The end game for gateways

[OctagonFS]

This might have already been dealt with but I'm gonna ask anyway.

 

If the big banks and institutions adopt the blockchain fully and implement RCL, what does that mean for the small to mid level guys that have invested in setting up gateways and exchanges?

[MrBudgens]

It means they have won, providing they identified the right niche in the market.  Ripple's success depends on this happening.

The card-reader you use at the checkout is a "gateway" to the visa/mastercard system. Your bank is a "gateway" to your national currency (try buying a house with cash if you doubt this). Western Union is a "gateway" for international transfers. You, the customer, don't need to know any of the implementation details or the identity of any of the intermediary companies. All you need to do is trust the system to work. If Ripple can undercut the incumbent players anywhere in any of those markets then they have succeeded.

https://ripple.com/build/gateway-guide/

[Coinseeker]

Just as there are major banks and FI's, there are also small community banks, credit unions, currency exchanges, etc.  Each serves the need of their customers, whether local or global, big or small.   In my view, blockchains and the like provide more opportunities to level the playing field for the "little guys".

[OctagonFS]

Just as there are major banks and FI's, there are also small community banks, credit unions, currency exchanges, etc.  Each serves the need of their customers, whether local or global, big or small.   In my view, blockchains and the like provide more opportunities to level the playing field for the "little guys".

Actually that's a fascinating point of view. I also feel that there will always be a place for the little guys especially since the banks are too greedy to lower fees. The make up of the banks as they exist today will have to drastically change of they are to survive because the "little guys" will always find new innovative ways to serve customers and move faster than a large institution can react. And the blockchain allows those possibilities to flourish.