Banks will always exist, same as retailers, insurance companies, broadcasting companies, etc. banks serve a useful purpose, the problem isn’t the bank, it’s the structure of power they obtain in a fiat system, that ends up horrifically abused.
In other words, when “bank services” can be provided by a local trusted friend or entrepreneur, for just 200-300 customers, with very high quality, customer centered values, and trust minimized multisig/CTV/BitVM design, then literally none of the problems of banks can or will manifest at scale ever again.
In other words, the problem has nothing to do with banks or financial services. They are necessary and desirable. The problem is the control structure they exist within, and all the incentives and consequences of that.
TheGuySwann / Guy Swann
npub1h8…6rpev
2024-02-10 16:26:08
in reply to nevent1q…jqep
Author Public Key
npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpevPublished at
2024-02-10 16:26:08Event JSON
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