I’ve posted extensively at my displeasure at how backwards banking systems invariably seem to be, I’ve also commented at length about my belief that 2008 will be the year that we see social networking sites becoming truly value adding. Put the two together and you have a pretty strong case for subverting a significant proportion of commerce as it is transacted today and putting it into a 2.0 framework.
RWW predicts that 2008 will be the Year of Business Networking, with predictions that LinkedIn will either IPO or be bought. Clearly the sort of change we’re talking about here is significantly gargantuan to need serious amounts of both capital and credibility to pull it off, public listing or ownership by a publicly traded company would provide the fuel for LinkedIn to rally up the ante.
The ripple project seeks to subvert banking by creating an opportunity for peer to peer financial transactions to occur. The ripple project is an open source one and this will be its limiting factor. To really subvert banking will take a neutral platform players with significant scale and credibility.
Google would be the natural choice – anyone want to comment on the possibility?