What Does A Blockchain Look Like

The yr is nearly 2023, and the question is:


What does the future of banking look like for y’all and your business?

Allow’s accept a peek.

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Image by IvanKelmenchuk from Pixabay

Merely why the question?

Well, when it comes to the management of our money, the future of cyberbanking is a hot topic these days. At that place are two chief contenders contesting for control in this fight:

  1. In the ruby corner we take:
    Centralized banking
  2. And in the bluish:
    Decentralized banking

But who’s who? Who’s better? And who’ll come out on tiptop?

Let’s get ready tooooooooooooooooooo rumble!

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Image past Iván Tamás from Pixabay

Kickoff upward, we have centralized banking

This is the mode nosotros’ve been doing things for centuries – we’ve let big banks with their big hands hold onto
all
the money, and brand
all
the important decisions. Anyway, that’s their fighting style. Kind of like the bossy older sibling who
always
wants to exist in accuse of everything. The one who e’er says things like “I’ll hold onto that for you lot” or “Let
me
decide what we’re doing today.” Yeah, that centralized type of big brother.

Second up, is the contender: Decentralized banking

Decentralized banking is a fleck like a bunch of picayune siblings who all want to pitch in and have a say in things. Their all about sharing the power and controlling amid the grouping, rather than having one person boss everyone around. Their like the A-Team, their a team. Cheesy! Just permit’s movement on.

So, who’southward better: Centralized or decentralized banking?

Well, information technology really depends on what you’re into. If you like the idea (and understandably, the
convenience) of having someone hold onto all your financial power, then centralized banking is right upwards your alley. But if y’all’re more of a “everyone should have a say” kind of person, then decentralized cyberbanking might be more your fighting style.

But what could this hateful in the hereafter?!

Who’ll come out on peak: Centralized or decentralized banking?

Honestly, information technology’s difficult to say. Nosotros’ll likely run into a mix of both in the hereafter, with people and businesses choosing either centralized or decentralized banking systems based on:

  • How well that organization serves them
  • How much they tin trust it
  • How transparent information technology is
  • And how much command that system allows them to take over their financial wealth

And then whether you’re a fan of centralized or decentralized banking, one matter is for sure – the globe of banking is changing, and the possibilities are endless.

Maybe we’ll be lured into completely adopting the centralized and quite frankly, questionable
CBDC’due south – Central Bank Digital Currencies.

or

Possibly nosotros’ll end up choosing to use decentralized cyberbanking services.

or

Maybe we’ll just transact using some kind of futuristic money that doesn’t even involve banks at all (coughing! coughing!
Bitcoin).

Either fashion, it is almost certain that all these systems volition utilise Blockchain technology.

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Image by PublicDomainPictures from Pixabay

Conclusion

Mayhap (final possibly, infant!), we’ll realise that each option will have their own pros, cons, and utilise-cases.

Possibly centralized banking and CBDC’s will be more suited for thing like… paying taxes? Oh, and oppressing you lot. While decentralised banking will provide people with security and some peace of mind. And for those who prefer privacy above all, they’ll probably adopt Bitcoin and completely take control of their wealth – become their own banking concern.

Yes,
I
know, I didn’t quite hide my bias

confronting

centralized banking in this article but, heigh-ho *shrugs*.

Let me leave you with a sobering thought though:

Perhaps, we’ll realise that instead of pledging our fidelity to one particular system, it’ll exist far wiser to diversify our wealth beyond all the different systems – leveraging and taking reward of the best that each organization will have to offering. We’ll realise perhaps, that the time to
use systems to serve us, rather than being used past systems, and serving
them

,
is upon u.s..

Feed that which you lot want to come across grow, and…

E'er look on the brilliant side of life  - Eric Idle (Monty Python)
      

Poof!

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Source: https://www.linkedin.com/pulse/future-centralized-vs-decentralized-banking-what-sediba-shata

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