The metaverse is the next form of the digital society and it is a new way of user interaction with new technologies. The banking industry is still young, and it will not affect banks, but it will be digital currencies for customer experiences like metaverse, and graphics.
‘Metaverse’ offers banks an adoption that helps bring humans and experiences back into banking. Customers walking into the virtual branch can interact with content and a real-life agent via video call.
A digital currency allows financial transactions in the virtual world. They are carried out instantly and securely using the blockchain technology behind the cryptocurrency. There is more involved with cryptocurrencies, the blockchain, and the metaverse.
People are already spending real money on virtual assets, and are ready to spend real money. Fintechs are based on digital so they are more likely to play a definitive role in banking in the metaverse.
People want to spend more time in the real world. The banking industry is still under digitalization. The author is the founder and CEO of lumiq. He says ML and AI can affect the market, but can also have an impact on legacy banking.