there are less banks (increased market concentration) which, amongst other factors, leads to lower competition in the banking sector. a net/net negative for society. digitization often comes with a winner takes most outcome, which leads us to expect few fintech giants. iow, there will be few TransferWises, Robinhoods, Coinbases, Stripes, Klarnas, Monzos. this also means less rather than more intra banking competition. so far the crypto world follows power laws & market concentration. is the future of financial services doomed to be ever more concentrated? bar legislative or regulatory fiat? what say you? #banking #banks #digitization #fintech #competition #financialservices #crypto …see more