Is Crypto Recreating the Banking System All Over Again?
Matthew Erwin says "Crypto is just remaking the banking system cycle over again just with new players at the top. It's a race to be those new players".
Here's my response!
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The way I see crypto currency as a new way of banking whereby the currency will be controls by the individuals themselves and not the government or banksters @louisthomas
Yes but you can name it "Crypto Banks".
If we look closely to wallets like blockchain,coinbase etc. These are just a type of bank where you can store your crypto assets. But these banks have less fees more security and privacy than traditional ones.
#FirstComment
Hi @louisthomas, I agreed with you. I see the cryptos will be used by a lot of people because their fast and secure transactions. We don't need banks anymore.
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Agreed!!
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In my opinion, crypto re-created the banking system because crypto is easier to use and without cost.
If the goal is to spread wealth more equally, then it is paramount to recognize that any type of maximalism is not the way to go. I believe tokenization is one pathway to a more wealth equality. When a number of people who share the same goals, interests and values form a community an economy of one kind or another arises. Within that economy wealth accumulation will inevitably kick into gear but if the entire space is made up of countless niches of varying sizes with coins and tokens of their own representing whatever is traded within those communities - all fully interoperable - then there is a chance for less need for institutional middlemen for raising capital, for instance. What this could mean in practice is, for example, a gaming community made up of hundreds of thousands of people crowdfunding game development through the use of tokens used in games that are traded and have value on internal and external token markets.
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