Graphic: Future Finance Technology — Not Transformative at All

IO Impotency
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Click on Image to Enlarge

Source

Tip of the Hat to Berto Jongman.

Robert David Steele Vivas
Robert David Steele Vivas

ROBERT STEELE: Quite fascinating and a marvelous graphic. What is missing from the entire “new” financial perspective is the combination of intelligence with integrity (decision-support that can be relied upon as truthful). True cost economics is something every consumer is going to want at the point of sale — red, yellow, green buttons for water, fuel, toxins, child labor, tax avoidance, regulatory failure. I certainly agree with other commentators that the “new” financial industry is far removed from where it needs to be on both transparency (to eradicate corruption) and encryption (to eradicate various other forms of evil).  The day will come when payments are an information stream within a variety of melded information streams, the others being equally if not more important than payments — provenance and true cost information, assured anonymity, privacy, rights, and security another.

Here is just one graphic on the kind of truthful information that should be available at the point of sale — done right this will change markets overnight.

Click on Image to Enlarge
Click on Image to Enlarge

The original graphic also fails to reflect the disappearance of jobs and the urgency of arriving at new means of keeping economic innovation going by melding basic incomes, new forms of automated payment transaction taxes, and radical changes in how we self-insure.

In a sick sort of way, this is like Amazon selling books as objects without monetizing — or respecting the inherent value — of the integral information within each book and among books, and the value of the relations among individual authors, reviewers, and readers in time and space.

Finance is out of touch with reality. The same is true of clouds.

See Also:

Anonymity @ Phi Beta Iota

Privacy @ Phi Beta Iota

Rights @ Phi Beta Iota

Security @ Phi Beta Iota

True Cost @ Phi Beta Iota

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