Historically, the financial services industry has been protected from significant market disruption based on new technological innovation.1 Incumbent companies in the industry have a number of economic moats to rely on: “ubiquitous distribution through branches”; “unique expertise such as credit underwriting”; and “the special status of being regulated institutions that supply credit . . ….
Tag: Financial Services
Bitcoin Regulation
Recently, Mark Wetjen, a commissioner of the Commodity Futures Trading Commission, published an op-ed in The Wall Street Journal calling for the regulation of the digital currency, Bitcoin.1 Citing the need of merchants to hedge exposure to fluctuations in Bitcoin’s value, trading platforms beginning to list Bitcoin derivatives contracts, its financial innovative capabilities, and the…