Global banking systems

[Ujok]

It's true that now banking or digital currency is very important, but that's all only for people who know digital currency. Indeed, people know that digital currency is global, but not everyone in that country necessarily uses digital currency banking, it's just that digital currency banking has better quality than regular banking. In conditions like this, digital currency banking has many advantages compared to regular banking.

[Bobcrypto]

Cryptocurrency has a better return on investment in comparison to the traditional banking system. The ability to transfer to anyone Anywhere in the world has an impact in terms of how money is being used and transferred and it is somewhat beneficial but of course, we all know if it is illegal it shouldn’t be done Anywhere.

I think soon it would be more leaning towards the cryptocurrency applications compared to the traditional ones.

As you are aware, it is very obvious that transferring money using the traditional banking system is quite expensive and time consuming, it can't be compared with transferring money using cryptocurrency wallets like Matamask, Trustwallet etc.
On the investment perspectives, earning through crypto investment is also very attractive with batter APY rates especially using some of the crypto CEX exchange's flexible or fixed savings plans.
whichever ways we look at the traditional banking system with the crypto economy, I think the crypto sector is better and will lead the global financial system in near future.

[rachael9385]

The local bank had played a very vital role and are still trying their best to find it more affordable for customers but I think it's too late to do that it's too late to steal the heart of customers who already fell in love with what cryptocurrency has been doing, since the introduction of crypto currencies people no longer confined in banks anymore especially those involved in online business.

[Hatchy]

In our society today, global banking systems has played a crucial role in our interconnected world, enhancing economic transactions,  providing quality financial services across borders.
The flow of money and the availability of services like wire transfers and foreign exchange has improved the rate of international trade and investment which tend to connect people and businesses from different parts of the world . Hence, global banking systems fosters economic growth and development.

Well, banks has been the oldest form in which man stores their money. They have played to many roles in shaping our society since the early men. What we actually should know is that the banks will most likely remain as without them the monetary system might collapse.  Even with the invent of cryptocurrency where everyone can be their own bank, we still have some flaws that's involved. Not everyone is able to properly keep their coins safe and so they will still have to fall back to the banks for help.

[Findingnemo]

In our society today, global banking systems has played a crucial role in our interconnected world, enhancing economic transactions,  providing quality financial services across borders.
The flow of money and the availability of services like wire transfers and foreign exchange has improved the rate of international trade and investment which tend to connect people and businesses from different parts of the world . Hence, global banking systems fosters economic growth and development.

Well, banks has been the oldest form in which man stores their money. They have played to many roles in shaping our society since the early men. What we actually should know is that the banks will most likely remain as without them the monetary system might collapse.  Even with the invent of cryptocurrency where everyone can be their own bank, we still have some flaws that's involved. Not everyone is able to properly keep their coins safe and so they will still have to fall back to the banks for help.

Banks are necessary only to have loans and it's pretty much inevitable that every running business has debt that keep the money circulating in the economy which looks like a good thing but in the long stretch the loan is what causing the banks to print more money that result in the inflation so at the last only users are affected due to the system.

Even though banks helped people to connect and do international trades even for retail now we have bitcoin that is far better and almost no restrictions for cross border transfer while bank transfer still take days and some TXs can be blocked for multiple reasons.

[Aanuoluwatofunmi]

In our society today, global banking systems has played a crucial role in our interconnected world, enhancing economic transactions,  providing quality financial services across borders.

This was a thing of the past, people no longer have interest in all these, we are tired of running under a centralized system, that is why ever since the introduction of crypto and bitcoin to be precise, things have always changed from the norms, because they people realized the way it could help them have control over their finances, that is why it has turned a blooming development and invention every since 2009, the banks may exist and always remained, but the people knows what they want and how they can acheive it.

[Agbe]

In our society today, global banking systems has played a crucial role in our interconnected world, enhancing economic transactions,  providing quality financial services across borders.

In 2020, I wanted to pay for a Journal publication in India from Nigeria and I couldn't do it because there was no option for Nigerian Currency and I went to bank and the bank told me that I need to open dollar account and the process was combersome so I left the publication. So I didn't see any good for the Global Banking system. And that is service across board is not well implemented and the only boarderlesss transaction system is cryptocurrency.

[Stuart]

In our society today, global banking systems has played a crucial role in our interconnected world, enhancing economic transactions,  providing quality financial services across borders.
The flow of money and the availability of services like wire transfers and foreign exchange has improved the rate of international trade and investment which tend to connect people and businesses from different parts of the world . Hence, global banking systems fosters economic growth and development.

I think the global banking system has played its role in time past, and now is trying to catch up with the digitalized nature of the current day market system. Digital currencies has brought forth a new view for the banking industry, and now, their services (though cannot be underemphasized) is still needed, cause not everyone has fully switched to the crypto market, and even if that happens, the need for banking system will remain.

As much as the banking system is needed, it now has a low return when it comes to investments. The crypto industry has overtaken that part, banks in almost every way take and doesn't give back, but in this industry of digital currency, it takes and give multiples in return. Digital investment is more profitable compared to investing in bank shares.

[Dr.Bitcoin_Strange]

In order to keep up with the current world, the role of strong currency is immense.  The World Bank was created when Kipp did not come into the world.  People have been using this banking service for a long time.   But nowadays, as people have gained a lot of knowledge about crypto currency, bank transactions have reduced to a great extent. A little currency transaction is much more beneficial than a hassle-free bank transaction and that is why people are choosing from different types.

Very correct because now that people has gain a lot of knowledge and understanding on how lives can be easier for them to survived, because during the time when people don't know about cryptocurrency and its benefits, before one can get access to their in banks, they have to undergo some stress before they can finally succeed in it but now that technology and with the help of crypto, one don't really need to undergo such stress's any more, that is why most people are involving themselves in crypto than associating with bank transaction just as you said.

[Stompix]

This was a thing of the past, people no longer have interest in all these, we are tired of running under a centralized system, that is why ever since the introduction of crypto and bitcoin to be precise, things have always changed from the norms, because they people realized the way it could help them have control over their finances, that is why it has turned a blooming development and invention every since 2009, the banks may exist and always remained, but the people knows what they want and how they can acheive it.

And what are you replacing banks with?
How are you going to take a loan when, with crypto, you first need collateral to take a loan?
How many people are actually using banks as we speak, and how many are dealing with cryptos other than just trading?

In 2020, I wanted to pay for a Journal publication in India from Nigeria and I couldn't do it because there was no option for Nigerian Currency and I went to bank and the bank told me that I need to open dollar account and the process was combersome so I left the publication. So I didn't see any good for the Global Banking system

Lol, so because your banking system in Nigeria sucks suddenly the entire global banking system is not needed.
Let's have an exercise of imagination and say banks in Europe and US stops making transactions, including VISA and Mastercard, wanna bet that you will feel the effect down to every bone even in Nigeria?