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121 sats \ 3 replies \ @justin_shocknet 15h \ on: How and why would bitcoin treasury companies become neobanks? bitcoin
A lot depends on how we define neobank... Investment? Commercial? Depository? Payment processor? Exchange 👀?
Also we can't project the future by speculating on Saylors vision or hubris/lack of. Too many external forces will be exerted on something of Strategy's scale, that it will eventually become high time preference. Every temple falls.
... So Saylor has spoken about the importance of network effects in finance, MSTR options market for example having no peer... His head start on the fixed supply future financial system automatically gives Strategy network effect for whatever it feels it has to pursue in the future
If equities get tokenized and regs relaxed, MSTR stock becomes indistinguishable from a fake L2 and therefore a payment rail. It's other tranches become stables or interest bearing accounts... Very bankish.
These shittokens also need an exchange, and exchanges make a killing with fake layer 2s already... Imagine boltzexchange/side swap fees on strategy volume.
Being headquartered outside of DC and connected to the IC, whatever changes to regulation are coming they're ready for. Even if they have to buy a banking license by buying a bank, they're in a better position to monetize it than most.
dolphin3 tells me they 'typically offer mobile-first banking services to individuals and small businesses with features like account management, bill payments, money transfers, and investments.'
Every financial app I see now tends to offer a 'free' credit card, and then all the things you'd associate with credit cards. I feel it's pretty hard to distinguish any 'kind' of neobank. They all seem to be really interested in you either sharing data between other banks, switching to/from other banks and 'knowing more about me' as I seem to remember one cab-hailing app say.
Will they all just end up being everything apps that want your attention and data?
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Will they all just end up being everything apps that want your attention and data?
As long as that's the obvious path to monetization, you can count on it. That said, at this stage it feels like its shuffling the deck chairs on the Titantic... at some point the cost of data and attention has to be value. This can't go on forever.
That is what gives Strategy a leg up in the future imo, they have a fixed percentage of the new financial system... so they won't need a gimmick Credit Card that has lesser rewards than Discover has had for ~20 years to attract high-churn (l)users.
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A lot depends on how we define neobank
Are all scams
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