In the first of this series of two articles we looked at the impact of new technology on financial services. I wrote that technology, particularly digital technology, almost always starts as a way to do something you already do more efficiently than you already do it.
A spear is more efficient than a rock for hunting deer. In the same way, a simple computerised ledger with manual input is more efficient than a man in fingerless gloves writing in a big book with a quill pen. And blockchain is way more efficient than a basic single-site computerised ledger.
Greater efficiency by […]
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