At the dawn of the Internet, many hoped that the cost of internal and external financial transactions would be reduced to the bare minimum, benefiting companies and consumers alike. These hopes, it turns out, were too far-fetched due to the issue of trust between financial sector players. This manifested itself vividly during the 2008 financial crisis, when inter-bank financial lending reached its lowest point. Could blockchain, the technology behind the crypto-currency Bitcom, provide the solution? Likely so, argues Alex Tapscott, the CEO of Northwest Passage Ventures, a firm that helps start-ups, and the co-author of the book titled Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business, and the World.
Read the full interview at Allianz.