- From: Melvin Carvalho <melvincarvalho@gmail.com>
- Date: Sun, 15 May 2016 12:16:37 +0200
- To: Web Payments <public-webpayments@w3.org>
- Message-ID: <CAKaEYhKBBPpU3jjRm-O9tEre5033pzKkvW6eNThE6EN7hBRUdQ@mail.gmail.com>
Nice article in the economist about tech and finance "TECHNOLOGY ought to have revolutionised finance more than any other industry. After all, modern money is mostly an entry on a computer—capable of being transmitted instantly and virtually costlessly around the world. Stockmarket activity is now dominated by high-frequency traders, who make deals faster than they can blink. The finance sector spends more on technology, as a proportion of its revenues, than any other industry. Nevertheless, compared with the world of e-commerce, banking still sometimes gives the impression of a Volkswagen Beetle instead of a Formula 1 racing car. It took many years of effort to get to a world of “T+2”, where securities are settled two days after the trade is made, rather than the “T+3” system that preceded it." Read more ... http://www.economist.com/news/finance-and-economics/21694531-all-money-spent-technology-banking-not-efficient-high-tech-meets-low I think we need to try to use the web to create more progress, in this area.
Received on Sunday, 15 May 2016 10:17:06 UTC