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The Future Of Money

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The Future Of Money

A Complete Revolution

Forbes,

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Financial services are becoming part of a ubiquitous digital ecosystem.

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7

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  • Visionary

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The financial services sector is undergoing a major transformation: For decades, the industry operated within an analog, discrete and enclosed framework. But decentralized finance and fintech work within a digital, embedded and dispersed space. The new paradigm offers customers software and apps rather than traditional paper-based and in-person transactions, and it promises even more. Matthew Harris, a technology investment specialist, assesses the changing landscape in this informative essay aimed at financial professionals.

Summary

Fintech is moving financial services from a centralized framework to a decentralized finance model based on blockchain technology.

The global $800-billion financial services industry is transitioning from an analog world of banks, paper documents and human-reliant systems to a digital infrastructure of financial products that are embedded within commercial relationships between businesses and clients. Throughout this evolution, customers will find it less expensive to access and use financial products, and to execute payment and securities settlements.

Financial...

About the Author

Matthew Harris is a partner at Bain Capital Ventures.

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