Re:Every Company Will Be a Fintech Company
by stonogo on Monday October 26, 2020 @02:14PM
(#24899215)
Is anyone surprised a venture capital firm thinks every company should focus on money? Just like software companies think every company should live or die on tech, logistics companies think every company should live or die on logistics... seems like typical tunnel vision.
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Re:Every Company Will Be a Fintech Company
by Accujack on Monday October 26, 2020 @02:55PM
(#24899760)
I feel like this whole article was written for some alternate reality where the only reason every company isn't a bank is that they don't have the infrastructure.
Banks are regulated for a long list of reasons, and allowing every company that wants to make money fast act like a bank is a really, really bad idea.
Money laundering, tax evasion, embezzlement and a thousand other white collar crimes will be vastly increased by increasing the number of corporations allowed to act as banks while not simultaneously providing regulatory frameworks. Imagine Paypal times 10,000.