The financial industry is currently experiencing a massive shift, maybe one of the biggest in history. The shift started a long time ago, but as years went by, it started getting more and more heated, instead of being just a passing trend, as many had expected. On the one hand, there are debates of universal basic income, and a transition to the new form of money, known as the digital currency. This even led to talks about a cashless society, and what consequences such a move might have.
Of course, these changes did not come by themselves — they were sparked by massive advances in modern technology, particularly when it comes to blockchain tech. Not only is the blockchain a technology on which cryptocurrencies can operate, but it also goes beyond that, promising to disrupt nearly every industry out there, in one way or another.
After resisting for over a decade, banks, financial institutions, and even corporations are starting to accept the shift as something that is here to stay. We have seen proof of this in JP Morgan’s…