BANKING BY COMPUTERS (1969)
Credit:youtube
You could argue that BLOCKCHAIN TECHNOLOGY began its life back in 1969..!!
...."1969..??" ....I can hear some screaming.
Let me explain.
If you really want to understand how BLOCKCHAIN TECHNOLOGY is set to disrupt the Global Banking System it is worth going back to the beginning..!!
As a strong believer of looking back in order to see what lies ahead is something I do on a regular basis.
Now and again it's worth it just to take time out and understand what has been achieved in the past, in what time frame, and what were the results.
Having a passion for Technology and Finance I am always looking at predicting what is ahead when the two are brought together.
One way I do this is to understand what has happened in the past.
I was doing a little digging earlier to help find something that will help people to understand why Blockchain Technology is set to revolutionise Banking by decentralising the whole system.
In order to understand what effects will be felt in decentralising the system and migrate everything on to a Digital Distributed Ledger I thought I would take you right back to the very beginning.
The above is taken from the Tomorrow's World archives and is called: New Banking 9th December 1969..!!
It is well worth watching as it helps to understand where we have been.
Migrating the "manual clerk ledger" to a "centralised computer ledger" in 1969 is exactly the same step that we are taking today, except today we are migrating the "centralised computer ledger" to a "DECENTRALISED DISTRIBUTED DIGITAL LEDGER"..!!
The clues are in the short video made in 1969, you just have to look and listen out for them.
Once again, a great video and well worth taking little over 4 minutes out of your day to watch.
Go on, put the kettle on, kick off your shoes, have a brew, take a break and look back to 1969, the start of implementing BLOCKCHAIN TECHNOLOGY..!!
Thanks again for reading/watching.
Stephen