The Future Of Money: A Complete Revolution

Once identity is solved, credit risk becomes easier. You can’t commit fraud or default on your debt just by wriggling free into the ether; your credit history is immutable and follows you everywhere. In a fully transparent world — even if pseudonymous — willingness to pay becomes a given, and so the analysis can focus on ability to pay.

For this digital, embedded, and decentralized world to reach its full potential, there are meaningful problems to be solved. We must be able to establish identity, at point of transaction and over time, even if pseudonymous. We must have real time and persistent credit risk management, for people, businesses and for specific obligations between and... See more

Increasingly, fintech isn’t just about stealing the incremental customer, or participating in the evolution of the industry from analog to digital. It is a fundamental overthrow of how things have been done historically: a complete revolution.

Once financial services were digital, they no longer needed to exist as discrete products; they could become embedded in software that consumers and businesses use all day long, and with which they have a durable and data-rich relationship. We are early in that process, and it requires imagination to see where it ends. For a while, it’s just going ... See more