A Common Misconception in the Crypto World

Yes!  We will need banks!

Yes!  You and I are our own bank as well!

Yes!  During the transitionary phase we of course will need banks.  Those banks that will eventually go, would be Central Banks and Bank of International Settlements as we will not need those, but it is a long way into the future.  States will probably need similar type banks to do State Business but they will be doing a different kind of business.  Just think about it for a moment, no debt management, no currency manipulation, no setting of interest rates.

What kind of banks do we need?  This is one, a small community bank.  With just $1.9 billion in total assets, it’s less than one-1,000th the size of JPMorgan.:  “To most banks in the U.S., cryptocurrency businesses are pariahs. To Metropolitan Commercial Bank, they’re “pioneers.”

From the Russian crypto world we have this news:  “Two Major Russian Banks to Offer Crypto-Based Fund for Retail Investors”

As part of the Russian central bank’s ‘regulatory sandbox,’ Sberbank and Alfa-Bank opted to begin experimenting with products based on so-called “digital financial assets”

And this is an example of what we probably should not be interested in but at this stage of the game, the Crypto World loves Lamborginis:  This $575 Million ICO With Royal Backing Is So Crazy, It Might Be Real

This Kingly ICO with its predictive name of TaTaTu, has raised the third largest round ever using the initial coin offering (ICO) model – surpassed only by EOS and Telegram.   Of course the expectation from the writer at least, is that they will go TaTaTu into some black moneybox somewhere despite the movies that they want to distribute.

 

 

 

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