A change for our financial systems

[charlotte04]

In the last fifty years we have seen the following changes in our financial systems:
 The removal of the Gold Standard - Gold Standard was monetary system that directly links a currency’s value to that of gold. In 1971 the U.S. completely severed the link between gold and the dollar. The U.S. now has a fiat money system, meaning the dollar’s value is not linked to any specific asset. Fractional Lending – this is a banking system in which only a fraction of bank deposits are backed by actual cash on hand and are available for withdrawal. Eg: if you deposit $1000 into your bank account the bank will hold $100 and loan out $900 which goes out into circulation and back into a different bank, this time $90 is held by the new bank and $810 is lent out and the cycle continues, making money out of thin air.
 
This is why cryptocurrency is so popular, your money is truly your money. Millennials! They don’t think like us - Millennials are the most tech savvy generation and are already thinking about a cashless future according to Forbes magazine –they are putting their money where their thumbs are. The millennials are a part of a different 1%, who’ve not only heard of bitcoin, but are buying, selling, and trading it on their smart phones and laptops. What’s more, some millennials are using bitcoin as the basis for their long-term savings. They refuse to be stuck in our world.

Changing it in an instant way isn't that possible, there will be some kind of practices before they could start implementing a new technology for our financial system.

[GrayFullbuster]

The cryptocurrencies will become our new financial system but it will take time because people will not easily adopt cryptocurrencies. It takes time for them to understand what it is and its function in our economy.

[jhonjhon]

The cryptocurrencies will become our new financial system but it will take time because people will not easily adopt cryptocurrencies. It takes time for them to understand what it is and its function in our economy.

It is the system that could adopt the new generation as we are engaging into computer era.  We mostly love doing online including payment and with the new system, we could easily and freely do payment using crypto coins. 

[MiningSensei]

The switch from the "gold protocol" from the US dollar (which started to disappear after 1930) is something that was more than important.

Every dollar was backed by gold.

Nowadays, the united states do not even care about this, they just print as many dollars as they want and the inflation and debt is always going up.

This is normal after all, but in the long term, is not sustainable.

[darkangel020716]

In the last fifty years we have seen the following changes in our financial systems:
 The removal of the Gold Standard - Gold Standard was monetary system that directly links a currency’s value to that of gold. In 1971 the U.S. completely severed the link between gold and the dollar. The U.S. now has a fiat money system, meaning the dollar’s value is not linked to any specific asset. Fractional Lending – this is a banking system in which only a fraction of bank deposits are backed by actual cash on hand and are available for withdrawal. Eg: if you deposit $1000 into your bank account the bank will hold $100 and loan out $900 which goes out into circulation and back into a different bank, this time $90 is held by the new bank and $810 is lent out and the cycle continues, making money out of thin air.
 
This is why cryptocurrency is so popular, your money is truly your money. Millennials! They don’t think like us - Millennials are the most tech savvy generation and are already thinking about a cashless future according to Forbes magazine –they are putting their money where their thumbs are. The millennials are a part of a different 1%, who’ve not only heard of bitcoin, but are buying, selling, and trading it on their smart phones and laptops. What’s more, some millennials are using bitcoin as the basis for their long-term savings. They refuse to be stuck in our world.

Everything in this world are not stock in any, everything had to change, we are aware of that, we cannot see or felt that for an instant because its a matter of time to complete the changes, we are in modern world,  meaning all things can be visible online, people wants to complete their task faster everyday, so some people adopt crypto currencies. At the sametime they are have a full control to their money unlike the banks.

[Reid]

I hope that is all really happening by now.
But as I see it, these millennials are still being eaten by the banking industry.
Credit cards. They are still the most used by now since companies are using ATM cards as a means of their payroll payments.
I guess that is where it should start first. There is too much trust in using banks by now and they think it is still the secured type. Problem is you wont get any by just keeping your money at it. But the banks are making a lot of profits.