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Why would banks go away? In the UK Barclays ran a load of ads a year or two back about "PingIt", their app for sending money to phone numbers or paying for things with QR codes.

I mention this because you propose banks as active resisters, but from how I see it they stand to make significant efficiency gains by just maintaining an app and website, as opposed to making plastic squares by the million, maintaining thousands of ATMs, even still printing chequebooks...

Slight tangent, but I'm pretty sure sending money to phone numbers is pretty much how 90% of banking in Africa gets done, it seems like pretty cool stuff. Also, I have a bank account with PNC, and if I need to send money to a friend, all I need is their email address, and PNC sets up a transfer, and shoots them an email with a link and instructions for retrieving the money/depositing it into their (not necessarily PNC) bank account. Also the whole cashing a check via taking a photo on my phone is a pretty awesome feature.

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