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This might be a naive question, but has there ever been a successful non-profit bank-like financial institution? As I was reading this article I thought of iPr
by josscrowcroft 10y ago
This might be a naive question, but has there ever been a successful non-profit bank-like financial institution?
As I was reading this article I thought of iPredator.se, which provides a non-tracked VPN service. Their USP is "We don't track anything you do". I wonder whether there could ever be a cashless option that offers a similar service. This of course would only address the concerns of privacy and profit-driven interests, and not the other serious concerns raised in the article.
Has there been/could there ever be a bank like that?
- cmrdporcupine 10y ago> This might be a naive question, but has there ever been a successful non-profit bank-like financial institution? Credit unions are not-for-profit institutions, member-owned, and are very successful. But they don't satisfy the second part of your post. Tracking and auditing transactions is kind of built into the idea of modern banking.
- halotrope 10y agoIn Germany we have GLS bank which is for profit but has a strong ethics code about their investments and try to maintain high standards of transparency. https://www.gls.de/privatkunden/english-portrait/ https://www.gls.de/privatkunden/english-portrait/