These are two very contrasting views on the future of banking.
The first is a very neat newsletter from Hosking Partners that presents banking in as simple light as possible.
Banks are trusted to hold deposits, to transform their maturity and take diversified credit risk. As a result they have high earning power. The latter is tough to beat and large banks will beat challengers on customer facing technology reaping the cost savings.
Contrasting this are two pieces from Net Interest, chronicling his journey through the evolving world of decentralised finance (DeFi – for those interested this is a good background on the topic).
First he tries to start his own decentralised bank and then writes about Maker DAO, an existing one.
