Can the Internet Replace Big Banks?

Posted by BizRock under News
From http://mashable.com 4260 days ago
Made Hot by: lyceum on April 5, 2013 3:34 am

We've seen digital technology disintermediate everything from record companies to university curriculum. Yet banking has remained rather immune to all this disruption.

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Comments

Written by lyceum
4253 days ago

Yes, the traditional bank as the main action on the financial market could be replaced, but the function of lending will still exists. The bigger question to answer is what will happen with the fiat (paper) money. In the article on Mashable, Bitcoin was mentioned. The crucial thing for a recovery of the overall economy, is that we understand the meaning of true money, i.e., a system based on an objective standard like gold and silver.

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