World without banks?
The Internet turned the world of retail, book publishing and finance upside down. Now the next digital age is dawning. It could make banks superfluous.
The virtual currency Bitcoin is probably the beginning of a revolution. Bitcoin is based on the so-called block chain technology. She no longer needs banks for money transfers, transfers take only fractions of a second.
Fast, direct and safe
Blockchain is a kind of register on the Internet. Amounts of money, securities or contracts are recorded, for example. The data records are considered secure: copies are stored on thousands of computers worldwide. Manipulation or counterfeiting would quickly be discovered.
Food supply chains can be traced just as seamlessly as the exact origin of a single gemstone, for example. Business is done quickly, cheaply and without any intermediate authority. Perhaps this is why in future we will not only manage without banks, but also without notaries, brokers, identification documents and control authorities.
Is the revolution of our everyday life imminent? And the way we do business?
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