The Bank of Facebook

Okay. Let’s create a new bank. “But”, you say, “You don’t have any customers, and it’ll be too costly to get them!”, “Well, let’s say I have the potential to attract 2.7 billion customers, would that work?”, “Yes, of course!”. “But, how would you get trust?”, “Well, I issue receipts for IOUs that you bank will pay, in whichever bank and/or currency that you want!”. “But, how can I trust that they will pay it?”, “I will put the money away somewhere, so…