How Hyperbitcoinization will affect financial services

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Hyperbitcoinization would have profound effects on the financial services industry, which now accounts for >20% of GDP (incl. insurance / real estate.

Most importantly, the relative size of the financial sector would return to that last seen during the gold standard (less than 5% of GDP)…

To name a few obvious examples the size and role of central banking, FX markets, payments, short term credit, and treasury mgmt would be greatly diminished as those services in their current form would become superfluous.

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