Definition ∞ Banking Systems encompass the established financial infrastructure and operational frameworks through which traditional monetary transactions occur. These systems include commercial banks, central banks, payment networks, and regulatory bodies that govern the movement and storage of fiat currency. They operate under strict regulatory compliance and provide services such as deposits, loans, and payment processing. Their structure is largely centralized and permissioned.
Context ∞ The current state of Banking Systems is marked by ongoing digital transformation and increasing interaction with novel financial technologies, including digital assets. Key discussions often address the perceived inefficiencies of traditional systems compared to blockchain-based alternatives, alongside their established stability and regulatory oversight. A critical future development involves the integration of distributed ledger technology into conventional banking operations, potentially reshaping global financial flows.
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