Future of Banking & Payments - TOKEN2049 Singapore 2024
Discover the transformative concepts behind the 'Future of Banking & Payments' at TOKEN2049 Singapore 2024. In this enlightening talk, Deepa from the founding team at Nois B delves into the revolutionary potential of on-chain banking, or 'Banking 3.0'. Deepa provides an insightful journey through the evolution of banking—from the traditional systems of Banking 1.0 to the fintech innovations of Banking 2.0, and finally to the cutting-edge digital solutions presented by Banking 3.0.
Key highlights include an in-depth analysis of the limitations of legacy banking systems, such as high costs and inefficiencies inherent in traditional financial transactions. As an alternative, Banking 3.0 promises a borderless, efficient, and customer-empowering financial landscape powered by Web3 technologies. This new model offers users the ability to custody their own funds, interact seamlessly with decentralized applications, and connect traditional banking features with Web3 innovations, all while enjoying real-time transactions without intermediaries.
Deepa shares exciting advancements from Nosis Pay, including self-custody accounts, debit cards with unparalleled FX rates, and a groundbreaking move towards on-chain settlements in collaboration with Visa and Circle. These innovations promise to vastly improve transaction efficiency and reduce costs on a global scale.
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