Mobile Only Banking

06 Sep


A Hand-held Revolution [courtesy Google Images]

A Hand-held Revolution
[courtesy Google Images]

I’m not a real-estate student or investor.  Nevertheless, the following video was produced from a real estate agent’s perspective by the NREP (National Real Estate Post).  The video describes an ongoing revolution that involves “smart phones” and “mobile only banks”.

According to the video, there are now ten banks in the world that are “mobile only”.  That means these banks have no vaults, no tellers, no ATMs, or branch offices.  You can’t even access these banks by means of your desktop computer.  They are only accessible by means of smart phones.

As I said, “mobile only” banking marks a revolution.  This revolution points towards a purely digital, global currency.  The question is, can this “revolution” withstand the dangers of digital currency, digital banking and hackers?

video     00:06:20



Posted by on September 6, 2016 in Banking, Digital currency, Technology


Tags: ,

9 responses to “Mobile Only Banking

  1. moon

    September 6, 2016 at 11:07 AM

    Yea, well, I’m not going to use a “smart phone”. Yep, just a bit red neck about that. Don’t think I’m the only one either. So, how close will we get back to using an original buck…the buckskin the term buck came from?

    • palani

      September 7, 2016 at 8:00 AM

      Do you know the difference between a buck and a hart?

      • palani

        September 7, 2016 at 8:07 AM

        To answer my own question (and not to leave you in suspense). .. a buck is a male deer…. a hart is the same male deer while it is pursued or after it is slain by the king. So a buck might also be a hart if there is a sovereign entity involved. My guess is that everyone deals in bucks these days. Participation in the social welfare scheme relieves one of any sovereignty they might have had.

      • moon

        September 7, 2016 at 9:58 AM

        Thanks for not leaving me in suspense…seems to be plenty already.

        With so many ways the systems can malfunction, it seems likely that some of us will need to know a bit about living off the land…if the land still exists.

        Ye hi, rock and roll!

  2. Jethro!

    September 6, 2016 at 11:09 AM

    On one hand, I love the concept of banking being out of the hands of bankers (who gladly do the bidding of government thieves). On the other, a purely digital/virtual banking system means your money is actually nowhere and no one is accountable for it. Hard to say how this will shake out, though it appears the technologies are advancing faster than repercussions can be assessed.

    Interesting times.

  3. dog-move

    September 6, 2016 at 12:36 PM

    The banking service sector is adopting a sort of robotics device mechanism to substitute the out of control payroll expense associated with employing someone and paying them a living wage. The cost to employ individuals is out of control due to burdensome regulation from Gov co. This is strangling all free enterprise ventures.
    The bankers are always inventing something “NEW” for the consumers to get excited over.
    Banker sorcery is banker sorcery, no-thing new under the sun here.
    These creatures want me to get a cell phone. I have never had one and never will.

  4. Mr Virtue

    September 6, 2016 at 1:05 PM

    What is Real Money? This is an expansion for fiction, please do not get hit with your pants down.

  5. wholy1

    September 6, 2016 at 2:04 PM

    Mobile “bankSTERing? It works until . . . . well, it does NOT – SUDDENLY. For those unsuspecting FOOLs withOUT a standby “St[c]ash”/RURAL Digs alternative when those electronic “digits” become even more ephemeral than the [paper] “bird in the bush”, don’t come a knocking at this RURAL GROUPs well-armed digs.

  6. Lyndon

    September 8, 2016 at 8:49 AM

    Keep it simple. If you don’t possess it physically, it is not all yours.
    Don:t use electronic records because they don’t exist (they sometimes appear)


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