In this last week, there have been two occasions where I have had to make trips to the bank to see a physical teller. Both times I was beaming from ear-to-ear and I’ll tell you why.
Having now been involved in the blockchain and crypto community space for over 3 years I am starting to become accustomed to NOT WAITING. There are no signatures, no muppets to ask for verification. It is simply me, my keyboard and digital wallets. I don’t have to ask to be given permission to set any of these things up and sure as shit don’t have to sit for hours in a queue waiting for nonsense.
So it dawned on me, in the very near future once we move past some technical UI and UX designs and the average ‘joe’ can login with a standardized decentralized verification (like Civic) then the world is going to move very fast in the direction of a Bankless society.
Simply put:
- It’s faster
- Easier
- Cheaper
- More secure (as long as you take personal responsibility)
- Uncontrollable and unstoppable!
Further, what banks don't seem to realize yet, is that you don't need to interact with a person. That's right, the systems are better than any teller will ever be!
So it's not about the banks trying to play catchup with Ripple and any other myriad of blockchain-centralized projects, rather it's about a complete paradigm shift. It's about a people-less process - NO QUESTIONS ASKED
You won’t understand until you get going and have been in the market for 6 months or more. But let me warn you, heading into a bank and waiting like a child to ask permission to do something with YOUR MONEY is going to feel as strange as jumping in a horse and cart or heading into a shop to buy your favourite CD or DVD.
From friends I know in the banking industry, for the most part, they are as clueless as Kodak and the wave is well on the way.