Could digital currencies put banks out of business?

Cryptocurrencies like Bitcoin have been billed as a major disruptor to finance. But digital currencies issued by governments might be even more radical—they may even threaten the future of traditional banking.

[FrSeer]

After the 2008 housing crisis, let me tell you; we won’t be missing banks that much

[Mvp]

No mention of decentralized finance and how banks could possibly be replaced by smart contract decentralized applications?

[RWAfuture]

Today it's not about return ON capital. Today it is about return OF capital.

[paulobaptista]

A new form of banks will emerge with new technology and services. Regulation will determine how it happens. The banks might change but aren’t going anywhere. Control over currency will always exist.

[SromolKhmer]

I won't miss the bank when they're gone. No need to bail them out anymore.

[mikeradford]

Lowest cost and fastest settlement will win. Banks taking 3 days to transfer money via ACH will bleed out.

[waynejackson]

On a much larger scale, this is like the introduction of Napster and the like to the music industry. The paradigm completely changed, and the music industry was forced to keep up with consumers demands.

[joebartley]

My concern with CBDC is the government deciding you have done something wrong in their eyes and freezing all your assets.

[nuterra]

Crypto, defi, peer to peer lending fix all those problems. We won't need banks.

[_Reverse_Flash]

@8:20 The last thing I would want is a direct relationship with a Central Bank.

[ibzyc]

They have not benefitted savers for an entire generation

[klompb]

Wow, I'm impressed how you were able to spin fractional reserve banking to sound like something positive!

[pivoune]

I think you completely missed the potential of decentralized digital currencies by focusing your piece on government issued and thus centrally controlled digital currencies

[ajmala]

The question being between the recessions every 20 years or so, how stable is your current financial system??

[kamolhengkiatisak]

I used to take one course "Money and Banking" for a semester in 1970s, which is essentially covered by this 10 minutes video and more (digital money).

[jaredr]

No, but the banks will finally learn their place when it comes to people's money. POWER TO THE PEOPLE! DO NOT BE AFRAID OF CHANGE.

[jaytok]

banks have been ripping off their customers for centuries. time for a change

[lukeskywalker]

We need to keep cash if we want to keep our freedoms. Period.

[jotsingh]

Perfect concept for a total surveillance states.

[sfturbo]

The only thing I will miss about banks is the higher salary they pay compared to other companies