Facebook To Be 'Biggest Bank' By 2015

angry tapir writes "The explosion of social networking commerce will lead to the unlikely candidate of Facebook becoming the world's biggest bank by the middle of the decade, according to a technology observer and entrepreneur. People who don't have a Facebook account should get one or risk having a financial profile created for them says founder and president of Metal International, Ken Rutkowski."

If this is true its a crap bank

[Chrisq]

People who don't have a Facebook account should get one or risk having a financial profile created for them says founder and president of Metal International, Ken Rutkowski.

If that's true its a crap bank. Can you imagine Bank of America, Barclays, or BNP Paribas saying "if you don't have an account already you better open one or someone else might do it in your name and build up a financial profile in your name"? If they are going to be a bank they should do some level of customer checking.

FUD, Bullshit, and lies ....

[gstoddart]

I find this article to be somewhat lacking on credibility.

This is some guy who claims to have invented "Web 3.0" telling us that traditional banks will be creating Facebook profiles on our behalf to track our credit rating? Based on what?

âoeWhy is its important to have a profile? They are going to start using that to determine what your credit worthiness is.â

âoeBy the way, if you donâ(TM)t have a profile they will make one for you so itâ(TM)s better for you to create it and manage it then them. Thatâ(TM)s why you want to be selective with what you put on there. If you have kids that are being idiots online make sure you stop them right away as they are creating a pretty negative profile long term and it happens often.â

This is some marketing idiot who is trying to push an idea.

I'm sorry, but this stupid article doesn't do anything to make me want to get a *(&%^&*$^ Facebook account. In fact, it reinforces the perception that Facebook is overhyped, with everybody thinking it's the most significant thing to ever happen.

Biggest bank by 2015? Mandatory Facebook accounts? What drivel. Someone needs to give this guys a smack.

Re:Like PayPal is a bank?

[Anonymous Coward]

This was actually the dumbest article ever posted on Slashdot. It makes "No Wireless. Less space than a Nomad. Lame" look like Pulitzer worthy reporting. I'm still hoping this is some sort of weird stupid joke.

Re:FUD, Bullshit, and lies ....

[turing_m]

This is some guy who claims to have invented "Web 3.0"

That's - that's good. That's good. Unless, of course, somebody comes up with Web 4.0. Then this guy's in trouble, huh?

Re:Like PayPal is a bank?

[DanTheStone]

I agree. What a terrible prediction. Facebook trying to make it easy to exchange Facebook credits for currency doesn't make it a bank in any way that a normal person would consider a bank. They don't offer credit lines. People aren't sending money to each other through it. They're not even at PayPal levels of bank functionality.

Real Estate

[Wiarumas]

In other news, Facebook will be the largest realtor by 2020. Better sign up and purchase a Facebook mortgage or else you might miss the bubble pop.

Re:FUD, Bullshit, and lies ....

[gstoddart]

That's - that's good. That's good. Unless, of course, somebody comes up with Web 4.0. Then this guy's in trouble, huh?

He can call it "Web pi*r^2" for all I fucking care.

If he's stupid enough to be envisioning a world in which Facebook is a bank and that it becomes mandatory that I have a profile otherwise a "real" bank (you know, one that's regulated and covered by banking laws) won't have anything to do with me ... well, then he's been smoking something which is likely illegal.

This is one of those random internet prognostications put forth by someone who is trying to sell this to people, not by someone who has insight into what is going to happen. This is a marketing statement, and is therefore worthy of a kick in the nuts, and not much else.

Re:Metal International? Who?

[M. Baranczak]

I'm sure there is. But it doesn't matter. It's 2011 - banks don't care about old-fashioned criteria like 'credit-worthiness' or 'proper identification'.