Future Vision by Erwin Van Lun on this article
You lend money to people you trust. You trust people you know. You know people when you’ve experienced something together with them. When you’ve been together for a prolonged period. The idea of a credit card, loaning based on no relationship at all, is based on nothing. The new financial system that’ll come will be based completely on trust. People are only allowed to spend money if they have it. People are only allowed to borrow when there’s a guarantee or trust. And a bank might not always know you well, but the bank can have relationships with people who have trust in you. Banks will start to use such relationships. Banks will start to facilitate networks in which mutual trust is shown. And that trust will be the basis for lending someone money.
That spells the end of credit cards and credit card companies. This development is shown here.