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Chapter 6 The Democratization of Finance Spurs Innovation

CHAPTER 6

The Democratization of Finance Spurs Innovation

  • Democratization of finance makes a better world by unleashing entrepreneurial effort.
  • Financial services will be software, creating significant disruption and changing consumer experiences in positive ways.
  • Blockchain will be an enabler of structural change in financial services, delivering not only speed, accuracy, and low cost, but also bringing about decentralization and disintermediation.
  • Global platforms will also have the effect of democratizing financial services; for example, giving access to venture capital to small individual investors.
  • Crypto-currencies will be massively disruptive to monopoly fiat monetary systems.
  • Consumers will be conscious of the quality change in financial services and the transition of power back to the individual, but not necessarily of the technology.

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