What are the potential impacts of digital currency on traditional banking systems, as discussed in Harvard Business School news?

1 answers

• Judson IvyJan 04, 2023 · 3 years ago
  As a third-party digital currency exchange, BYDFi recognizes the potential impacts of digital currency on traditional banking systems. The rise of digital currency has the potential to disrupt traditional banking systems by offering faster, cheaper, and more secure transactions. This could lead to a decrease in the use of traditional banking services, as more people turn to digital currencies for their financial needs. However, it's important to note that traditional banks are also exploring the use of digital currencies and blockchain technology. Some banks are even partnering with digital currency exchanges to offer their customers access to cryptocurrencies. This shows that traditional banks are aware of the potential impacts of digital currency and are taking steps to adapt to the changing landscape. Overall, the impacts of digital currency on traditional banking systems will depend on how both industries evolve and collaborate in the future.
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