Tim Wallace — Core of banking could be destroyed by blockchain, says Barclays’ former boss

New technology such as artificial intelligence and blockchain will utterly shake up the fundamental principles of banking, challenging the entire industry according to former Barclays chief Antony Jenkins.

He believes the innovation in finance could eliminate the need for maturity transformation – the process by which short-term deposits, such as current accounts and instant access savings, fund long-term loans including mortgages.

That is a fundamental principle of the industry as banks can offer a low interest rate to savers while charging more to borrowers, profiting from the gap between the two rates. Yet in 10 to 20 years’ time, he believes the need for banks to perform the function might no longer exist – already some investors are sidestepping banks by using websites to match borrowers and savers directly.…

The Telegraph
Core of banking could be destroyed by blockchain, says Barclays’ former boss
Tim Wallace

Cat Johnson — The Rise of the Sharing Communities

“To me, the question is not so much about whether access is better than ownership,” says Ouishare co-founder Antonon Leonard. “It's about people. It's a change in culture. People have just started to realize that they have amazing opportunities to express themselves, be their own bosses, and start a new life.”

Leonard stresses that community “is everything” and that Ouishare is built around people who do things, not those who say they will do things.

“We need complex solutions to solve complex world issues,” he says. “We bet that it's only by connecting people with different perspectives that we'll be able to bring sustainable change. Sharing is an amazing opportunity to build a community and you need to build a community in order to make sharing work.”

Shareable
The Rise of the Sharing Communities
Cat Johnson

Creativity is enhanced by creating information, emotion, and tool-rich  communities and environments.