"Banks could loose a $1 billion to fintech" that is the best possible case for the banks. I would say it will be 10 to 100x bigger than this! I don't really trust the big tech companies, but if I had to choose between a big bank that's broke or google with billions in the bank, I think I would store my money with Google.
You are viewing a single comment's thread from:
FinTech will take over. Confince in banks is diminishin. GS, JPM and other still give their clients buy signals, when they actually sell on their buying
GS is one of the leading companies implementing FinTech.
They will be strong for a while...at least until alternatives like BTS or other crypto based entities eat their lunch.
Ex GS employees run most central banks. I think with those resources and insiders they will be around for a long long time.
That doesn't mean that they dont give recommendations to sell, when they buy behind your back. GS is positioned very well, they have the connections and info.
Just a different master there.
Google isnt much better than the banksters. Nor is face book. While they put a happy, caring face on in public, they are just as greedy and ruthless as the banksters.
Decentralization will take them down just like the banksters.
I think you are completely correct. Although given the choice I think the tech companies will last longer and innovate better than any bank. They will all to be surpassed by crypto hopefully
To an extent, they are just as bad as the banks (censorship of any information that they deem unfavorable). Even in the political realm, we've seen Facebook and Twitter censor numerous politicians because of their political views.