Quote:
Originally Posted by McG
You are actually on your way with some of the features above to what is being called blockchain. I don't want to talk about that as it will derail the thread but some of your ideas are already taking shape...but guess who is front and centre on it? banks.
On your earlier post that no one will miss the banks, well I'm thinking that eventually you want to retire? RBC is the number one held stock in pension and mutual funds, and i'm guessing that the others aren't far behind. so there's that. Also, compared to some other industries and countries, the Canadian banking system is strong and safe.
The original topic though sounds like a bad TD sales campaign gone wrong; spiffs and multipliers will do that.
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Yeah I was referring to blockchain.
It will require the financial industry to embrace it (which a big portion is starting to already for the sake of file management) but it will eliminate banks as we historically recognize them, specifically the third-party, human element.
It's big stuff. And good stuff,
eventually.