Deutsche Bank: Cash will be Eliminated in 10 Years
John Cryan, CEO of Deutsche Bank AG, a German global banking and financial services company, predicted that cash will not exist in the next ten years. Cash is inefficient and expensive, he explained, while mentioning fintech as a possible substitute to replace fiat money. Since the beginning of 2015, an increasing number of banks and financial organizations have proposed the implementation of a cryptocurrency or a centralized blockchain-based token to potentially replace cash as the official currency of the central bank. By integrating a certain set of technical rules that would provide....
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