We are Subject Matter Experts in banking / financial service and novice spectators of Cryptocurrencies and BlockChain technology. Interesting time indeed for how the technology works for banks, correlated to how internet changed media, just few decades ago.
This recent analysis by HBR is a definite read for how the future might look like with the BlockChain :
- No ignoring cryptocurrencies and underlying blockchain as was the case for past decade
- Open-source code blockchain technology makes it more robust
- Compliance / Regulation embedded in its code
- Layers of Blockchain code, best match observed when everyone is on the same layer (analogy: TCP/IP protocol, HTTP in internet)
- Monetary policy embedded in open source code, for instance, new Bitcoin pumped into the system after equal intervals with upper cap maintained. (WOW!!+ critics)
- Too much too soon ?
(remainder summary in upcoming articles)
Keep following and learning newest financial happenings, as we do ...
In case you missed Contrawiz's earlier analysis on similar topics: