[2016-7-21] Machines that learn will decimate human jobs … or will they?

[newsatbravenewcoin]

I was having a debate yesterday where a bank executive was asking me about what the hottest things in FinTech are right now. My answer was machine learning (AI) and blockchain. There are others such as contextual commerce, voice recognition and digital assistants, but machine learning and blockchain are top of mind.

http://bravenewcoin.com/news/machines-that-learn-will-decimate-human-jobs-or-will-they/

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[Kprawn]

Blockchain are up there but for the wrong reason. They are not interested in the Bitcoin token/currency but rather the Blockchain technology behind it, that would improve on their current systems. The

FinTech giants have seen it's potential to increase their profits and to maximize their return on investment. I sometimes wonder what Satoshi would have said, if he saw what is going on today. Did he

or she ever conceived that his idea would fuel/improve and not disrupt these old fiat giants? 

[yayayo]

Blockchain are up there but for the wrong reason. They are not interested in the Bitcoin token/currency but rather the Blockchain technology behind it, that would improve on their current systems. The FinTech giants have seen it's potential to increase their profits and to maximize their return on investment. I sometimes wonder what Satoshi would have said, if he saw what is going on today. Did he or she ever conceived that his idea would fuel/improve and not disrupt these old fiat giants? 

Indeed the banks are not interested in Bitcoin, because a decentralized currency like Bitcoin will bereave them of their current power as agents in the fiat fractional / no reserve scam. Instead they try to establish private, i.e. centralized blockchains to mislead the public of what the Bitcoin blockchain is really about. Maybe the bankers - out of self-delusion - even believe in a meaningful usage scenario of centralized blockchains. However in reality there exists none.

The entire reason for Bitcoin using a resource intensive public blockchain is to make decentralization possible. If you want to have a centralized fund-transfer and logging system you can realize that with a traditional data bank much more efficiently.

Centralized blockchains are will turn out to be a pure money burning mechanism for the banks, leading to no avail.

ya.ya.yo!