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[Citation Needed] Banking and financial services is about 1/4 of world GDP and insurance is about 1/12th of world GDP. Anything making 25x "than all other indu
by bunabhucan 3y ago
[Citation Needed]
Banking and financial services is about 1/4 of world GDP and insurance is about 1/12th of world GDP. Anything making 25x "than all other industries around the world combined" would be ~96% of the economy.
- FabHK 3y agoYes, GP might have misremembered 25%. To be clear: that is still way too high in my view. (That credit cards in less regulated economies like the US charge more than 2% is obscene.) However, the badly needed disruption will come (hopefully) from good old (centralised) FinTech (such as Wise), not from the crypto bros.