Why Bureaucrats and Banks Won't Be Replaced By Computers

I wrote a few posts about cryptocurrency in the first few months of posting on this blog. I've gradually become a skeptic about it as a competitor to the financial system, which is really a imperialist system run out of New York and maybe London.

Banking is a trivial undertaking from a technological point of view. Computers, networks, and mass storage are so cheap these days that the infrastructure cost to do the equivalent operations a bank does--and what most gov't departmens do--would be next to nothing. However, if you wanted to start a bank, or even just transfer money around in "accounts", you have to jump through a thousand hoops under the guise of preventing money laundering, but the regulations are really there to keep transferring wealth to the empire.

Is it really possible to stand up a new system in parallel to the old one, and so avoid a confrontation with the man? 

I think the "system" isn't nearly as important as ushering in a new understanding of credit and to get people to think, at least a little bit, about what they're doing with their lives.