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Blockchain Technology Could Save Banks $12 Billion a Year (silicon.co.uk)
Mickeycaskill quotes a report from Silicon.co.uk: Accenture research has found Blockchain technology has the potential to reduce infrastructure costs by an average of 30 percent for eight of the world's ten biggest banks. That equates to annual cost savings of $8-12 billion. The findings of the "Banking on Blockchain: A Value Analysis for Investment Banks" report are based on an analysis of granular cost data from the eight banks to identify exactly where value could be achieved. A vast amount of cost for today's investment banks comes from complex data reconciliation and confirmation processes with their clients and counterparts, as banks maintain independent databases of transactions and customer information. However, Blockchain would enable banks to move to a shared, distributed database that spans multiple organizations. It has become increasingly obvious in recent months that blockchain will be key to the future of the banking industry, with the majority of banks expected to adopt the technology within the next three years.
Actually, this has happened in the UK. I don't think it was legally forced but was more a suggestion from Government ("do it voluntarily or we'll force you"). The reasoning was a bank account is a basic requirement of living in the UK and not having one was making life more expensive for poorer people.
The banks don't push them so you have to ask. And like you suggest you get none of the bullshit - no overdraft, no credit but full online banking, over the counter, etc. And on the plus side, you get no overdraft, no credit and hence no charges.