A CBDC is death to much of the commercial banking system. By now, most are aware that a digital wallet can replace the banking services for the majority of the population.
If we're being totally real, commercial banks are one of the most struggling business sectors. They all just puppets on strings, so this elimination would only be a death already detected from the beginning.
I figured these guys were really struggling to keep up and stay competitive in business when couple company names got wiped out of the system, some rebranded when sold off, this however also explains the reasons for their outrageous charges. It's not so much of a complicated puzzle any more, the pieces kept coming through.
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That is true. The banking industry changed a great deal over the last decade and a half. There is little doubt FinTech did a number of them. More than half the mortgage market in the US now originates outside the banking sector.
That is a lot of revenue lost.
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