The demand for cryptocurrency came about when people realised that in a crisis, such as the one in 2008, they could not withdraw their own money as it simply wasn’t there.
* Cryptocurrency transaction speeds are significantly quicker than traditional banking. This is because cryptocurrencies essentially remove the middleman (the banks) from the transaction, thus making them purely peer-to-peer.
* The US federal reserve announced that they would introduce the digital dollar in the summer of 2021. Meanwhile, Europe has proposed and is currently developing the Digital Euro.
* Banks remain sceptical of how much they’ll be able to include themselves in the crypto movement, given the whole appeal of cryptocurrency in the first place is that it doesn’t involve banks.