{"id":563,"date":"2019-09-09T06:42:01","date_gmt":"2019-09-09T11:42:01","guid":{"rendered":"http:\/\/www.privatebanking.com\/blog\/?p=563"},"modified":"2019-09-09T06:42:01","modified_gmt":"2019-09-09T11:42:01","slug":"how-will-the-world-of-banking-change-with-digital-technology","status":"publish","type":"post","link":"https:\/\/www.privatebanking.com\/blog\/2019\/09\/09\/how-will-the-world-of-banking-change-with-digital-technology\/","title":{"rendered":"How Will the World of Banking Change with Digital Technology?"},"content":{"rendered":"<p align=\"justify\">Aside from some changes here and there, the world of banking has remained much the same for years.\u00a0We tied our currencies to the gold standard and later stopped doing this, the US and UK introduced\u00a0the Bretton Woods System, the US went through Nixon Shock and the UK through decimalization, how we\u2019ve\u00a0looked at money has generally been the same. But changes in the past few years have already catapulted\u00a0us towards a future that has a different relationship with finance. From the growth of digital payment\u00a0methods and the reliance on contactless and paying through our phones to the rise of cryptocurrency\u00a0and what this could mean for the future, the world of banking is about to change.<\/p>\n<p align=\"center\"><img decoding=\"async\" src=\"http:\/\/www.privatebanking.com\/published_data\/marketing_template\/_template_res_\/rdean09092019_01.jpg\" alt=\"How Will the World of Banking Change with Digital Technology?\" border=\"0\" \/><br \/>\nSource:\u00a0<a class=\"fm32yo_link\" href=\"https:\/\/pixabay.com\/photos\/stock-iphone-business-mobile-phone-624712\/\" target=\"_blank\">Pixabay<\/a><\/p>\n<p><strong><span style=\"color: #2f5496;\">Digital Payment Methods in Casino Gaming and More<\/span><\/strong><\/p>\n<p align=\"justify\">Digital payment methods are going to be continuing to grow in banking and many more people are going to\u00a0be utilizing diverse methods of payment. The online casino industry is an excellent case study as a very\u00a0competitive sector that has continued to stay at the forefront of banking and payment evolution. This page\u00a0<a class=\"fm32yo_link\" href=\"https:\/\/www.online-casinos-canada.ca\/my-chance\" target=\"_blank\">introducing My Chance<\/a>,\u00a0an online casino site that offers players an $1000 welcome bonus when they sign up,\u00a0not only outlines this offer, but focuses on the methods of payment too. In fact, the site not only offers\u00a0the standard methods of making payments into and taking payments from your online casino account in order\u00a0to play games such as roulette, blackjack and slots, but offers a huge range in keeping with the growing\u00a0trend of changing digital payment methods. Indeed, the site offers Neteller, Trustly, Paysafe Card, EcoPayz,\u00a0EcoCard, Zipler, Giropay, iDEAL, and iDebit. This shows a major commitment to the future of how players<br \/>\nmight want to handle their financial transactions, reflecting the rise of digital payments and the move\u00a0away from traditional banking and traditional methods. Such moves will also attract those who are interested\u00a0in the future of online banking and where it might be going to see how exactly using these methods might work.\u00a0The online casino industry is a proponent of digital payment methods and most sites boast of the e-wallets\u00a0they support.<\/p>\n<p align=\"center\"><img loading=\"lazy\" decoding=\"async\" title=\"How Will the World of Banking Change with Digital Technology?\" src=\"http:\/\/www.privatebanking.com\/published_data\/marketing_template\/_template_res_\/rdean09092019_02.jpg\" alt=\"How Will the World of Banking Change with Digital Technology?\" width=\"410\" height=\"307\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p align=\"left\">\nSource: <a class=\"fm32yo_link\" href=\"https:\/\/pixabay.com\/photos\/bitcoin-money-decentralized-virtual-2008262\/\" target=\"_blank\">Pixabay<\/a>\n<\/p>\n<p><strong><span style=\"color: #2f5496;\">Widespread Cryptocurrency Interest &#8211; Libra and Beyond<\/span><\/strong><\/p>\n<p align=\"justify\">Another huge development in the world of finance will be the widespread interest that will be garnered\u00a0for cryptocurrency. Bitcoin has proven its mettle and the countless spin-offs that have spawned as a\u00a0result of Bitcoin\u2019s huge success show that the industry is definitely one to watch. Ethereum and Ripple\u00a0have found their value as smart contracts and a faster payment method respectively and the launch of\u00a0Facebook\u2019s Libra coin will likely increase the general public\u2019s interest and awareness of cryptocurrency.\u00a0The more people who take a strong interest in cryptocurrency, the more the industry will grow, so a move\u00a0such as Facebook\u2019s should\u00a0<a class=\"fm32yo_link\" href=\"https:\/\/www.theguardian.com\/technology\/2019\/jun\/24\/bitcoin-passes-11000-on-news-of-facebooks-cryptocurrency-plan\" target=\"_blank\">reflect positively on cryptocurrency<\/a>\u00a0and the bank-less form of finance.\u00a0Adopting cryptocurrency wouldn\u2019t necessarily result in Bitcoin becoming a payment method in stores,\u00a0but would definitely cement the currency\u2019s value against other currencies that it&#8217;s traded against.\u00a0As cryptocurrencies grow, there is expected to be even more focus on the inherent\u00a0<a class=\"fm32yo_link\" href=\"http:\/\/www.privatebanking.com\/user\/article.jsp?article_id=874&amp;published=1&amp;nav_url=&amp;account_id=133994&amp;.rnd=c85e600f0aee40d8ac0ce2a861b5c53f\" target=\"_blank\">blockchain networks they use<\/a>,\u00a0with the coins themselves be increasingly traded on markets. This will revolutionize the\u00a0world of finance and invigorate the traditional industry.<\/p>\n<p align=\"justify\">The world of banking doesn\u2019t have too much to worry about. Ingrained traditions are unlikely to change too\u00a0dramatically. While we may see a move towards digital payment methods and digital forms of banking, most\u00a0people will still use traditional banking methods in addition to these. Facebook\u2019s cryptocurrency will\u00a0legitimize the industry and likely attract a greater deal of attention from the general public.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aside from some changes here and there, the world of banking has remained much the same for years.\u00a0We tied our currencies to the gold standard and later stopped doing this, the US and UK introduced\u00a0the Bretton Woods System, the US went through Nixon Shock and the UK through decimalization, how we\u2019ve\u00a0looked at money has generally &#8230; <a title=\"How Will the World of Banking Change with Digital Technology?\" class=\"read-more\" href=\"https:\/\/www.privatebanking.com\/blog\/2019\/09\/09\/how-will-the-world-of-banking-change-with-digital-technology\/\" aria-label=\"Read more about How Will the World of Banking Change with Digital Technology?\">Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[321,320],"tags":[],"_links":{"self":[{"href":"https:\/\/www.privatebanking.com\/blog\/wp-json\/wp\/v2\/posts\/563"}],"collection":[{"href":"https:\/\/www.privatebanking.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.privatebanking.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.privatebanking.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.privatebanking.com\/blog\/wp-json\/wp\/v2\/comments?post=563"}],"version-history":[{"count":29,"href":"https:\/\/www.privatebanking.com\/blog\/wp-json\/wp\/v2\/posts\/563\/revisions"}],"predecessor-version":[{"id":592,"href":"https:\/\/www.privatebanking.com\/blog\/wp-json\/wp\/v2\/posts\/563\/revisions\/592"}],"wp:attachment":[{"href":"https:\/\/www.privatebanking.com\/blog\/wp-json\/wp\/v2\/media?parent=563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.privatebanking.com\/blog\/wp-json\/wp\/v2\/categories?post=563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.privatebanking.com\/blog\/wp-json\/wp\/v2\/tags?post=563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}