Fantastic article Dave! In my view the efforts of Fnality and its backers demonstrate a cannon principle. New technologies are FIRST used to improve the competitive position of existing incumbents before being applied to new uses. Tokenization of assets just makes sense, and all of the large FI players are sinking billions into the effort. This is why we see behemoths like IBM focus on closed blockchain networks like hyperledger. It will be some time before see the consumer side of this in OECD 20 markets.
WRT/ consumers, the other tech cannon is the innovators dilemma. How can a new tech be used at the very low end, where margin is very unattractive for incumbants. For example, DeFi will succeed in this market niche. Markets without effective banking, legal infrastructure, or enforceable contracts.
Fantastic article Dave! In my view the efforts of Fnality and its backers demonstrate a cannon principle. New technologies are FIRST used to improve the competitive position of existing incumbents before being applied to new uses. Tokenization of assets just makes sense, and all of the large FI players are sinking billions into the effort. This is why we see behemoths like IBM focus on closed blockchain networks like hyperledger. It will be some time before see the consumer side of this in OECD 20 markets.
WRT/ consumers, the other tech cannon is the innovators dilemma. How can a new tech be used at the very low end, where margin is very unattractive for incumbants. For example, DeFi will succeed in this market niche. Markets without effective banking, legal infrastructure, or enforceable contracts.