Where are the money π΅?
Wirecard scandal...
As an economist when I see a problem like this case: Missing β¬1.9 billion on its balance sheets.
My reaction was: Wow, what is going on with all the money π?
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| more about the scandal: https://en.wikipedia.org/wiki/Wirecard_scandal |
The German economy is an example of stability and healthy growth.
How is that possible?
I always do have concerns about the new kind of banks, payment providers, fintech companies, wallets, etc. Do you?
All new world of middle man βsolutionsβ that use all the same old bank systems and present it as a fancy new and fresh product.
Yes, they do the same just put it in a grimaced design and broke it into simple operations.
Then they make their solutions look like are more reliable, fast, and safe than the traditional ones.
To be clear:
- I use a Revolut bank card.
- A Fitbit wrist.
- A classic physical electronic signature, Evrotrust cloud signature.
- PayPal, ePay, Apple wallet.
I do love all the new technologies that help masses of people. But:
- Is it Ok to trust them?
- Are they have the capacity to rule our money?
- Do they have a safe monetary policy?
My final point is about the trust that we give to the newcomers on the market of money.
What I am talking about is written here: https://www.business.com/articles/types-digital-banks/
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