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Title: [2015-06-09] CNN Money: Your bank account: The next thing to go obsolete Post by: LiteCoinGuy on June 09, 2015, 02:56:58 PM Your bank account: The next thing to go obsolete
Not only is banking not for everyone, accounts are inaccessible to about half of the world. People are too poor, live too far from a bank or don't have the required documentation. Abra, a new startup, makes banking more accessible while completely cutting out the actual bank. http://money.cnn.com/2015/06/08/technology/abra-bank/index.html?category=home Title: Re: [2015-06-09] CNN Money: Your bank account: The next thing to go obsolete Post by: pitham1 on June 10, 2015, 12:12:42 AM Abra is just as anonymous as cash. Other than a phone number, no data is collected.
I see a lot of regulatory action coming up on this front. :) Title: Re: [2015-06-09] CNN Money: Your bank account: The next thing to go obsolete Post by: bitbouillion on June 10, 2015, 05:13:57 AM Abra is like Hawala on the blockchain.
https://en.wikipedia.org/wiki/Hawala http://qntra.net/2015/03/digital-hawala-for-the-poor/ Title: Re: [2015-06-09] CNN Money: Your bank account: The next thing to go obsolete Post by: 1Referee on June 10, 2015, 06:01:29 AM The idea itself is quite interesting, however, I don't like the fact that you have to meet with some one in order to get the money you need in your hand. Same for deposits.
Title: Re: [2015-06-09] CNN Money: Your bank account: The next thing to go obsolete Post by: Krang on June 10, 2015, 09:50:58 AM It'll be a long time before bank accounts in the Western World are replaced or go the way of the Dodo, but for the unbanked in developing nations bitcoin and these types of services may be their only option so I could see this as a way for bitcoin to flourish.
Title: Re: [2015-06-09] CNN Money: Your bank account: The next thing to go obsolete Post by: Kakmakr on June 10, 2015, 10:04:58 AM Let the banks deal with financing loans and the safe keeping of valuables in vaults. There will always be a use for them, because they have security infrastructure in place to protect valuables . They should leave our personal savings alone, it only cause more animosity with the public, when they screw with that. I lost all trust in them with the last banking crysis. ^hate^
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