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JUST IN: ATM in Jeopardy, Cash Transactions Replaced by Pi Network and the Digital Currency Revolution - hokanews


JUST IN: ATM in Jeopardy, Cash Transactions Replaced by Pi Network and the Digital Currency Revolution - hokanews - Technological developments and innovation in the world of finance have brought us to a new era where digital currencies such as the Pi Network are increasingly gaining recognition and acceptance. In this context, the role of ATM machines in cash transactions may face a serious threat. Slowly but surely, we are seeing a fundamental shift in how we interact with cash and a possible shift towards digital currencies like the Pi Network.

Effects of Digital Currency Development:

Pi Network is one of the latest innovations that adopts blockchain technology to create a decentralized cryptocurrency. Using this concept, the Pi Network enables users to conduct peer-to-peer transactions quickly and securely, without involving third parties such as banks or traditional financial institutions. This excess could change the way we use cash and threaten the very existence of ATM machines.

Direct Access via Digital Wallet:

One of the main factors that put ATM machines under threat is the fact that Pi Network users can access their pi coins directly through the Pi browser digital wallet. Users no longer need to visit a physical machine to withdraw cash, as they can make transactions with the digital currency Pi coin instantly. This not only reduces dependence on ATM machines, but also eliminates cash withdrawal fees, time and location restrictions, and the difficulty of finding a compatible ATM machine.

Increased Trust in Digital Currency:

The wider adoption of digital currencies such as the Pi Network has resulted in increased trust among people around the world in digital payment methods. As financial technology advances, users are becoming more familiar with the security and transaction speed offered by cryptocurrencies. At the same time, the growing trust in digital currencies reduces the need for cash transactions and therefore threatens the future of ATM machines.

Wide Acceptance by Business:

The widespread acceptance of digital currency by businesses has also played a key role in replacing cash transactions with digital transactions. As more shops and businesses started accepting payments with Pi Coin, it became increasingly felt that cash transactions were becoming obsolete. Success in creating an ecosystem where users can easily use digital currency to shop threatens the very existence of ATM machines.

This was also conveyed by one of the pi network community accounts, monitoring from posts made by the pi network community account on Twitter as follows:

If Pi becomes a widely used currency, recognized by national governments in P2P payments, the following industries and goods will be obsolete:

1. Manufacture of leather wallets
At this rate, anyone who uses a leather wallet anymore, wants to buy anything, swipe ting ting to pay, a high-level secure blockchain wallet, don't worry about learning, create 1 time to use it for life 🤭

2. Money counter.

When e-wallets were in vogue, the money counter became an antique, a history mentioned in the lives of grandchildren and great-grandchildren.

3. ATM

People will mention atm as a remembrance after every time standing in the middle of the hot sun, sweating diss, or soaking wet in heavy rain waiting for the withdrawal 🤣

4. Safe.

Safes at this time also became very few people used to preserve papers or assets. Papers are identified, maybe in the future just holding a chip for all personal information instead of bulky, easily damaged papers.
Is there a safe that people use to store gold or some artifacts that need to be preserved.

5. Financial lending service (black credit)

Currently, CP has tightened this issue. The future of blockchain is transparent, there will be no problem of high interest loans, or forms of money laundering will be greatly restricted, or will have to switch to a new, more sophisticated form to bypass the authorities.

There are many other professions and goods that will become obsolete, you can contribute under the comments for everyone to refer to!

#PiNetwork #cryptoleak #cryptoleakvn does not publish articles without sources, for more details see the image below:

Twitter image source 

Challenges and Considerations:

Although the possibility of decreasing the use of ATM machines seems significant, there are still several factors that must be considered in evaluating their future.  Firstly, the widespread adoption of cryptocurrencies like the Pi Network is still in its infancy.

However, even though the possibility of reducing the use of ATM machines looks significant, there are still several factors that must be considered. Firstly, the widespread adoption of the Pi Network and other cryptocurrencies is still in its infancy.  Widespread acceptance and use by society will still take time. In addition, the infrastructure must also be adapted to support transactions with digital currencies, including the development of a wider network and digital wallet Pi browser.

Don't give up, keep the spirit of glory not built in one night. Greetings from us, the hokanews team, to all pioneers around the world.

What is Pi Network?

Pi Network is a new cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining device battery. The Pi blockchain secures economic transactions through a mobile meritocracy system and a complete Web3 experience where community developers can build decentralized applications (dApps) for millions of users.

That's a little information that we can share with all the pi network communities.  
Hopefully this is useful, keep the spirit, don't give up.
If the information from hokanews is useful, don't forget to share it with other pioneers.

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Thanks to all the pioneers, warm greetings from the hokanews team.  Information from the pi network community for all pioneers