What's The Future of Money?
The Stacking Benjamins Show
00:00
Are Banks Going to Be Less Important?
In modern economies, most money creation is undertaken by mercial banks. It turns so that if you think about money, there is the money created by central banks. What is happening right now is, at one of the very profitable business of banks, that is facilitating payments, is becoming less important. You can also use fintec lending platforms that would connect, let's say you had a lot of money and i was a someone with a project. You could give me money through something like kick starter, whereby we wouldn't have to go through a bank. So banks may start becoming less important but that raises a big question about who's going to create the credit that banks were creating.
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