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Most of the money is already digital, some countries are almost done with paper money, crypto-currencies bring nothing new here. Unless you want to get rid of
by hocuspocus 5y ago
Most of the money is already digital, some countries are almost done with paper money, crypto-currencies bring nothing new here.
Unless you want to get rid of debt and credit creation, we'll need intermediaries. You can already do P2P lending and funding if that's your thing... you'll realize it's risky and a lot more expensive than using banks.
- necessities 5y agoThanks for your response. I certainly disagree with your conclusion. The main reason for the invention of bitcoin specifically was to avoid the risk of using banks and intermediaries.
- arbol 5y agoIn the future I would expect Intermediaries will be smart contracts that lend your crypto on your behalf. Distributed reputational systems take care of the trust aspect. This could cost less than existing traditional lending systems.