Without the credit aggregation provided by the banking system, how would I get a large mortgage or business loan?
First, nothing prevents large bank-like credit aggregators from participating in the system. One might say that Ripple is an experiment to discover not only the degree to which large credit aggregators are required in our economy when they are no longer required to satisfy the payment-routing function, but also to discover the degree to which the need for large credit aggregators to exist in order to route payments determines the nature of our economy.
