2.3% On-Chain Dollars: Global Financial System Now Mostly Digital

It appears the traditional banking behemoth, long thought immutable, is finally crumbling under the weight of innovation, or at least, a significant fraction of it. A recent industry report, produced by the entirely impartial and disinterested experts at a16z crypto, reveals that a staggering 2.3% of the world’s *entire* financial activity now transpires on-chain. This microscopic sliver, apparently, signals the irreversible digital transformation of the global financial system.

One can only imagine the panic in the gilded halls of Wall Street as they grapple with the shocking revelation that stablecoins facilitated a mere $46 trillion in transfers over the past year. Such a paltry sum, dwarfed by the planet's vast economic output, evidently qualifies as a seismic shift. Indeed, with digital ledgers handling so much, we might soon find ourselves wondering what exactly those quaint, brick-and-mortar banks are even *for*. It's almost as if 97.7% of global payments are just... waiting for permission to join the revolution.