{"id":175,"date":"2014-07-14T10:10:00","date_gmt":"2014-07-14T10:10:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/a-cashless-sosciety-in-three-years-atms\/"},"modified":"2022-12-12T21:33:09","modified_gmt":"2022-12-12T19:33:09","slug":"a-cashless-sosciety-in-three-years-atms","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/07\/a-cashless-sosciety-in-three-years-atms.html","title":{"rendered":"A cashless society, in three years ATMs in all majot cities will accepting cryptocurrencies"},"content":{"rendered":"<p><i>The consumer financial services company based in North Palm Beach, Florida, <a href=\"http:\/\/www.bankrate.com\/finance\/banking\/new-breed-of-atms-get-high-tech-makeover.aspx\">Bankrate<\/a>, predicts that within three years, ATMs in all major cities will accepting digital currencies such as bitcoin. <\/i><\/p>\n<p>The report, which assesses the future functionalities likely to be provided by the ATMs of tomorrow, focuses on how mobile payment solutions will play a significant role in terms of the next generation of banking.<\/p>\n<p>With ATMs becoming increasingly flexible when its comes to meeting the needs of customers, Senior Vice President Tom Ormseth of the Chicago-based bank holding company Wintrust Financial says that \u201cbanks now need to think like Google, they\u2019ve got to quit being slow adopters.\u201d<\/p>\n<div>\n<b> INNOVATION ON THE RISE<\/b><br \/>\nThe ATMs of today now let you talk to a teller on video, make cash withdrawals via your smartphone, and in many cases let you withdrawal as littles a $1. In essence, the need for physically located banks are becoming less necessary with time, which is why many are saying that the ATMs of tomorrow could replace banks all together. A threat that the advent of <a href=\"https:\/\/holytransaction.com\/page\/what-is-bitcoin\">bitcoin<\/a> has only made greater.According to Jay Weber, vice president of debit and ATM product solutions at the Jacksonville, Fla ATMs have long been viewed as nothing more than a tool for withdrawing cash on the fly; however, he says that now, the technology is being driven by a younger, more tech-savvy demographic.<\/p>\n<p>The emergence of cardless ATMs, for instance, which are starting to pop-up in major cities throughout the world thanks to the Chicago-based Wintrust Financial group, allow customers to withdrawal cash through your phone without the need for a physical debit card.<\/p>\n<p>Working much like the emerging bitcoin ATMs, you simply request a withdrawal, then within eight seconds, your money is there waiting for you at your local ATM.<br \/>\nTHE DIGITAL DIVIDE<\/p>\n<p>According to Frank Natoli, chief innovation officer at Diebold, the banking industry, once seen as a conservative sector is quickly moving ahead. He further predicts, that thanks to the emergence of mobile banking alternatives, using your smartphone to transact will become even more seamless.<\/p>\n<p>Acording to Natoli:<br \/>\n\u201cWithin three years, ATMs in major cities also will accept alternative currencies like bitcoin [&#8230;] a digital currency that exists only in cyberspace, [that] already is starting to get its own ATMs worldwide. And mobile transactions are more appealing to bitcoin users.\u201d<\/p>\n<\/div>\n<div>\nNatoli tells Bankrate that these ATMs are going to play a major role in the next generation of banking, and according to him, will aid in the progression towards \u201cbranchless banks.\u201dWhile Natoli points out that today\u2019s ATMs can only do 70% percent of what a teller can do, he predicts that this is a void destined to be filled by the new waves of ATMs.<\/p>\n<\/div>\n<div>\nThe incentives are all there, as on the banks behalf, the expense of running a physical network of branches can be virtually eliminated with the adoption of this new technology. According to the report:\u201cAs consumers increasingly bank on mobile devices and online, more branches will be shuttered, leaving ATMs to do more daily heavy lifting.\u201d<\/p>\n<p>As the senior analyst at Aite Group, David Albertazzi explains, \u201cit\u2019s about rethinking and redefining the branch network.\u201d<\/p>\n<\/div>\n<div><\/div>\n<div><b> A CASHLESS SOCIETY<\/b><br \/>\nAs Wintrust\u2019s Ormseth explains:<br \/>\n\u201cThese futuristic ATMs are destined to become bank must-haves. Better security measures such as voice recognition or even biometrics, where you can use your fingerprint to prove your identity, will become commonplace at ATMs too.\u201dAs for whats at stake, echoing Ormseth\u2019s <a href=\"http:\/\/Bitcoin Rise: will it continue in the future days?\">predictions<\/a>, Maclyn Clouse, professor of finance at the University of Denver also believes that given the separation between new technology and old, banks, especially smaller local banks, could soon be left behind. \u201cA lot of transactions will be done on the ATM, which big banks can roll out more profitably than smaller banks,\u201d he told Bankrate.<\/p>\n<p>What will the ATMs of tomorrow look like? According to Clouse \u2014 cashless.<\/p>\n<\/div>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The consumer financial services company based in North Palm Beach, Florida, Bankrate, predicts that within three years, ATMs in all major cities will accepting digital currencies such as bitcoin. The report, which assesses the future functionalities likely to be provided by the ATMs of tomorrow, focuses on how mobile payment solutions will play a significant [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,77,82,299],"tags":[765,771,975],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A cashless society, in three years ATMs in all majot cities will accepting cryptocurrencies -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2014\/07\/a-cashless-sosciety-in-three-years-atms.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A cashless society, in three years ATMs in all majot cities will accepting cryptocurrencies\" \/>\n<meta property=\"og:description\" content=\"The consumer financial services company based in North Palm Beach, Florida, Bankrate, predicts that within three years, ATMs in all major cities will accepting digital currencies such as bitcoin. The report, which assesses the future functionalities likely to be provided by the ATMs of tomorrow, focuses on how mobile payment solutions will play a significant [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/holytransaction.com\/blog\/2014\/07\/a-cashless-sosciety-in-three-years-atms.html\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/holytransaction\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/holytransaction\" \/>\n<meta property=\"article:published_time\" content=\"2014-07-14T10:10:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-12T19:33:09+00:00\" \/>\n<meta name=\"author\" content=\"Satoshi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/holytransaction\" \/>\n<meta name=\"twitter:site\" content=\"@holytransaction\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Satoshi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/holytransaction.com\/blog\/2014\/07\/a-cashless-sosciety-in-three-years-atms.html\",\"url\":\"https:\/\/holytransaction.com\/blog\/2014\/07\/a-cashless-sosciety-in-three-years-atms.html\",\"name\":\"A cashless society, in three years ATMs in all majot cities will accepting cryptocurrencies -\",\"isPartOf\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/#website\"},\"datePublished\":\"2014-07-14T10:10:00+00:00\",\"dateModified\":\"2022-12-12T19:33:09+00:00\",\"author\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/#\/schema\/person\/1643e2c0c2df67ae0d6eacff8a185e69\"},\"breadcrumb\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/2014\/07\/a-cashless-sosciety-in-three-years-atms.html#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/holytransaction.com\/blog\/2014\/07\/a-cashless-sosciety-in-three-years-atms.html\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/holytransaction.com\/blog\/2014\/07\/a-cashless-sosciety-in-three-years-atms.html#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/holytransaction.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"bitcoin adoption\",\"item\":\"https:\/\/holytransaction.com\/blog\/tag\/bitcoin-adoption\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"A cashless society, in three years ATMs in all majot cities will accepting cryptocurrencies\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/holytransaction.com\/blog\/#website\",\"url\":\"https:\/\/holytransaction.com\/blog\/\",\"name\":\"\",\"description\":\"HolyTransaction&#039;s Blog - Your crypto blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/holytransaction.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/holytransaction.com\/blog\/#\/schema\/person\/1643e2c0c2df67ae0d6eacff8a185e69\",\"name\":\"Satoshi\",\"sameAs\":[\"https:\/\/holytransaction.com\",\"https:\/\/facebook.com\/holytransaction\",\"https:\/\/twitter.com\/https:\/\/twitter.com\/holytransaction\"],\"url\":\"https:\/\/holytransaction.com\/blog\/author\/admin\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"A cashless society, in three years ATMs in all majot cities will accepting cryptocurrencies -","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/holytransaction.com\/blog\/2014\/07\/a-cashless-sosciety-in-three-years-atms.html","og_locale":"en_US","og_type":"article","og_title":"A cashless society, in three years ATMs in all majot cities will accepting cryptocurrencies","og_description":"The consumer financial services company based in North Palm Beach, Florida, Bankrate, predicts that within three years, ATMs in all major cities will accepting digital currencies such as bitcoin. 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