The Future of Finance: UN Predicts Decline of Banks and ATMs as Blockchain Goes Global
The United Nations is preparing for a radical shift in global finance, suggesting that the widespread adoption of blockchain technology could eventually render traditional banking institutions and ATMs obsolete. According to a UN representative, future financial transactions will only require a smartphone and internet access, bypassing intermediaries entirely.
To usher in this future, the UN is launching a Global Blockchain Advisory Group within the next few months, featuring key blockchain organizations like Ethereum, Stellar, and Polygon. This team's mission is to rapidly guide governments on implementing real-world blockchain applications, from welfare distribution to secure data management.
By training officials through a new Blockchain Academy and deploying this expert team, the UN aims to foster financial inclusion, particularly for the unbanked population in emerging markets. This initiative views blockchain not just as a technology, but as a critical tool for achieving Sustainable Development Goals (SDGs) by creating a more efficient, transparent, and decentralized global financial infrastructure.
