In Brazil traditional banks are totally being disrupted. See Nubank.
No one is disrupting banks – at least not the big ones
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Re: No one is disrupting banks – at least not the big ones
#12First thing you have to do is understand how banks actually work at root[0]
[0]: https://new-wayland.com/blog/framework-of-a-basic-bank/
Re: No one is disrupting banks – at least not the big ones
#13Earlier quoted context omitted.
Yes and crypto doesn’t have any inherent risk like a sitting President creating a crypto currency where he has 80% of the currency, will probably make a half billion dollars and then do a rug pull. https://fortune.com/2025/01/22/donald-trump-net-worth-memeco...
That’s the thing I can’t ever come to understand about crypto. It’s purely about perception of value. At least with some precious metal, it has a floor value as a function of its practical uses and abundance. Which leads me to believe that the only thing that could be honestly said is that a crypto is purely about winners and suckers and timing.
The legal landscape forced the industry to be purely financial. Hopefully this changes soon.
Re: No one is disrupting banks – at least not the big ones
#14I don’t think disrupting banks is even possible. The time, money, and energy required is simply not realistic. There’s so many disrupt-able industries out there and I’m not even sure banking is the most beneficial one to tackle. It’s a realistic Star Wars story where the Empire always wins because… well it’s the fucking empire. They didn’t get there by losing.
Right. Banks are boring. The whole industry is based on very simple math. Nothing much to disrupt.
Re: No one is disrupting banks – at least not the big ones
#15It's crazy to me that we're still using the same approach to banking, given that the banking system regularly blows up and drags the rest of the economy into a recession.
Re: No one is disrupting banks – at least not the big ones
#16Aren't the big banks buying the fintech companies that have more probability to create disruption?
Re: No one is disrupting banks – at least not the big ones
#17Earlier quoted context omitted.
Yes and crypto doesn’t have any inherent risk like a sitting President creating a crypto currency where he has 80% of the currency, will probably make a half billion dollars and then do a rug pull. https://fortune.com/2025/01/22/donald-trump-net-worth-memeco...
That’s the thing I can’t ever come to understand about crypto. It’s purely about perception of value. At least with some precious metal, it has a floor value as a function of its practical uses and abundance. Which leads me to believe that the only thing that could be honestly said is that a crypto is purely about winners and suckers and timing.
There are pros and cons of cryptocurrencies as money, just like gold, which cause people to speculate on the price.
Re: No one is disrupting banks – at least not the big ones
#18I don’t think disrupting banks is even possible. The time, money, and energy required is simply not realistic. There’s so many disrupt-able industries out there and I’m not even sure banking is the most beneficial one to tackle. It’s a realistic Star Wars story where the Empire always wins because… well it’s the fucking empire. They didn’t get there by losing.
They've "lost" a few times by now. Government has propped them up.
The other side of the innovator's dilemma is the fact that the market leaders who don't stick to their current winning formula, instead risking big on a new technology, will sooner or later get it wrong and fail on their own. That's why it's a dilemma.
Re: No one is disrupting banks – at least not the big ones
#19Hm so when a fintech "disrupts" banks it ends up walking and quacking ... like a bank? Is it even a fintech any more?
Re: No one is disrupting banks – at least not the big ones
#20The large banks have achieved scale in terms of accepting deposits and lending at lowish margins. To accept deposits they need regulatory approval and oversight.
For higher margins lending products they are absolutely being “disrupted” by private credit.