2018-7-26 00:59 |
Blockchain technology significantly reduces the cost of trust, which in the long run will lower the costs associated with the financial services industry, Pang recently noted.
Give the Blockchain Time to Mature
Pang landed a job with JP Morgan Chase a year before the 2008 financial crisis occurred.
Blockchain will also reduce the cost of trust, added Pang, who is now an honorary academic advisor at the Asian Blockchain Institute.
Quorum is an “enterprise-focused version of Ethereum” which was designed to address some of the challenges that have hindered mainstream adoption of blockchain technology in the financial industry.
Pang was not the first person to hail blockchain technology and cryptos as the best way to prevent another financial crisis.
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