What is Traditional Finance? – Jenco Tech

 

Traditional finance uses a centralized authority that maintains distinct currency values across nations. Banks and other financial institutions enable monetary transactions using uniform values that may change, depending on the present GDP (Gross Domestic Product) of the different nations whose currencies are used in particular exchanges.

For instance, if the current exchange rate is 1 USD is 0.76 GBP, then all monetary exchanges are based on this present value. Currency values change depending on the time frame and location.

 

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