CZ: Future Finance Will Rely Less on Physical Banks
At the 2026 World Economic Forum in Davos, industry leader CZ predicted a significant decline in the demand for traditional banks within the next decade. This shift is driven by advancements in blockchain technology and digital identity verification methods like KYC, reducing the need for in-person banking services.
While banks themselves won't disappear, their physical branches are expected to shrink considerably. CZ noted that digital solutions are increasingly replacing traditional banking functions, allowing users to manage most of their financial needs without visiting a branch.
Doubt Cast on Bitcoin as a Direct Payment Method
CZ also expressed caution regarding the use of Bitcoin for direct payments. Despite years of development in the space, he believes widespread adoption still faces major hurdles. He emphasized that innovations in payment systems must balance security with convenience, something the current infrastructure has yet to fully achieve.
Meme Tokens: High Risk, Uncertain Future
CZ also raised concerns about the Meme token trend, comparing it to the earlier NFT and Metaverse booms. These assets, he warned, are highly speculative and carry significant risk. While projects like Dogecoin may endure due to their cultural impact, most Meme tokens are unlikely to stand the test of time.
- Blockchain accelerates digital finance transformation
- Bank branch networks to shrink significantly
- Meme tokens: high risk, limited long-term potential