• chris1634

No Crypto Today!

I will return to the core subject tomorrow but for today a news story concerning our centralised system caught my eye and it requires comment.

Apparently bank overdraft fees yielded £2.4 billion in 2017; the financial regulator The Financial Conduct Authority [FCA] is not happy! In fact it is so displeased that it is "proposing" changes. Bet the banks are scared now.

In other news it has been reported that the banks are dealing with around 185 regulatory changes every day. 1 every 12 minutes.

In some cases 1 in 3 people are checking the work of others; in some banks it is 2 in 3.

I can only imagine the cost of this regulatory burden but am reassured that the charges we pay on our overdrafts are going to a good home.

#centralised #decentralised #blockchain #cryptocurrency

3 views0 comments

Recent Posts

See All

Thomas Cook

The sad news of the demise of the UK's oldest travel operator did not come as a surprise, except for those unfortunate souls either out of the country or worse, about to depart. Already social media i

Yield Curve Predictions

Hopefully the title has not put you off reading this first effort in a week; Canadian economist Campbell Harvey developed his "yield curve model" at university - 3 recessions ago. This indication tool

The Financial Revolution Goes into Overdrive

Just received Facebook's Libra White Paper so digesting it today before making any direct comment. For today I will focus on the news first announced a couple of weeks ago and what it might mean for u