The technological disruption of the banking industry - A picture is worth a thousand words
Most of us already know how broken the financial system is with all the politics and economic regulation trying to handle a complex and fast-paced financial ecosystem.
We all have already heard some saying the surge of recent crypto currencies market is creating even more chaos in an already collapsing sector. The fact is the banking industry has been sucking from the system through predatory rates and discriminatory policies for decades without anyone really noticing the big-picture problem.
The European banking stocks charts are not looking beautiful at all. Quite the opposite, we are seeing a piece of inevitable crash evidence that might come sooner than anyone has expected. Thus, the exhausting long run of the stocks and bonds market indicating a massive bubble pop, while FIAT currencies hold the lower purchasing power ever registered.
This is the scenario which this emerging new asset class market is facing right now. While government money is losing more and more trust over time, gold and crypto currencies are being seemed as safe-heavens for patrimonial protection against uncertainties and unfair politics around the globe.
We are seeing first-hand the remodeling of a new financial system where government money will have to share the space with people's and corporation's money. Banks have a short time span to adapt to this new environment or be sucked and destroyed by this new technological era. Unfortunately, the price of this development will be hundreds of thousands of jobs being shredded around the globe. Just like the music industry have been shaken and swallowed a few years ago.
As they say, a picture is worth a thousand words. This recent shot of Deutsche Bank employees leaving the office for the last time carrying a bag of bitcoin is just the start of a colossal institutional restructuring we will be seeing more and more often in the next few months.
Muito interessante! Quando algo novo, disruptivo, que até então não era nem imaginado chega, não só cria um novo ciclo, acaba e torna obsoleto o anterior. Foi assim com a internet, e agora é uma corrida contra o tempo para os próprios bancos não se tornarem obsoletos. E a libra vem aí para ser o maior concorrente deles!
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