I think that banks have historically done a really bad job transferring money all while making profits. They do however have some decent services when they aren’t putting restrictions on what I can do with my money. It is the poor performance of banks that ultimately drove a mass desire to switch to an alternative. That is the banks undoing all of their own. Now that they are being forced to do a better job.

I think that we still need banks, but in a different way than they have operated in the past. I think that banks will no longer be the safe storage of wealth. Instead they will be a conduit between cryptocurrency and physical cash.