I recently shared my thoughts on the intersection of trust, technology, and the financial industry via a guest post on TechCrunch. You can read my original guest post below:
To say Wall Street currently suffers from a deficit of trust would be an understatement. In the last few years alone, the government had to bail out Wall Street to the tune of $700 billion, Madoffand Stanford bilked investors of billions, and ex-Goldman executive Greg Smith’s damning op-ed in the New York Times gave everyday people a glimpse into Wall Street’s profits over people mentality.
In response to the recent fiascos on Wall Street, the government decided to subject the financial industry to its most widespread reform since the Great Depression: the nearly-850-page Dodd-Frank act. This complex regulation is only part of the solution and is a reactionary approach to solving a problem for which the fundamental root cause is surprisingly simple: people no longer trust Wall Street. Regulation may restore stability, but it won’t restore trust. So what will?
Continue reading →
Via TechCrunch: How Tech Can Solve The Financial Industry’s Deficit Of Trust
I recently shared my thoughts on the intersection of trust, technology, and the financial industry via a guest post on TechCrunch. You can read my original guest post below:
To say Wall Street currently suffers from a deficit of trust would be an understatement. In the last few years alone, the government had to bail out Wall Street to the tune of $700 billion, Madoffand Stanford bilked investors of billions, and ex-Goldman executive Greg Smith’s damning op-ed in the New York Times gave everyday people a glimpse into Wall Street’s profits over people mentality.
In response to the recent fiascos on Wall Street, the government decided to subject the financial industry to its most widespread reform since the Great Depression: the nearly-850-page Dodd-Frank act. This complex regulation is only part of the solution and is a reactionary approach to solving a problem for which the fundamental root cause is surprisingly simple: people no longer trust Wall Street. Regulation may restore stability, but it won’t restore trust. So what will?
Continue reading →