Re: Former World Bank Chief Economist comments on payments tech

One more quote:

”That [financial] system already depends heavily on information technology,
and yet “it has not been disrupted as the distribution of books or clothing
has been” disrupted by that technology. That makes finance now “ripe for
disruption,” he says.


On 1 May 2014 11:16, Melvin Carvalho <melvincarvalho@gmail.com> wrote:

> “I’m not ready to stand with those who are sure they have seen the future
> here, but it seems to me that it’s a serious mistake to write this off as
> either ill-conceived or illegitimate.”
>
> “It seems to me that the people who confidently reject all the innovation
> here [in new payment and monetary systems] are on the wrong side of
> history.”
>
> “I am much more confident that the world of payments will look very
> different 20 years from now than I am about how it will look.”
>
> -- Larry Summers, former chief economist, world bank
>
>
> http://www.coindesk.com/former-obama-advisor-larry-summers-critics-dont-write-bitcoin/
>
> The last sentence seems quite encouraging for this group (and others)?
>