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RE: Will Offshore Banking be Relevant in a Crypto World?
You need to think of banking as a collection of various services and not a single all encompassing service. For retail banking the answer to your question is a definite no. The bread and butter of retail banking is transactions and a safe place to hold your money. Since they are both pretty much disasters in retail banking now, the crypto model is going to kill these banking services soon enough. Other banking services however will continue albeit in revised format
Agreed. My main argument is that offshore banking in the form of anonymous accounts had a very important role for political and financial privacy reasons. This would mostly fall under the retail side of things especially in terms of deposits. That model is very quickly fading (pretty much gone). I do not foresee the banking industry as a whole disappear, but it definitely will need to evolve, meaning banks will need to determine how to adopt crypto-currencies and integrate them into their business models. Thanks for your feedback.