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RE: World Bit Bank: A Bank for the Global Crypto Communtiy
How will you acquire the capital required to purchase the major banks? We're talking trillions of dollars here. Even to buy a major Australian bank you'll be well into the billions.
This is an amazing goal, and I fully support you, but wow, you're going to need a tonne of funding.
No one said the acquisitions are of major banks.
There are many well-established boutique banks even in NYC, one of the most competitive financial ground in the world. The team intends to acquire banks to get hold of established entities as that will streamline and accelerate the process of building a financial network for crypto.
But yes, the funding goals are quite high. However, the first cap is aimed at $25M, a sum that is mundane in today's ICO field.