Bank 4.0 by Brett King

Author:Brett King [King, Brett]
Language: eng
Format: epub
ISBN: 9789814828383
Publisher: Marshall Cavendish International (Asia) Pte Ltd
Published: 2018-08-14T17:00:00+00:00

Some regulators will certainly ban ICOs, some will even ban cryptocurrencies altogether. But others will see this as a competitive differentiation in a globalised economy that is restructuring around digital assets and commodities.

The trick here is that the ICOs and cryptocurrencies represent a sort of systemic shift similar to what occurred after the South Sea Bubble collapsed, not during the South Sea Bubble itself. This is the formation of a new marketplace built without the legal and geographical hurdles of the stock markets that operate globally today. ICOs on top of cryptocurrencies are simply an IP-optimized system designed for value exchange in a real-time world, where the value is decentralised, based on computing power and network effect, not central banks and government legislation. ICOs are, like most FinTechs and technologies, an attack on friction—the friction of raising capital.

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