There is radical change all around us and more on the way. I know that. My blind spot is figuring out how that will affect my audit firm.
(Cross-posted from my other blog, Outrun Change.)
Here’s one part of radical change I can see on the horizon:
1-24 – Wall Street Journal – Bitcoin and the Digital-Currency Revolution / For all bitcoin’s growing pains, it represents the future of money and global finance.– For a brain stretcher on digital currency, check out the article. Focus is on Bitcoin, which is merely the starting point in a revolution of disintermediation.
Just like money funds disintermediated (that means cut out of the picture) bank deposits in the distant ‘80s, bitcoin and other yet-to-be-invented digital currencies will disintermediate a huge portion of the financial system.
Picture the long series of transactions when you buy a cup of coffee at the corner shop with your credit card (this is a long quote cited under fair use, oh, also to promote the book it is extracted from): …
Digital currencies are radical change on the horizon for banking and credit cards. (Radical change #2)Read More »