Money has always been technology. It allows society to store time, effort and sacrifice today and redeem it for time, effort, and sacrifice in the future. Similar to how a title deed gives the holder a claim on a property, money is a claim on human time. When we exchange our time for money we hope that it can hold value for long enough to enable us to trade it for something we want.
Our banking and financial networks of today are simply communication networks for settling financial transactions, they guarantee that transactions will be processed, executed, and settled. Banks are responsible for interfacing with these networks on behalf of their clients — sending the right messages and responding appropriately to messages received. The internet brought us, as users of banks, that much closer to their messaging network, allowing for online banking and fast mobile payments all whilst hundreds of bank branches closed across the globe.
"It's imperative for survival and growth. Without regulated instruments like an ETF, the industry will tread water, because there will only be insignificant institutional adoption."
Cobus and Brendan have had a busy couple of weeks meeting with our service providers and regulators across the globe.
At the forefront of this developing trajectory is Stackr, a global fintech company that aims to disrupt the global savings industry by assisting clients in achieving their long-term wealth acquisition goals.
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Cobus Kruger, CEO of Stackr
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