Loading ...Elon Musk says he’s ‘open to the idea’ of buying crisis-hit Silicon Valley Bank and turning Twitter into a digital bank
- Musk said in a tweet that he’s open to rescuing the crisis-hit Silicon Valley Bank
- The sudden collapse of the bank has sent financial markets into a frenzy
- Responded to user asking if ‘Twitter should buy SVB and become a digital bank’
QUESTION…WHAT’S A DIGITAL BANK ?
AREN’T ALL BANKS DIGITAL ?
AREN’T ALL OUR BANK ACCOUNT’S JUST DIGITS ACCUMULATED AND DISPENSED BACK AND FORTH INTO THE ECONOMY ?
I think a digital bank is one without walls. No bricks and mortar in other words. Its all online.
Interesting…so are deposits insured by some Government somewhere ?
Is it like ..You pretend to give them you “money” and the pretend to hold it for you ?
Have you ever seen the ads for PC Financial when you were inside a Great Canadian Superstore? Its like that. Totally online. No tellers or anything and nobody to complain too when it goes South.