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as media luminary Matt Levine has often pointed out, the blockchain doesn't solve a technological problem in cases like this, it solves a social and organizatio
by currymj 8y ago
as media luminary Matt Levine has often pointed out, the blockchain doesn't solve a technological problem in cases like this, it solves a social and organizational problem.
at a big bank, managing the process of modernizing or replacing legacy databases is a very low-status job. on the other hand, pioneering a new initiative with distributed ledger technology is much higher status.
- shepardrtc 8y ago> at a big bank, managing the process of modernizing or replacing legacy databases is a very low-status job Its also incredibly high-risk, so it generally doesn't happen. They'll keep ancient software running as long as they can until they need to switch over to something new. So, yes, you're right, they use separate, new initiatives with newer tech to essentially do "upgrades".