Social Commerce: Family Independence Initiative

A friend introduced me to an interesting podcast recently, with Maurico Miller, which touches on many of the themes I am detecting in the move to put social commerce/social banking on top of social media.  They include trusted networks, social connections, new forms of credit scores, poverty alleviation  through expertise development, and others. The Family Independence Initiative platform Uptogether provides a way for people to connect in … Continue reading Social Commerce: Family Independence Initiative

Blockchain Gap: Liquidity Management, the Core of Banking

Banking at its core is the process of matching illiquid loans against liquid deposits. Blockchain is very focused on tracking individual items, perhaps loans for example; probably less on tracking individual deposits. Yet this process of matching illiquid loans against liquid deposits does not start by matching loans and deposits individually; one has to assess what the problem looks like in total. Blockchain adds nearly … Continue reading Blockchain Gap: Liquidity Management, the Core of Banking

Social Commerce and Financial Information

I’ve discussed Trust as a measure of efficiency, Social Commerce may soon lead to Social Risk Pools, and then Social Currencies that are based upon trust. The last needed element to see these trends realized is better financial information. Honest, trustworthy people need good financial information; in the same way a responsible person takes notes and keeps a list of commitments, good financial information helps … Continue reading Social Commerce and Financial Information

Social Currencies: Based on Social Trust

Two weeks ago I discussed Trust as a measure of efficiency. Last week I noted that Social Commerce may soon lead to Social Risk Pools. These two trends then may then lead to Social Currencies. Currency is nothing more than transferrable credit; it’s an IOU that someone else will accept because of trust in the issuer of the IOU. Currency is based upon trust. Bitcoin … Continue reading Social Currencies: Based on Social Trust

Social Risk Pools and Fintech

Our last conversation introduced the idea that trustworthiness generates the highest efficiencies for those involved. Today’ss conversation builds on that idea, introducing the idea of Social Risk Pools. Financial Services is the process of managing risk. Social Risk Pools are coming places where like minded people will manage commercial connections to obtain the highest possible returns depending on their commitment to honesty and integrity. Social … Continue reading Social Risk Pools and Fintech

Social Benefits of Trustworthiness

To many, trustworthiness seems pretty old fashioned; so old that it is perceived as a competitive disadvantage. Someone who doesn’t care about honesty can do anything they like; they aren’t constrained in their choices. This is mistaken thinking. Trustworthiness generates greater efficiencies than will ever be available to the untrustworthy. Book-length contracts can be reduced to a conversation and a handshake. Expensive enforcement processes can … Continue reading Social Benefits of Trustworthiness

Instrument ID and the Coming Social Commerce Platform

This week’s episode is the final in a series of videos about the coming social banking/social commerce platform. A fundamental change in data and posting architecture will be key to making this real: one aspect of that will be a detailed identifier on the Instrument Ledger. This increases the level of detail available from the ledger, without significantly increasing reconciliation processes–one of the major objectives … Continue reading Instrument ID and the Coming Social Commerce Platform

Blockchain, Metric Engines and the Coming Social Commerce Platform

In many of my earliest videos (and actually in a monograph I’ve written) I’ve proposed that the next evolution in structured data analysis is like a search engine, but one which performs calculations, which creates metrics: a Metric Engine. Each URL in a search engine is more like a “transaction” than a balance. Search engines do not calculate balances. If they show a balance, it … Continue reading Blockchain, Metric Engines and the Coming Social Commerce Platform

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, … Continue reading Analytics, Blockchain and the Coming Social Commerce Platform

Blockchain and the Next Generation ERP Systems

This week’s episode of my vlog discusses how Blockchain functionality may help us envision what the next generation of ERP systems may look like. Blockchain can be applied to any type of transaction data that is shared by multiple parties. Many transactions today in ERP systems do not involve exchange of currency; they are steps preparing to exchange currency, like purchase orders, shipping bills of … Continue reading Blockchain and the Next Generation ERP Systems