The finance industry is in a transition stage. The introduction of blockchain technology is gradually changing people’s perspectives about the traditional finance space.
Although digital currencies still have a long way to go before achieving full adoption across all facets of life, the ship is sailing and doesn’t show any signs of slowing down.
Despite the huge opportunities presented by the digital assets and blockchain industry, many financial institutions and businesses are still skeptical about it.
Every new technology goes through a hype phase. The blockchain technology included takes a long time to overcome the obstacles and utilize the energy to power the modern world. Even if there are numerous options, overcoming all of the obstacles will take time.
Some of the existing concerns about cryptocurrency;
- Criminal affiliation
The fact that blockchain technology is anonymous attacks not only experts but also criminals. Why? Because the network is decentralized, so no one will be able to determine one’s genuine identity.
- No regulation
This is one of the most difficult aspects of using blockchain technology in a company. Many businesses are using blockchain technology to conduct transactions. Many products will be dependent on this. However, there are currently no clear regulations in place. As a result, no one follows any precise rules regarding blockchains.
- Public perception
The absence of a knowledge base is another major barrier to adopting blockchain technology. Most people are unaware of the technology’s existence and possible use. If blockchain is to be successful, it must gain acceptance. While technology is making history, it is still insufficient to attract new customers.
With next-generation goods and features, Wallex is ready to disrupt the finance industry
Wallex provides financial solutions that are compliant, regulated and secure, allowing them to benefit from the digital transformation. In addition, the services are regulated and are subjected to the same capital requirements and audits as traditional financial institutions.
Wallex is an all-in-one asset and digital asset ecosystem that enables ordinary people to effortlessly enter the digital asset field and integrate crypto into their businesses and daily lives.
It provides innovative neobanking — i.e., online-only banking — and a full suite of services merging traditional finance and blockchain technology to serve individuals, businesses and fintech projects.
CEO and founder Simone Mazzuca believes that blockchain technology is the future of finance, largely due to the fact that transacting on the blockchain is available to anyone, and the fees associated with the transfers are essentially low. The most important feature that he values is complete transparency.
Wallex aims to assist firms in growing financially and taking advantage of the numerous prospects in the digital assets field.
Unique products offered by Wallex
- EURST: EURST is the first live-audited, euro-stable token asset-backed 100% with United States dollars. It has been created to upgrade the European digital economy by making it more accessible, transparent and fully reliable. It is the most compliant and insured tokenized fiat currency for transfers and deposits.
- Neobanking: As the future bank service for multi-currency fiat and crypto payments, neobanking bridges the gap between traditional banks’ services and clients’ changing expectations in the digital age. It is transforming fintech.
- Custody: A qualified custodian providing flexible and secure solutions
- Digital assets: Trading, staking, lending and borrowing for digital assets
- Pay: a fiat and crypto booster to increase cash flow. In addition to being a one-stop solution for all banking and finance activities, Wallex serves individuals, businesses, brokers and innovators.
The bottom line
Despite concerns regarding blockchain technology, Wallex sees that there is a bright future ahead of the industry and is here to provide reliable and innovative services. Major institutional players have entered the digital assets space, undoubtedly, as they’ve come to realize the potential of cryptocurrencies and blockchain technology.
Wallex creates a connection between traditional and cryptocurrency businesses to revolutionize the financial sector.