Banks’ Days May Be Numbered Thanks To Digital Wallets | Crypto Craft

  • Banks’ Days May Be Numbered Thanks To Digital Wallets

    From forbes.com

    By 2024 there may be more than 220 million digital wallets, representing an $800 billion opportunity. But it won’t be the traditional banks that benefit from this red-hot growth, it’s the fintechs that are poised to win. That’s according to Cathrine Wood, founder, and CEO of ARK Investment Management, the global asset management firm that invests only in companies bringing disruptive innovation to the market. Its fintech innovation actively managed equity strategy invests in companies focused on digital wallets, mobile payments, lending, AI, eCommerce, and risk transformation. During the Rosenblatt Fintech ... (full story)

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TudorIoan
May 27, 2020 10:05am
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Banks? Banks are also credit institutions. And who will take over for the credit industry ? Crypto oligarchs, the mob's loan sharks ? They will create ..."banks" ...new crypto banks on a free market intrest rates ? Woah, libertarian dream, snappy !
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trumps
May 28, 2020 3:01am
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Quoting TudorIoan
Banks? Banks are also credit institutions. And who will take over for the credit industry ? Crypto oligarchs, the mob's loan sharks ? They will create ..."banks" ...new crypto banks on a free market intrest rates ? Woah, libertarian dream, snappy !
Precisely.
Human nature will simply be given free rein.
All it would need is a little time.

Power to the little people
Until it corrupts...

Big bad banks
Reply
TudorIoan
May 28, 2020 8:00am
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Quoting trumps
{quote} Precisely. Human nature will simply be given free rein. All it would need is a little time. Power to the little people. Until it corrupts... Big bad banks
Banking features distributed among innovative fintechs are alright. Well yeah, that's bad for traditional banks. But the world is moving on.
Just don't tell me about crypto libertarianism !
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NYRogue
May 27, 2020 7:40am
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Digital wallets= we can monitor your every transaction and perhaps place a hold on your accounts when your social credit score drops below an acceptable level.
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diamonddbw
May 27, 2020 9:27am
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Cathrine Wood is, perhaps, the most savvy economist today. Listening to her analysis is Definitely nothing like listening to (wildman) Jim Cramer. You might just find some useful info.
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Donettie
May 27, 2020 5:33pm
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Until then, let's piling the dough.
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NewtonsCash
May 27, 2020 8:21am
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Buy Bitcoin
Reply
clockwork71
May 27, 2020 7:49am
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Quoting NYRogue
Digital wallets= we can monitor your every transaction and perhaps place a hold on your accounts when your social credit score drops below an acceptable level.
Yep.
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