In this episode Rakesh Kant, an expert on financial and reporting systems, and I discussed briefly what is likely to propel the quantum benefits needed to transform our financial systems.
Quantum benefits are required in order to justify implementation costs for new financial system designs. Our financial systems were designed to be very cost effective. Given the focus on cost control by those owning these systems, the measurement of the new benefits must be rigorous, (or the resulting benefits adopted by some risk taker be very surprising) to get existing customers to convert to new ways of doing things.
The scales will tip at some point; our systems right now are very old, and new compute capacity models and greater access and ability to share data will ultimately win the day.
The sixth and final segment of a Conversation with in Lucknow, India, April 15, 2018, Episode 172 of Conversations with Kip, the best financial system vlog there is. Literally learn more–about ledgers and financial systems–at FinancialSystemsEducation.com.