Share the post "Why Miftah Ismail Did Not Answer Web Three Point Zero Question"
The hacker loaned themselves a lot of crypto tokens, enough to give them control over the company. They then voted to allow themselves to take control over all the tokens, thereby giving themselves free money.
- So to finish up, it’s a very crappy thought that just reformats the current issues of the web into another worldview with not so much oversight but rather more open doors for misuse.
Social Media Banks
With the accumulation of funds owned very large, perhaps only Google, Amazon, Facebook spread its wings into a bank, at least has a subsidiary specialized in banking that can support their business expansion. Globally, some people assume that the World is not in position to have one currency, walls are already there. Bitcoins have very little recognition. Euro has problems too. According to these people times are not ripe for global bank. But the future is all about tech. Therefore, the technology giants are going to dominate the financial landscape. Facebook just secured an e-money licence from the Central Bank of Ireland too in Dec 2016 that is. It will change everything from financial services companies going bust to banks closing down because big data is now more centralized with Facebook and Google. These corporations are almost certain to offer banking services in the near future. Personally, we think Apple has the best chance of being first and successful.
Anyone who says ‘privacy is overrated’ shouldn’t be taken seriously
Blockchain technologies offer up some huge potential in these areas to create new models that move profit margins from the big organisations to customers pockets. Regina went to FB for one big reason. That is centralization. In lots of ways it is singularity in motion. Facebook knows you better than your bank does. Doesn’t that mean that our information will be stored in other countries, from our understanding Google and Facebook will have to keep our information in Australia so how secure is that when these companies are global? We see it as a failure. Regina Dugan will have everyone eating their RFID passchip before you know it. Her DARPA background is perfect at her new home with Facebook! Bankbook! In Spain, Facebook has begun few days ago as financial company registered in Spanish Bank.
It’s not Scary, it’s just New
Client trends are changing and it is not a surprise that banks in the traditional sense need to reinvent themselves. There is really no need to have large banking offices, clients are using other methods to perform all their banking transactions. Google would be a good platform to run financial products, will Google become a bank? Not sure. However they have the technology and the client experience to launch a new idea of banking. The banks of the future do not required Debit or credit cards, you will paid with your phones or your finger print. We believe that Google has the human talent to be able to develop a more sound financial system to prevent fraud and detect unnecessary financial fees on the spot. The idea of thinking that clients need an office at every corner is obsolete. It is important that banks adapt quickly to the changes and think about the future. The future is going towards a cashless banking industry where one platform manages your home, your office, your finances and your personal life.
Google bank is coming soon! We’ve been listenting this will occur for last 10 yrs. They are already entering (or have already entered) the payments space look for example the Google Merchant Account. Bank’s are so far behind the technology curve there is effectively no real way for them to catch up….only differentiate. EMMAR can associate Google banking. If Alphabet wanted to buy a bank, really….what would stop them?? After all, the systems are just being switched to fully online. (Rather than a physical place) Could this be the first line in the horizon for more commercial usage of Bitcoin? Why become banks, when you can become the ultimate authority. If you have a problem, just ask google. If you need something just ask Amazon, if you want to talk to someone, just go on Facebook. It’s not like communication existed before these companies. Why not have these corporations take over the world? There would be no unemployment.
No Place for Conventional Banking in Future
What is the last innovation you remember a bank providing in terms of value to you? Internet banking? Now that’s a bit embarrassing isn’t it. As for Google and Facebook, they’re both social Networks. Networks like these 2 companies would gamble with your money and lose it all. Since banks don’t like losing money and are made up of people’s money, they also have no business becoming banks, especially Facebook. These corporations have more connect to people than banks do. Banks are hierarchical and non responsive to many general needs. Banks have to reinvent and even though it may or may not be good to have these companies now entering a potential banking space, its good compete and gives something for the banks to work on. To be honest, we really think that they already are … But they wont build “walls”. We believe these Social Media banks will choose selling more lucrative products and processes. These services will be convenient, cross channel and efficient. Existing banks will have a terrible time to compete. Credit unions ARE banks. Many insurance companies are banks (State Farm, AAA, etc.) So banks growing out of a “membership” such as Amazon and Facebook are actually more like the original CUs!!! They don’t have to be a traditional bank, maybe they add some much needed legitimacy to bitcoin by joining up with other tech companies to support it.
