A key factor in reimagining finance for the internet age is the very nature of person-to-person connectivity and peer-to-peer networking. These two factors are very different and also different in the nature of how people are connecting. In the developed world, we have the viral connectivity of the smartphone; in the developing world, we have the basic connectivity of the mobile phone. Soon, both will transition into smart and mobile objects from cars and televisions to heating systems and refrigerators. In fact, with Nest and Samsung Home, it’s already pretty much there.
The banking system meanwhile is still stuck in a world of debit and credit transactional structures of volume and value based upon people paying for things. As we move from paying for things to consuming parts of things and as our devices order those things on our behalf, the banking system needs to rethink.
http://bravenewcoin.com/news/how-peer-to-peer-changes-the-financial-world/
