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> When each bank keeps their own version(s) of the truth, the cost of reconciling, resolving disputes etc is huge I'm not a banker, but I'm not sure I entirely
by speedplane 9y ago
> When each bank keeps their own version(s) of the truth, the cost of reconciling, resolving disputes etc is huge
I'm not a banker, but I'm not sure I entirely believe this. There is undoubtedly a cost of reconciliation, but is it "huge"? Seems low on the totem poll.
- lucozade 9y ago10s of millions per year per bank. More for the really big banks. Thay have large totem poles. Edit. That’s not including the op risk of screwing up. That has costs too and can easily reach millions
- speedplane 9y agoA handful of millions for the largest banks, yet most crypto currency companies are valued far out of proportion of that.