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Facebook To Be 'Biggest Bank' By 2015
angry tapir writes "The explosion of social networking commerce will lead to the unlikely candidate of Facebook becoming the world's biggest bank by the middle of the decade, according to a technology observer and entrepreneur. People who don't have a Facebook account should get one or risk having a financial profile created for them says founder and president of Metal International, Ken Rutkowski."
How will it work culturally to have rip off bank fees on a "free" social networking site? If someone complains in a post about being ripped off, will they censor? Or will it be part of the criminally enforceable terms of service not to disparage FaceBank?
"Science flies us to the moon. Religion flies us into buildings." - Victor Stenger
LOL - You know there is an "new" internet bubble when they start saying Facebook credits are going to be worth more than the money you have in the bank. Hmmm - I wonder where we've heard this before?!?
I just created Web 4.0, it's all magic. The cloud is gone in Web 4.0. It has become a fog. Go to the fog. It will really obscure your view of anything real.
Wonder if I'll get funding?
As for the article, what a load of BS. These social sites only have value because eyeballs are watching them and nothing more. Once the eyeballs go away, so does their value. Much like a highly watched TV show. When it's hot actors and the stations get $$$$. Once it jumps the shark, they get canceled. For if anything holds true, Facebook too will jump the shark one day.
There are no loopholes. It's either legal or it's not.