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Your bank isn't doing anything very advanced. It's just keeping the equivalent of an excel spreadsheet in a database with some front end software to manage it.
by Sargos 5y ago
Your bank isn't doing anything very advanced. It's just keeping the equivalent of an excel spreadsheet in a database with some front end software to manage it. You can't write apps on your banking platform.
> How much are they going to charge? Are they going to let anyone write apps on top of it?
Banks don't currently do this and never will as the overhead is way too much work and far too expensive. The closest example we have is AWS which is extremely complex and can't actually be used for anything dealing with money.
It's easy to naively think about a big organization building a platform like Ethereum but once you start designing it out you realize the problem is far larger than it first appears and it would take years and an army of lawyers to make any headway.
- leifg 5y agoWhat exactly is your point? That banks aren’t advanced enough? Last time I checked there are already tons of apps for banking use cases. I use a third party budgeting app across multiple accounts. For my European bank account I use a third party tool to wire money. During my time as a freelancer I used tools that fetched my transactions, automatically categorized it and gave my accountant access to it to prepare my taxes. What use case do you want to build that can’t be build on top of an API?