Quote:
Originally Posted by PepsiFree
I figure it should should be prevalent in... 40 years... optimistically.
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.
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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.