• Mon. Mar 4th, 2024

Morgan Creek CEO Says ‘Crypto-Blockchain Technology Can Make up for a Bank-less Society’

Oct 18, 2020
Morgan Creek CEO Says ‘Crypto-Blockchain Technology Can Make up for a Bank-less Society’

There was a time when the traditional banking was considered to be the only financial facilitator for a common person. With time, it seemed that this perception was hardcoded in any person who was somehow connected to banking. If one had to do savings, acquire loans, mortgages etc. then the bank was the only point of contact.

Now the concept has started to change since the year 2009 when the first-ever decentralized cryptocurrency – Bitcoin (BTC) was launched. Since then, the perception has started to change and now people have started leaning more towards the decentralized platforms.

Although the crypto-blockchain (decentralized) platform is constantly evolving, the current year has been something else for this platform. The current year alone has brought in 65 million unique users to this platform who are now eager to try their luck and make profits.

Due to its revolutionary framework and infrastructure, even the countries have now started adopting this technology and are now aiming to take the lead in adopting this technology to the fullest.

Just recently, Mark Yusko, who is currently the CEO at a multi-billion dollar investment firm, Morgan Creek Capital has made a shocking prediction. As per Yusko, the crypto-blockchain technology and its adoption across the globe would eventually result in the entire world becoming bank-free.

Mark Yusko stated that at the moment, a silent revolution has been building up, which is mainly powered by cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC) etc.

Once this revolution is done building up, it will emerge as a system that will eventually take over the entire world. A decentralized platform, which at present is considered unusual, will become common. When this happens, the traditional banking system will eventually start fading away until the entire world becomes bank-less.

Yusko did clarify that by bank-less world he does not mean that the banks will be eradicated completely from the world. He stated that people will find ways to bank themselves through the crypto-blockchain platforms. Adding to his statement, Yusko mentioned that the world would still need banks for lending digital fiat or digital currencies.

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