If you look at retail banking, there are 3 or 4 things that retail banks do. One is that they provide a place to store value, they provide some kind of payment utility. Beyond that, they extend credit and provide a place for you to store wealth and generate potential income…
All of the above can now be done on blockchain without an intermediary…. Question is then … of what use are banks ? How long will it take us to start doing away with banks ? #facts
The benefits of blockchain technology—instant settlement, global interoperability, high levels of security, and nearly no-cost transactions—benefit everyone whether you’re a person or a business… #facts
Many of the great innovators of the past were consummate outsiders. Netflix wasn’t invented by Blockbuster. iTunes wasn’t invented by Tower Records. Amazon wasn’t invented by Barnes & Noble—you get the idea…. So expect banks to resist and initiate the transition #fact
Issuing fungible assets like equities, bonds, and currencies on the blockchain and building the necessary infrastructure to scale it and make it commercial don’t require a banker’s CV … am sure @cz_binance wasn’t a banker in his previous life 😀😀😀#facts
Not only can you issue these assets on the blockchain, but you can create systems where I can have an instantaneous atomic transaction where I might have Apple stock in my wallet and I want to buy something from you. But you want dollars. #facts
With this platform I can enter a single atomic transaction (i.e., all or none) and use my Apple stock to send you dollars… … if you decide to keep living in the past by collecting dollars 💵 😀😀😀#facts
The battle to reinvent the financial services industry has begun .. and it involves moving trillions of dollars from millions of traditional bank accounts unto the blockchain … and finally wipe out the banks (trusted middle man) … banks aren’t gonna be friendly.. #facts
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