Economics

In the 50's a check took 2 weeks to move through the banking system, called float

money float has dissipated since, yet remains

removing float by using blockchains will compress time & events by allowing money to be sent/received in milliseconds

the impact will be profound

Head Prod @Visa Crypto | Architect @ Linux OpenWalletFnd |

Building the future w/ a networked tribe of tinkerers |

Views my own

Complexity explorer. Residing in the liminal.

true, net settlement has a place - although mostly because of the high cost and slow settlement times associated with money movement

Yeah, but end of day settlement significantly reduced transactions between banks. Bank A owes Bank B $100mm, B owes A $90mm so A sends B $10mm in one transaction at end of day.

you probably don’t think about liquidity enough // it is what it is  // build value, not valuation

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yes! fiat payouts can be authorized instantly so the employee has access to funds in minutes

but funds still take days to settle on the backend between banks and cannot move on weekends/bank holidays. The operational cost is still too high offchain to payout in real-time or even once per day

Is this why we have traditionally biweekly payroll?