In the final installment of a three-part interview series, Geoff Kendrick, head of crypto research and EM FX West at Standard Chartered Bank, outlines the lender’s approach to crypto and why he feels that we’re only now seeing the tip of the iceberg when it comes to exploring blockchain’s potential use cases.
At one end of the use case spectrum, we have the World Bank telling us that the global unbanked sector has transactions of roughly US$20 trillion a year. As mentioned, quite a lot of that transaction space is unbanked because financial institutions are not available in quite a few of those core countries.
I don't buy all this unbanked nonsense. The problem with the unbanked is that they are also not locked into the system - it is to lock them into the digital ID network, not to give them services they have little money to pay for.
At the other end of the spectrum are all the smart contracts able to automate many functions that now require some human intervention.
One thing is for sure, and that's that the big banksters are consolidating power across all money sectors.
Again, this is what mass adoption will look like - mass assimilation.
all true, all obvious - so, what remains of the decentralised freedom trope?
lmao
The word will just change meaning, to mean plain distributed.
Like the word vax has been redefined to include genetic modification.