Digital Transformation in the Second Era of the Internet
"How every industry and every individual can prosper from Crypto Investments and the Next Generation of Fintech".
The technology likely to have the greatest impact on the financial services industry and the world of business has arrived. It’s not peer-to-peer lending, big data, Mobile banking robo-advisors, or Apple Pay or even artificial intelligence. It’s the blockchain, the technology behind digital currencies like Bitcoin. This technology represents nothing less than the second generation of the Internet, and it holds the potential to profoundly transform the financial services industry.
Among other things all financial assets, from money, to securities, customer data, policies, contracts, deeds, intellectual property are becoming digitized. The Internet of Information was in the public domain. The Internet of Value is and will be owned by investors. Bitcoin is just the tip of the iceberg. This presents the biggest opportunity for investors, perhaps ever.
The financial services industry needs a new transactional architecture a new ledger of accounts, a database, a notary, a sentry, and clearing house, all achieved through consensus mechanism. This holds the potential to make financial markets radically more efficient, secure, inclusive and transparent. This is also good news for consumers who will have more choices, more privacy and better access, all at lower costs. But this could also represent a once in a generation opportunity for incumbents too, if they’re willing to embrace change. Government leaders and regulators need to understand this transformation as well too.