India's new banking system: a move in the right direction?

Posted by $ blarman 5 years, 7 months ago to Economics
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Sorry that its on Bloomberg, but the tenor of the article is right, asking questions instead of trying to propose partisan answers. Could this really be the model even the US should move toward?

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  • 1
    Posted by $ blarman 5 years, 7 months ago in reply to this comment.
    Agreed. On its face, it looked like a real positive move in the right direction. I just like to get verification.
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  • 2
    Posted by mshupe 5 years, 7 months ago
    Upon a quick read, I like this a lot. It doesn't solve the problem of government monopoly fiat currency, but it does decentralize record keeping and simplify routine financial transactions. It allows people to voluntarily negotiate their own terms.
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  • Posted by $ blarman 5 years, 7 months ago in reply to this comment.
    "Is this really as good as it looks?"

    That's why I'm asking for some more eyeballs on it. It looks really awesome. I'm just waiting for the letdown...
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  • Posted by exceller 5 years, 7 months ago
    Is this really as good as it looks?

    We are used to suspect fraud behind things any time when they look too good to be true.

    By the description of it, our financial system will never agree to something like this. Hand control over to the customer? What are you smoking?
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