Can the Internet Replace Big Banks?

Douglas Rushkoff, a media theorist, author, and documentarian. The ideas in this piece are built on the arguments of his new book, Present Shock: When Everything Happens Now.

We've seen digital technology disintermediate everything from record companies to university curriculum. Yet banking has remained rather immune to all this disruption

Sure, ATMs and online banking may threaten the bank teller's union, but central banking's monopoly over money has hardly budged. Just like we have to get our food from real plants and animals, we have to get our money from real banks. Or at least it appears that way to most of us