This could pan out. There's a ton of people in the developing world that can only use their phones to get access to any reasonable banking. Or things like ROSCA

This could pan out. There's a ton of people in the developing world that can only use their phones to get access to any reasonable banking. Or things like ROSCAs [1]. Don't think that tech (whether its a permissionless PoS blockchain or a Ripple copy) is important for success here. Only whether or not an aggressive marketing campaign to make people use it (especially merchants) will succeed. 1: https://en.m.wikipedia.org/wiki/Rotating_savings_and_credit_association https://en.m.wikipedia.org/wiki/Rotating_savings_and_credit_...