Post
Topic
Board Economics
Re: Is it possible to live without banks?
by
Twentyonepaylots
on 02/11/2020, 21:13:15 UTC
It seems to me that these are vain hopes that banks will one day disappear. Even if they do not exist physically and they do not have offices and real estate in which they are now, they will continue to exist virtually. In the form of portals or in the form of interactive decentralized services. I think it will be that way.
Banks live and thrive over their customer's trust and money. Their biggest ways of earning profits is through investments and ironically, through loans made by the customer. That being said, as the economy continuously decline due to the pandemic, it is expected that people will look for alternative ways of investing rather than sticking with banks. This is where bitcoin comes in. It's going to be a long process, but this is the first of the many steps bitcoin will take towards winning over corporations.