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/biz/ - Business & Finance

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File: 37 KB, 800x490, moon-waxing-crescent-earthshine-1-8-2019-Chuck-Reinhart-Vincennes-IN-e1547258318928.jpg [View same] [iqdb] [saucenao] [google]
16294539 No.16294539 [Reply] [Original]

I've just read an interest Article and thought i would share it. The Article is in Danish so i will just give out some highlights.
>10% of Bank employees work with anti-laundering regulations as their sole job.
>the rules and regulations of the banking sector after the financial crisis means that the bank has a lot of "death cash" which it can't use [the money is intended as a buffer in case things goes south]
>Banks stocks are worth less than the equity of the Banks, meaning if you liquidate a bank it would be worth more than the price of all its stocks
>Negative interest rate on wealthy customers are because the bank can't earn money on customers otherwise.
Can the banking sector be disrupted? is it possible that alternative Banks like a crypto exchange or decentralized payment systems, could overtake the role of traditional banking. There is no sign that the regulation of banks will seize.. on the contrary it will probably get worse and the customers are gonna indirectly pay for that regulation.

>> No.16294543

the Article : https://www.dr.dk/nyheder/penge/bankerne-presset-paa-flere-fronter-hver-tiende-loenning-gaar-til-bekaempelse-af

>> No.16294560
File: 263 KB, 1272x1080, central banks.png [View same] [iqdb] [saucenao] [google]
16294560

>>16294539
It will not replace banks at all, but a lot of the people working in the banking sector will be replaced. Pic related and link related

https://craigwright.net/blog/bitcoin-blockchain-tech/bitcoin-is-not-against-banks/

>> No.16294583

One of the strengths of Uber, was that it wasn't responsible for the working conditions of the drivers or the cars. All the regulations regarding Taxa services was circumvented and as a result it was able to operate far cheaper than traditional taxi companies.
In a decentralized crypto system, no one is responsible, there are no one that needs to adhere to regulation and whom can get fined for not following the regulation.
I do think that if the trend of customers having to pay to have money in the bank continues, then there could be a future scenario where crypto breaks through as a real alternative to traditional Banking.

>> No.16294622

>>16294583
>no one is responsible
This is 100% wrong. It doesn't matter what asset a bank handles. The anti money laundery laws still applies. Danske bank can't just let osama bin laden have an account with them just because it's bitcoin

>> No.16294701

>>16294622
>t doesn't matter what asset a bank handles. The anti money laundery laws still applies.
To the banks, the point i am trying to make is that there could be a scenario where there are no banks. Where people don't have a Bank account, but rather have their savings in some crypto scheme of sorts, like an app, browser, "facebook wallet".
Even borrowing money without the involvement of a bank, could become a thing.

In such a case, no one would be responsible, you could transfer money to (the now deceased) Osama Bin Laden, and the crypto system that would make this transfer happen wouldn't have any involvement. The responsibility would only befall on you, unlike today where Banks are responsible for the action of their customers and have to spend a lot of resources on "policing" these clients which in turn makes the service more expensive, as the clients have to indirectly pay for being policed.

>> No.16295532
File: 61 KB, 633x611, CSW_banking.png [View same] [iqdb] [saucenao] [google]
16295532

>>16294560
This.