For many major banks, cryptocurrencies used to represent a financial experiment in its infancy. Now, they've become too lucrative to ignore. With trust in traditional institutions low, some banks are hoping that digital innovations will rebuild confidence and increase efficiency.

Do people still want financial advice from bank branches? What’s the appeal of peer-to-peer payment apps? How is fintech helping the cash-strapped borrow for bigger purchases? And what does the average consumer now know about blockchain tech and cryptocurrencies?

For all the hype around cryptocurrencies, they’re more practical as investments than as modes of payment. TenX has created a platform to enable people to spend cryptocurrencies with debit cards, in the aim of making it more user-friendly as a form of legal tender.

Blockchain, the digital scaffolding behind cryptocurrency bitcoin, has hit critical mass and is being taken seriously by major conglomerates and governments alike. Canvas8 spoke to technology strategist Paul Armstrong to understand how it might make an impact beyond the financial world.