7 ms·
Never Dethroned, imho (I've been working in-and-out of Banking/Finance for 20 years) they ain't going nowhere for the next 2-3 generations. And even if the fin
by HenryBemis 2y ago
Never Dethroned, imho (I've been working in-and-out of Banking/Finance for 20 years) they ain't going nowhere for the next 2-3 generations.
And even if the financial landscape changes dramatically, i.e. we stop using Fiat and Crypto and we switch to (physical) Gold and Potatoes, they have the skills/infrastructure/funds to quickly adapt and remain relevant/dominant.
How hard it is to rival it? Well, what's your horizon? Some with billions of $$$ to spare can get it done in 10 years if you ask me. It's not just about hiring like crazy in every country in the world, lobbying with every legislator/central bank on the planet, comply to every regulation/ISO/PCI-DSS/etc. under the sun..
Doable? Definitely. Chances of seeing it happen? Big fat Nope.
- mdp2021 2y agoOn the other hand, what is needed is a good alternative - not necessarily dethroning them, but having some actor provide services they have abandoned to the niche that demands them.