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The future of banks?


newbee
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Hi there,

I don't want to create FUD but what if banks don't excists anymore in 20...

With the upcoming wallets/apps where you can hold assets and pay directly with coins for goods the use off banks will be less imported IMO.

Decentralisation is the keyword.

Hopefully Ripple is not betting on one (bank) horse!

Your thoughts please?

 

 

 

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and what will happen with all the money they have? labos? ceo have planes.. :)) they have been around since the invention of money and they will be here even if the traditional way of banking will change (evolve). the only thing  you have to think of is what will be announced at swell, other than that you have nothing to worry about.. 

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3 hours ago, bec_86 said:

and what will happen with all the money they have? 

Banks do NOT have money. On the contrary, banks have way more debt than any other org on earth.
Because banks owing us more money on our accounts, than they actually have in their vaults.....
So truth is that all banks live on debt. That aside.

But I do believe as well that banks will not go away. From the average Joe to the wealthy CEO, we all need some place to trust our accounts in a safe environment. A cold bitcoin or blockchain wallet might be a solution for some freaky geeks, but not for the majority of us. There will always be some org or bank or whatever we call it to manage funds on behalf of their "clients". Can be old or new "banks".... don't know, but I do know that they will have to think different over accessibility, fluidity, interoperability, ... Times of no immediate access, slow moving and being locked on a ledger of all our values and funds.... those times will be gone soon ...and they will be gone forever. 

Edited by kanaas
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