I saw a very interesting video from Thomas Power this morning about The Bank Of Facebook. He pointed out that the number of people on Facebook is so huge, that it has the potential to start it’s own bank through peer to peer lending. A tremendous concept I think. I think it is important for us to take notice, because I feel that we are on the brink of change of a significant kind. And here’s why…
I had, and still do have, a crazy notion about the banking industry. I predicted that it would begin to go into decline, and eventually die and the enormous offices they once occupied will end up becoming museums – much like the cloth mills of the 19th Century. Yeah, crazy idea eh? Never happen…?
I considered the whole concept of change in the banking industry, an article I posted on Ecademy in February 2007 “Could This Be The End Of Office Politics” .
One of the characters in my book – the Tin Man “Tom Tindall-Heart” is really struggling with change. He works in The City Of London and doesn’t even know what Facebook is! He still relies on his Filofax and has no concept of Social Media. He is so far into his comfort zone that he doesn’t know how he’s going to climb out. But he knows that if he doesn’t confront this – he will be left behind.
Now, the Bank of Facebook, is a clear signal that change is already starting to happen and that far from remaining the ‘Fat Cats’ of the business world, the banking institutions as we know it (The Tin Men) could soon be under threat – because ordinary people (as I explained in my article) led by a more enlightened souls, will rise up, join forces and start doing their own thing – much like they did in the Peasant’s revolt.
So, everyone. What do YOU think? Is BIG change coming? Will Facebook and its kind really become that powerful that the engine that has driven our economies (i.e. capitalism/finance industry to use a broad term), will come to an end; to be replaced by something entirely new, based on different values, and a completey different model of how money flows?
Now I’m not an economist but it makes a lot of sense to me. We are in the midst of one of the most significant revolutions for over 100 years. No blood has been spilled, but what with the growing disenchantment with our governments and politics in general, the rise of the internet and the power it has given ordinary people – I’d wager that even more significant changes are on the way. Share your thoughts here.

