The Rapid Evolution of the Blockchain Industry and its impact on global Payments

[Themepen]

The evolution brought about by the Blockchain Technology has made a real time positive impact to the way financial transactions used to be in the early days, and now with the different means of quick transaction confirmation brought about in this space.

A nearer future will make complete use of the blockchain technology for major transaction activities, and might lead to the disease of native banks, otherwise, the banking system will change in years to come. This technology has bridged the gap of international financial transactions and has made worldwide interaction even closer than ever, bringing like-minded people together, sharing ideas and knowledge.

Change from old slow ways to quick confirmations we have now is huge step forward. Blockchain has definitely made financial dealings much faster and simpler. Your idea that we will use blockchain even more for big transactions in near future seems very likely.  It is probable that banks will need to change much to stay important in world where blockchain speed and openness are becoming more and more common.

Also you are right to point out how blockchain has made it easier to do financial transactions between countries. By the way this technology help to connect world more closely making it easy for people all over to interact and share ideas and learn from each other. It is not just about sending money faster it is about bringing people together from all over world.

[Stuart]

The evolution brought about by the Blockchain Technology has made a real time positive impact to the way financial transactions used to be in the early days, and now with the different means of quick transaction confirmation brought about in this space.

A nearer future will make complete use of the blockchain technology for major transaction activities, and might lead to the disease of native banks, otherwise, the banking system will change in years to come. This technology has bridged the gap of international financial transactions and has made worldwide interaction even closer than ever, bringing like-minded people together, sharing ideas and knowledge.

Change from old slow ways to quick confirmations we have now is huge step forward. Blockchain has definitely made financial dealings much faster and simpler. Your idea that we will use blockchain even more for big transactions in near future seems very likely.  It is probable that banks will need to change much to stay important in world where blockchain speed and openness are becoming more and more common.

Also you are right to point out how blockchain has made it easier to do financial transactions between countries. By the way this technology help to connect world more closely making it easy for people all over to interact and share ideas and learn from each other. It is not just about sending money faster it is about bringing people together from all over world.

Yes, this is correct, the blockchain technology has played its own part in making the world a global village, where distance, race or religion is not of any use.
The way of transactions has been improved and with the coming years, new ideas and technologies in the blockchain industry will come, and if the native banking system doesn't work on making development at their end, they will be left behind or struggle to continue with the trend.

The native banks has lots of back-logs on their side, and majority of those back-logs has been fixed in the blockchain industry, which they have not seen yet.

[robelneo]

...with this rapid change, the blockchain is poised to become the leading transaction space in the near future.

I'm also hoping that it will happen, but government being the centralized regulator of every country will stop this from happening.
I'm satisfied with where we are at right now and will be happy that fiat and cryptocurrency will coexist and become the universal option for buyers and sellers. I don't think the majority of the governments will want their fiat to be relegated as a second choice.