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Originally Posted by Resolute 14
Many people struggle to understand ATM cards, Pepsi. Good luck with widespread adoption of Bitcoin or the like.
As to the story, it is doubtful that Wells Fargo and TD are the only two to have done this. The other banks are likely facing a great deal of scrutiny as a result.
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I figure it should should be prevalent in... 40 years... optimistically.
Quote:
Originally Posted by OMG!WTF!
The majority of what banks do is already digital. Your mortgage and loan money doesn't really exist. If banks become obsolete we all have much bigger problems than crooked TD tellers.
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Not quite digital in that sense. De-centralized currency is actually less problematic. The problem with it right now is habit people have of "centralizing" it into certain spaces, which makes it possible for hackers to devalue the currency (but not to actually steal it).
It's a long way off from being something even 50% of the population uses, but it's the future, for sure. It's main benefit is the fact that fees for banking no-longer exist and, when done right (keep in mind, it's still in an infancy stage) it's about 1000x safer than having any of your money (mortgage, loan, paychecks, etc) be handled by a middle man.
It would also have a game-changing impact on the way taxes are collected and government spending occurs, allowing for complete and total transparency.
Anyways, it's the future, TD sucks, blah blah.