, I believe there will be few banks left for small transactions and all other large transactions will be done using crypto technology.

Cryptocurrencies, I believe, will wreak havoc on the banking system in the near future. According to the most recent predictions, 90% of European Council members believe blockchain technology will change the industry by 2030. The world is rapidly adopting blockchain technology, particularly in the private sector, which is signing agreements for future business.

CRYPTOCURRENCIES ARE CREATED ON THE PUBLIC BLOCKCHAIN

Cryptocurrencies such as Bitcoin and Ethereum are built on a public blockchain, which allows anyone to send and receive money quickly and securely. The benefit of this blockchain is that it eliminates the need for a third party and allows for fast and reliable transactions.

Banks, on the other hand, offer services to their customers but are dissatisfied with their transaction services. People have grown tired of going to banks and waiting in line for their transaction to be processed. You will be charged for international charges, and you may be given counterfeit notes.

Banks will make you wait for transactions to be completed, and banking does not provide 24 hour service. When banks close, you will be unable to send and receive large sums of money, but you will be able to do so via the blockchain system. You will be able to conduct online transactions while staying at home thanks to blockchain technology.

This technology is extremely difficult for the banking industries, and they are doing everything they can to make it fail. However, no one can stop the advancement of technology, which is why cryptocurrency is a concerning situation for the banking system. There is no doubt that this technology will soon replace the banking system.

This is an effort on my part to inform you about blockchain technology and its advancement around the world, as well as how the banking system will be disrupted. I hope you enjoy reading the post; if you do, please leave a review in the comment section so that the next post can be even better. Thank you for sticking with me until the end.

IMAGES AND GIF TAKEN FROM CANVA, EDITED IN CANVA

REMEMBER: We should prepare for the unexpected and hope for the best. Life may not be easy, but you must do your best and leave the rest to God.

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