The digital revolution has left banking broken beyond repair. But information technology also opens up new possibilities that render banking redundant. Consequently, we should end banking and replace it with a transparent and disintermediated financial system, supported by peer-to-peer networks and modern trading technology. In the digital age, such a system is superior in supporting the real economy with money and credit to a banking system that is completely out of control.
Read the full interview with Jonathan McMillan about his vision of a stable, efficient, and fair financial system for the digital age.