End of Uber? (and perhaps banks?)
This is a short conceptual note w.r.t. my opinion on the impact of rapid advancements in technology on a traditional businesses. While blockchain technology (BCT) is often overshadowed by its glamorous cousin, the Bitcoin, I believe BCT to be one of the most significant advancements of this era. It addresses the very root upon which rest the foundations of many traditional businesses. Many businesses today are, at their core, in the business of 'trust'. They serve as 'brokers' (for lack of a better word) between parties who do not know/ trust each other. The easiest example is that of a stock exchange/ clearing house. The buyer is unsure whether the person who claims to hold the securities he wants to buy, actually holds them. The seller, on the other hand, is unsure whether the buyer has the funds to satisfy the value of the sale. Therefore they both trade through a stock exchange which guarantees performance in most cases. Another business that comes to...