It’s exactly the opposite of the way things work now, which is why it is so difficult for us (me too) to see.
We don’t need banks. We have self custody of a bearer instrument. ₿itcoin.
We don’t need interest rates or to earn yield. The hard money goes up in value forever due to its scarcity.
We don’t need inflation, which is just theft via monetary debasement, nothing more.
I’m actually reading The Price of Tomorrow rn (but I’ve been procrastinating). I’m sure it will make more sense when I’m done. I do think banks will still exist though, just not how we know them today. Not everyone will want to self custody their corn, for various reasons, so I think there will be a plethora of custodial institutions. Exchanges act as banks in this way now. There will also be “mints” as in fedimint that will be similar to small community banks issuing ecash to “depositors”
It’s the second book I give to everyone after The ₿itcoin Standard.
