“We need banking but we don’t need banks anymore. Do you think someday we can open bank account or ask for loan without physically have to come to the bank?” Bill Gates, Founder of Microsoft Disruption in Banking After the 2008 financial crisis, many banks were reluctant to lend to consumers and small businesses due to internal capital ratio concerns, increased regulatory restrictions, credit/liquidity risks, and lack of profitability. To cover their high operating costs and inventory risk, banks had to charge a higher interest rate for both cash loans and lines of credit.
Leaping toward People’s “Liberated” Currency
Leaping toward People’s “Liberated” Currency
Leaping toward People’s “Liberated” Currency
“We need banking but we don’t need banks anymore. Do you think someday we can open bank account or ask for loan without physically have to come to the bank?” Bill Gates, Founder of Microsoft Disruption in Banking After the 2008 financial crisis, many banks were reluctant to lend to consumers and small businesses due to internal capital ratio concerns, increased regulatory restrictions, credit/liquidity risks, and lack of profitability. To cover their high operating costs and inventory risk, banks had to charge a higher interest rate for both cash loans and lines of credit.