A new wave of technological change is right beyond the next hill, really in the next couple of years. Its most visible symptom is the hyper-connectivity to the Internet, which fuels the evolution of: bitcoin-inspired distributed systems open APIs (application programming interface) as a new way to consumer business services on the internet crowd-sourced identity schemes open source hardware and applications How can the traditional industry players prepare for such changes? How can we leverage these changes to make low cost, secure and reliable financial services available for everyone on the planet? Imagine yourself being an electromechanical engineer back in the late 1940s. This was a period of vacuum tube electronics, and the appliances using this technology were widely used from the household to the heavy industry. it was a time where the technology was mastered. This vacuum tube “castle,” a safe and predictable technology, had gone through many cycles of improvement since its inception at the turn of the century. On the other hand, it was clear that the technology was reaching its limits in many applications that required different characteristics of portability and power consumption. The ”sandbox” experiment that would revolutionize the whole field of electronics had been [...]
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