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RE: DeFi: The Banks Are Cooked

in LeoFinance5 years ago

@oldtimer, glad to see someone else pointing this it... it was a large part of what I was driving towards in my post yesterday: Banks and Wall Street can't stamp out what "we" are trying to do, so their next logical step will be to usurp what's being done with cryptos and finance... and the vast majority of the population lack the inclination, education and know-how to anything other than get involved in (centralized) Facebook Libra and (centralized) "BankofAmerica Coin" (when they get around to that) and we'll end up with something that looks a little bit different but basically doesn't change much.

Maybe in 50 years things will gradually change... which not to condemn or sideswipe what people are trying to do, but these efforts are still just fleas on the camel's back.

=^..^=

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The difference is on the back end. Much of what those institutions do is going to be replaced with a smart contract. There are already entities working in that direction.

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