This week’s episode points out that Analytical processes start with balances. We don’t open a bank statement and look at transactions, and ATM’s don’t have menu options that show us the last 300 transactions: we start with a balance. Blockchain does not really solve posting problems, which are at the heart of analytical needs for the coming social banking/commerce platforms. Posting turns transactions into balances, and eliminates the need to continually aggregate transactions. But each question can require a different balance to answer it. Blockchain will not transform the financial system world if it does not have a way of providing many types of balances. Episode 83 of Conversations with Kip, the best financial system vlog there is. Watch it here.
Analytics, Blockchain and the Coming Social Commerce Platform
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I'm all about financial systems education...and who isn't excited about that?
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