Analytics, Blockchain and the Coming Social Commerce Platform

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.

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