Dec 1, 2022·edited Dec 1, 2022Liked by Jeffrey Carter
Man, I must be unbelievably lucky with the financial institutions I've chosen. Bill paying in the two primary banks is no problem and no cost (OK, OK, the cost is recovered in other ways); wiring (from foreign banks), no problem. They recognize my computer and I them and logging in from that computer is easy.
One thing I would mention about crypto-anything - having done work in the field - is that low-tech means of breaking crypto makes up at least the plurality of cases. Trivial passwords, passwords written somewhere easy to get, forgotten or stolen devices, hacked devices (for the dumbest of reasons), and/or just plain in-your-face threats to life and limb; these are just some of the things that crypto won't solve: "the problem is people".
I agree that the payments and money-movement opportunity is there for crypto to step in, however I see a huge opportunity for "the blockchain" that could be monetized quickly and that is in Title Insurance and real estate title integrity. Why is it that in 2022 we are still paying thousands of dollars for "title insurance" when we buy real estate, and then still having exposure to scammers exploiting archaic state and municipal property records which can be altered to change ownership? If blockchain can't solve for this simple and widely applicable systemic weakness, how can it be made usable for anything more complex?
Conventional brick and mortar banks will be out of business in less than a decade and bankers have never been known, much like politicians, for having vision or the ability to understand exponential effects, as they tend to see things from a linear perspective and lack the ability to see two or three or four moves ahead and adapt accordingly to taking into account the changes rather than trying to think of those two or three moves ahead being a different landscape than the current one.
We have over 100 different DDA accounts on the 30+ balance sheets we manage. Everything about treasury management of confined to the small business category, is uncommonly painful.
Well when Liz Warren makes some of the rules this is the result as for crypto give me paper ballots and paper money
Man, I must be unbelievably lucky with the financial institutions I've chosen. Bill paying in the two primary banks is no problem and no cost (OK, OK, the cost is recovered in other ways); wiring (from foreign banks), no problem. They recognize my computer and I them and logging in from that computer is easy.
One thing I would mention about crypto-anything - having done work in the field - is that low-tech means of breaking crypto makes up at least the plurality of cases. Trivial passwords, passwords written somewhere easy to get, forgotten or stolen devices, hacked devices (for the dumbest of reasons), and/or just plain in-your-face threats to life and limb; these are just some of the things that crypto won't solve: "the problem is people".
I agree that the payments and money-movement opportunity is there for crypto to step in, however I see a huge opportunity for "the blockchain" that could be monetized quickly and that is in Title Insurance and real estate title integrity. Why is it that in 2022 we are still paying thousands of dollars for "title insurance" when we buy real estate, and then still having exposure to scammers exploiting archaic state and municipal property records which can be altered to change ownership? If blockchain can't solve for this simple and widely applicable systemic weakness, how can it be made usable for anything more complex?
Conventional brick and mortar banks will be out of business in less than a decade and bankers have never been known, much like politicians, for having vision or the ability to understand exponential effects, as they tend to see things from a linear perspective and lack the ability to see two or three or four moves ahead and adapt accordingly to taking into account the changes rather than trying to think of those two or three moves ahead being a different landscape than the current one.
We have over 100 different DDA accounts on the 30+ balance sheets we manage. Everything about treasury management of confined to the small business category, is uncommonly painful.
Is it the window of opportunity for cryptocurrency, or the window of opportunity for blockchain, which doesn't automatically mean crypto?