Reimagining Finance: The Internet Financial System

This chapter explores the concept of the 'Internet Financial System' as a more appropriate term for modern financial services, emphasizing efficiency and accessibility. It contrasts traditional banking systems, mired in high transaction costs and market concentration, with the streamlined potential of internet finance, which promotes innovation and lowers barriers to entry. Through discussions on the implications of net interest margins and capital allocation, the chapter critiques existing financial structures and advocates for a more integrated and open approach to global finance.

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