Banks vs. Blockchain: who will control the future of money?
What if the future of money isn’t a clean break from the past, but an uneasy fusion of everything we thought couldn’t coexist?
The global financial landscape is undergoing a transformation so profound that it’s hard to ignore. According to the World Economic Forum, the global financial system is experiencing a “seismic shift” driven by a confluence of structural forces that are forcing a fundamental reconsideration of how global finance operates. Rather than seeing traditional systems and emerging technologies as opposing forces, they’re blending together in ways that challenge everything we thought we knew.
Central banks, public blockchains, and established financial institutions are no longer separate entities; they’re becoming pieces of a new, hybrid puzzle. This shift isn’t just an evolution; it’s a reimagination of how finance operates on a global scale, creating a future that’s not only digital but increasingly interconnected. So, what does this mean for you? The rules are changing, and if you’re not paying attention, you might just miss the most exciting revolution in finance.
Blockchain is moving to the back end
Blockchain technology is shifting away from consumer-facing speculation. Fintech leaders interviewed by Wharton in late 2024 predicted that blockchain would increasingly power back-end operations like settlement and asset issuance, rather than serve as a platform for speculative trading.
In 2025, it was found that a quarter of bank blockchain investments were focused on core infrastructure rather than consumer apps.
A tug-of-war over trust
Despite the rise of blockchain, banks still dominate the global financial system. According to the World Bank’s Global Findex 2025 report, around 1.3 billion adults remain unbanked, despite record-high account ownership, which reached 79% globally and 75% in low- and middle-income economies.
However, the popularity of public crypto assets, which peaked at a multi-trillion-dollar market in 2021, indicates a growing trust in decentralized networks. Many users are placing more faith in technology than in traditional banking systems.
DeFi’s challenge to bank intermediation
Decentralized finance is shaking up traditional banking services such as lending and trading. Unless banks adapt, they will lose their dominance in deposit-taking and lending to decentralized platforms.
Banks are quietly going “on-chain.”
Rather than resisting blockchain, banks are embracing it. A report cited by CoinDesk found that traditional financial institutions invested over $100 billion in blockchain-related projects and digital asset infrastructure between 2020 and 2024.
Banks are clearly betting on blockchain to maintain their grip on the financial rails.
Financial inclusion: banks vs wallets
Despite the increase in financial inclusion, many adults remain unbanked. However, digital wallets and blockchain-based services are gaining traction. Unbanked adults have access to mobile devices, signaling a shift to digital finance that could bypass traditional brick-and-mortar banks.
CBDCs put central banks in the game
Central banks are also jumping into the digital money space. According to the Atlantic Council’s CBDC Tracker, over 100 countries, with figures reaching 134-137 jurisdictions by 2025, are exploring or piloting CBDCs, representing over 95% to 98% of global GDP.
A digital euro, for example, would be safe, easy to use, and free of charge, an effort to future-proof sovereign currencies against private stablecoins.
Who sets the rules: regulators or protocols?
Regulators continue to push for stability within the banking sector. Global guidelines on crypto exposure limits and capital requirements aim to keep banks at the center of financial stability.
Blockchain is here to stay, with many major banks now having digital asset teams in place. The increasing adoption of tokenization and CBDCs may disrupt traditional banking as we know it.
The most likely future: a hybrid money stack
Rather than one technology prevailing, experts foresee a hybrid system in which banks, blockchains, and central banks all play a role in shaping the future of finance. According to Elliptic, nearly 65% of financial institutions plan to accelerate their digital asset strategies, including initiatives such as tokenized assets and crypto services, over the next two years to remain competitive.
Key takeaway
The future of money will not be controlled by a single entity but rather by a collaboration among banks, blockchain, and central banks. While banks continue to invest heavily in blockchain, decentralized finance, and CBDCs, these developments are challenging traditional systems.
As a result, we are likely to see a hybrid financial ecosystem in which these elements coexist and complement one another.
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