The key to their improvement is to accept and begin to implement the blockchain technology. It will see a huge progress merging a modern day tech with a traditional financial sector, that's some big hit!!

I have read news about selfkey, I see the integration of one wallet with a bank will get problems, one of which is a problem when they want to build networks in countries that have not legalized cryptocurrency, for example Indonesia, can selfkey wallets be connected to banks there? Selfkey may be useful in the 10 countries they have mentioned, but we know that not all banks accept crypto, and not everyone uses a bank card that has a relationship with selfkey.

I think there is no centralized system that does not require KYC, selfkey also requires kyc, but the process may be faster, I think many centralized systems want to use a system without KYC in each of their entities, but we also have to understand, KYC is also important for building projects, apart from the KYC abuse problem.

If selfkey can really handle transactions without KYC then I am sure it will be a successful project. Currently, there are many people wishing to transact without KYC.
they are afraid of providing KYC and their personal information and are afraid of being sold to terrorists. That is why the demand is very large.

I think creating a bank account does look easier because you are assisted by several employees who work at the bank so creating a bank account is very easy, in contrast to a blockchain account which is a technology that does not help you to create an account and is ready to use for transactions.

Sure it could be much easier if we'll talk about how smooth the transaction would be. I haven't heard about SelfKey yet though. Are they even active now? Anyway, hopefully banks would give blockchain a chance. The greatest disadvantage if they'll be adapting to this new innovation, is that their entire system must be retooled.

A good thing in my opinion if it is applied. It will be very helpful in completing the process which has been considered too complicated. Hopefully, with the release of their bank account market, the complexity can be overcome.

We can not deny the fact that banks offered more secured system because they are centralized. We can only trust our KYC with them. But when it comes to conveniency, we can trust cryptocurrency. More easy transactions, easier to access and fast to monitor our funds. However, when it comes to secured personal info, since it gives anonymous transactions aside from exchanges where KYC is needed, then it is also give benefits.

Sorry, maybe a little off topic. But can someone explain to me why I should provide my personal data to any cryptocurrency startup or bank? Why do they need my personal data if all operations occur with an account, and not with my name.

This will really make the complete process of opening back account faster and easier.
Though, we have to see how the banks will use it. At the moment most kyc records are in centralized manner, introduction with blockchchain technology will definitely change it.

What are you talking about , what selfkey?

If you are thinking of some kind of digital key which is unique for any of us, then it would be very similar to the KYC. ID is unique information of each of us. Im this case there is not much difference anyways.

In my opinion, blockchain technology would be making a tremendous improvement on our financial system and practices. The issue of confirmation of funds received Could be easier and more genuine. Transfer of funds could be done with the speed of light. In summary, blockchain technology would bring greater efficiency to the banking sector.

I think eventually banks will themselves be using blockchain in all their services and use cases from account opening to payment transfers to global remittances all these can be made efficient, transparent and cheap using blockchain technology so banks no matter how much they are trying to avoid it will still implement blockchain soon amd we will see.

So, it makes some strange things.

You may deposit usdt from your bank account or something. Your information will be confirmed by the banks too

But, where's my anonymous thing? i mean, we always feel worried about personal life, blockchain can helps us. Not the bank where your account will be checked many times by govement.

This is my first time to hear that and just curious about how that bank account marketplace works? selfkey is not even cooperating with an institution of bank and how it can call to build the bank account marketplace?
I thought that if that can be an illegal marketplace. Basically, you just need a few minutes to open a new bank account and that doesn't need a lot of time but the mechanism that has been introced by selfkey looks very complicated for me.
I just wanna know how about the legal view for that bank account marketplace that will be made by selfkey.

As far as am concerned, blockchain technology is here to make things easier and more efficient. With blockchain technology, the kyc needed by the banks could be carried out much faster and individuals could complete their kyc from the comfort of their homes.

In my place you can create a bank account via online in just 5-10 minutes without going into physical bank location just using android/ios app and you can deposit instantly after creating of coures KYC must be submitted so whats the difference with this on Selfkey? Personally I dont know about it and how it applies blockchain and its usecase like bank.   

Could you please elaborate more on the red and bolded text? Like how would they do that.

For now, I don't think the rules will change, not with the KYC and AML processes required from the banks. They cannot do away with it even if they are going to use the blockchain technology in their banking system. The KYC and AML are required by law. Duly registered banks are bound to stay within the existing legal policies and regulations.