4th industrial revolution and what part in it blockchain might play

[Cryptocnnon485]

Everyone knows that the 4th industrial revolution has to be data-driven and the biggest tech companies are racing to position them selfs for more data-oriented businesses, but given the fact that data storage is the biggest issue for them, blockchain can find itself very useful in this situation. One of the biggest things to watch out for in the coming years would be companies that align them selfs with the crypto community or are developing a blockchain of their own. For example, Samsung is one of the biggest phone producers in the world, more and more people are using phones as they go compared to a pc. Imagine implementing a hardware wallet to make your own blockchain network. Making it more secure and positioning your self „storing“ or controlling all of the input data from a phone.
This could be a new internet, without the problem of building huge servers to store the data for business applications. It could be stored on your phone on your hardware wallet nice and safe! Link to a Samsungs new hardware wallet for crypto (https://www.coindesk.com/samsung-at-last-adds-bitcoin-functionality-to-its-blockchain-phones)
Vice President of Samsung Electronics, Joowan Kim,  who is also in charge of major mobile service strategy and business development just announced a partnership with a blockchain company called Lympo which has been building a data platform based on health trackers and fitness activity (https://www.youtube.com/watch?v=AenafGYSrho&t=) (have your English subtitles on). The most important aspect of it is that using Lympo you can choose if you what to store your data safely or you can monetize it. I think the future will be based on voluntary data exposure, imagine if all of the phones on the market are stealing your data and selling them to the biggest bidder (kinda like now) and you can choose to keep it safe or monetising it for your self, getting rewards from it. The choice is clear! It looks like Samsung is looking in too that direction partnering up with blockchain data platform companies like Lympo and building a new internet based on safeguarding your data on a hardware wallet, most important giving you the choice of selling your own data, making you own it. In that case, making Samsung one of the biggest sellers of data. Keep in mind all of the biggest companies like Google and Facebook, makes the most money from ads and the only way they can sell most of them is using the data provided by their users. If you control the data the advertisers are forced to work with you. What do you think, is Samsung is really planning to do this? Is project like Lympo are setup for tremendous growth? (Not shilling but what your honest opinion)  Have you seen any company taking steps to insure to be on top of the 4th industrial revolution? Please share more information on the future tech and how blockchain-based solutions may play a part in it. Thanks in advance! 

[Wexnident]

Everyone knows that the 4th industrial revolution has to be data-driven and the biggest tech companies are racing to position them selfs for more data-oriented businesses, but given the fact that data storage is the biggest issue for them, blockchain can find itself very useful in this situation. One of the biggest things to watch out for in the coming years would be companies that align them selfs with the crypto community or are developing a blockchain of their own. For example, Samsung is one of the biggest phone producers in the world, more and more people are using phones as they go compared to a pc. Imagine implementing a hardware wallet to make your own blockchain network. Making it more secure and positioning your self „storing“ or controlling all of the input data from a phone.
This could be a new internet, without the problem of building huge servers to store the data for business applications. It could be stored on your phone on your hardware wallet nice and safe! Link to a Samsungs new hardware wallet for crypto (https://www.coindesk.com/samsung-at-last-adds-bitcoin-functionality-to-its-blockchain-phones)
Vice President of Samsung Electronics, Joowan Kim,  who is also in charge of major mobile service strategy and business development just announced a partnership with a blockchain company called Lympo which has been building a data platform based on health trackers and fitness activity (https://www.youtube.com/watch?v=AenafGYSrho&t=) (have your English subtitles on). The most important aspect of it is that using Lympo you can choose if you what to store your data safely or you can monetize it. I think the future will be based on voluntary data exposure, imagine if all of the phones on the market are stealing your data and selling them to the biggest bidder (kinda like now) and you can choose to keep it safe or monetising it for your self, getting rewards from it. The choice is clear! It looks like Samsung is looking in too that direction partnering up with blockchain data platform companies like Lympo and building a new internet based on safeguarding your data on a hardware wallet, most important giving you the choice of selling your own data, making you own it. In that case, making Samsung one of the biggest sellers of data. Keep in mind all of the biggest companies like Google and Facebook, makes the most money from ads and the only way they can sell most of them is using the data provided by their users. If you control the data the advertisers are forced to work with you. What do you think, is Samsung is really planning to do this? Is project like Lympo are setup for tremendous growth? (Not shilling but what your honest opinion)  Have you seen any company taking steps to insure to be on top of the 4th industrial revolution? Please share more information on the future tech and how blockchain-based solutions may play a part in it. Thanks in advance! 

Blockchain in itself has a huge part to play in the 4th industrial revolution. With its decentralized transactions, banks would go down and be replaced with it. Plus, with the recent news of how development of quantum computers is progressing, you can guess already how blockchain coupled with quantum computers would dominate the 4th industrial revolution. There's also the probable release of SWIFT with how Japan pushes for international network for cryptocurrency payments. That also shows how blockchain is already a large part of the upcoming revolution

[CryptoBry]

We are now in the era where data is considered as the new oil and anybody on the control of data can make good money out of them. No wonder why data is becoming a highly regulated commodity as the government is stepping in to the game making sure that rules are being followed in the gathering and utilization of data. Now, blockchain technology is coming at just the opportune time as this technology can be revolutionizing everything on data and the way we are using them.

Things are falling into right places. The revolution of the internet starting the spark of the 4th revolution as this is paving the way for new technologies to be developed and be implemented. This can be the reason why the internet was called as the information super highway. Now, we are on the verge of another big revolution with the blockchain technology at the helm. It would not be a big surprise why big and famous companies are now staking their future with the use of the blockchain and even with cryptocurrency because they already have a clear vision of the future that we are now creating.

[teosanru]

Industrial Revolution is basically an overhaul change/ revolution in the mechanism of industries and ways of producing goods and services. As far as I know blockchain is a wonder of the world which has the capabilities of secured storage and transmission of data. As you are saying that 4th revolution could be data driven then I think we already our experiencing such revolution even without inculcating blockchain properly. I mean you must have heard of UX designing or analytics. Every key and click on our keyboard is tracked down by the major internet giants who use this information for broadcasting of services of the users paying for advertising. I think this already has given a 4th Industrial Revolution. Blockchain can't be directly linked to production processes and industries but yes with higher adoption of blockchain data storage and transfer could become really easy.

We are now in the era where if data is considered as the new oil and anybody on the control of data can make good money out of them. No wonder why data is becoming a highly regulated commodity as the government is stepping in to the game making sure that rules are being followed in the gathering and utilization of data. Now, blockchain technology is coming at just the opportune time as this technology can be revolutionizing everything on data and the way we are using them.

Things are falling into right places. The revolution of the internet starting the spark of the 4th revolution as this is paving the way for new technologies to be developed and be implemented. This can be the reason why the internet was called as the information super highway. Now, we are on the verge of another big revolution with the blockchain technology at the helm. It would not be a big surprise why big and famous companies are now staking their future with the use of the blockchain and even with cryptocurrency because they already have a clear vision of the future that we are now creating.

Nice Comparison Data is the new oil of 21st Century one who owns it, controls it & can use it in a way to sell services and products can become King soon.

[dothebeats]

IMO, the 4th industrial revolution already began upon the widespread use of the internet, sans the idea of blockchain and other newly-found ideas of today. Today's society is characterized by past-faced movements of people, data and money, and the internet satisfies and arranges just that. With blockchain, I think it only facilitates one aspect of the revolution and that is sorting and managing data effectively and securely, a much needed component if we are to digitize everything we know. Also, the blockchain still needs the aid of the internet, and cannot stand alone without the core concept of being connected to any other computer/network in order to build up the integrity of the blocks of data it will be storing.

[alyssa85]

IMO, the 4th industrial revolution already began upon the widespread use of the internet, sans the idea of blockchain and other newly-found ideas of today.

But blockchain is part of the internet - it solves a problem that only the internet poses, which is "how do you make sure digital money isn't spent twice". It's essentially designed to be cash on the internet. Remember, till bitcoin and blockchain payments on the net had to go through two monopolies: Visa and Mastercard. Whereas in the real world of bricks and mortar you can spend cash. Blockchain is designed to be the cash element of the internet and complete the revolution. We are at early stages because it's still cumbersome to use.

[Cnut237]

Digital money that can be transferred easily and cheaply is overdue. Cash is on the way out, and bank cards really are more relevant to an era of national economies. The world has been a global economy for a long time now, and something like bitcoin is I think a solution that is long overdue. Of course blockchain has uses beyond the solution to the above. Security and immutability are prime concerns now as we fully embrace a digital world. Blockchain will I think be vitally important in the coming years.

[Yatsan]

Everyone knows that the 4th industrial revolution has to be data-driven and the biggest tech companies are racing to position them selfs for more data-oriented businesses, but given the fact that data storage is the biggest issue for them, blockchain can find itself very useful in this situation. One of the biggest things to watch out for in the coming years would be companies that align them selfs with the crypto community or are developing a blockchain of their own. For example, Samsung is one of the biggest phone producers in the world, more and more people are using phones as they go compared to a pc. Imagine implementing a hardware wallet to make your own blockchain network. Making it more secure and positioning your self „storing“ or controlling all of the input data from a phone.
This could be a new internet, without the problem of building huge servers to store the data for business applications. It could be stored on your phone on your hardware wallet nice and safe! Link to a Samsungs new hardware wallet for crypto (https://www.coindesk.com/samsung-at-last-adds-bitcoin-functionality-to-its-blockchain-phones)
Vice President of Samsung Electronics, Joowan Kim,  who is also in charge of major mobile service strategy and business development just announced a partnership with a blockchain company called Lympo which has been building a data platform based on health trackers and fitness activity (https://www.youtube.com/watch?v=AenafGYSrho&t=) (have your English subtitles on). The most important aspect of it is that using Lympo you can choose if you what to store your data safely or you can monetize it. I think the future will be based on voluntary data exposure, imagine if all of the phones on the market are stealing your data and selling them to the biggest bidder (kinda like now) and you can choose to keep it safe or monetising it for your self, getting rewards from it. The choice is clear! It looks like Samsung is looking in too that direction partnering up with blockchain data platform companies like Lympo and building a new internet based on safeguarding your data on a hardware wallet, most important giving you the choice of selling your own data, making you own it. In that case, making Samsung one of the biggest sellers of data. Keep in mind all of the biggest companies like Google and Facebook, makes the most money from ads and the only way they can sell most of them is using the data provided by their users. If you control the data the advertisers are forced to work with you. What do you think, is Samsung is really planning to do this? Is project like Lympo are setup for tremendous growth? (Not shilling but what your honest opinion)  Have you seen any company taking steps to insure to be on top of the 4th industrial revolution? Please share more information on the future tech and how blockchain-based solutions may play a part in it. Thanks in advance! 

Blockchain in itself has a huge part to play in the 4th industrial revolution. With its decentralized transactions, banks would go down and be replaced with it. Plus, with the recent news of how development of quantum computers is progressing, you can guess already how blockchain coupled with quantum computers would dominate the 4th industrial revolution. There's also the probable release of SWIFT with how Japan pushes for international network for cryptocurrency payments. That also shows how blockchain is already a large part of the upcoming revolution

Blockchain would help the financial system in industrial revolution but banks would not let cryptocurrency take over them and so the government. Decentralized system is scary where the core of the society is speculation and theory. Blockchain should be adopted in a well manner, where there will be halfway for purpose and efficiency rather than just speed of transactions. Japan are trying to provide an international network for cryptocurrency like SWIFT that is used by banks to avoid frauds but Japan stated that it is still unclear how the network would work and so proposing and testing are still on process. Blockchain will level up the ongoing revolution as it is applicable on various fields not only in terms of financial and security.

[alyssa85]

Blockchain would help the financial system in industrial revolution but banks would not let cryptocurrency take over them and so the government. Decentralized system is scary where the core of the society is speculation and theory. Blockchain should be adopted in a well manner, where there will be halfway for purpose and efficiency rather than just speed of transactions. Japan are trying to provide an international network for cryptocurrency like SWIFT that is used by banks to avoid frauds but Japan stated that it is still unclear how the network would work and so proposing and testing are still on process. Blockchain will level up the ongoing revolution as it is applicable on various fields not only in terms of financial and security.

I don't think banks really care. They make their money by charging interest on lending.

Blockchain doesn't interfere with that at all, instead it makes the movement of money cheaper.

It's governments who don't like blockchain (because it usurps the govt's function of being the sole issuer of money).

[jake zyrus]

We are now in the fourth industrial revolution phase where technological innovation and development is rampant. Almost everyone uses gadgets, and that's one of thing about it. When we become more dependent and attracted to technologies, we tend to give more for our information without us knowing that they can monitor every user and gather data about them. Since they are giant companies, we entrust them when it comes to our information. As for the ads, what I know is that they can monitor our activities and what we like the most, they will show ads regarding that. I believe they won't just give or sell other information that may lead to something bad to their users.

[lionheart78]

Among those wall of text, I think OP wanted to discuss is about this :

What do you think, is Samsung is really planning to do this? Is project like Lympo are setup for tremendous growth? (Not shilling but what your honest opinion)  Have you seen any company taking steps to insure to be on top of the 4th industrial revolution? Please share more information on the future tech and how blockchain-based solutions may play a part in it. Thanks in advance! 

Every IEO/ICO created on this forum wanted to take part if not to be on top of that 4th Industrial revolution.  I do not think Lympo project is that especial.  I have seen several projects that utilizes data and monetized it.  Check Bittorent, Datum, Cova UNity, DatabrokerDAO, etc.  I am sure the stated company/project aims to be on the top of the 4th industrial revolution.

[Cryptocnnon485]

Among those wall of text, I think OP wanted to discuss is about this :

What do you think, is Samsung is really planning to do this? Is project like Lympo are setup for tremendous growth? (Not shilling but what your honest opinion)  Have you seen any company taking steps to insure to be on top of the 4th industrial revolution? Please share more information on the future tech and how blockchain-based solutions may play a part in it. Thanks in advance! 

Every IEO/ICO created on this forum wanted to take part if not to be on top of that 4th Industrial revolution.  I do not think Lympo project is that especial.  I have seen several projects that utilizes data and monetized it.  Check Bittorent, Datum, Cova UNity, DatabrokerDAO, etc.  I am sure the stated company/project aims to be on the top of the 4th industrial revolution.

I am aware of the other projects, but for how I look at this situation Lympo is not only monetizing data but is creating a safe data platform from which you can choose if you what to get money from your own data or keep it safe. This might extend to other information gathering sources for Samsung. Like downloaded phone apps, cookies, messages and data (photos) transmitted to other users for communication purposes on the BLOCKCHAIN. Making it not only secure but using the user's permission could be monetized. I think this is just the beginning for Samsung, a trial if you will. If this partnership would eald any progress they might expand to other sources and for them, it would be easy, they already have a lot of users and preinstalled Samsungs apps, which already have a lot of traffic. And as you say there is a lot of other projects they can partner up and connect to their current customer base.

I have been observing a lot of big tech giants getting into crypto and blockchain-based space and most of them are big flops like Facebook's libra has been dropped by Paypal (https://www.coindesk.com/paypal-withdraws-from-facebook-led-libra-crypto-project)
Nike's blockchain implementation attempts look like garbage (https://thenextweb.com/blockchain/2019/04/25/nikes-cryptokicks-trademark-application-hints-at-its-new-blockchain-ambitions/)
But looking into Samsungs potential and their implemented hardware wallets in their phones, which will increase whit each year. This new partnership with Lympo looks promising and from a strategic point of view crucial for the 4th industrial revolution in dominating data collecting and implementation for business applications.
As a crypto entusiast I like learn more about projects like Lympo, what are other projects that in your opinion can lead crypto space to inovate for the 4th industrial revolution. Would like to hear more from you and what you think about the future tech

[Cryptocnnon485]

Everyone knows that the 4th industrial revolution has to be data-driven and the biggest tech companies are racing to position them selfs for more data-oriented businesses, but given the fact that data storage is the biggest issue for them, blockchain can find itself very useful in this situation. One of the biggest things to watch out for in the coming years would be companies that align them selfs with the crypto community or are developing a blockchain of their own. For example, Samsung is one of the biggest phone producers in the world, more and more people are using phones as they go compared to a pc. Imagine implementing a hardware wallet to make your own blockchain network. Making it more secure and positioning your self „storing“ or controlling all of the input data from a phone.
This could be a new internet, without the problem of building huge servers to store the data for business applications. It could be stored on your phone on your hardware wallet nice and safe! Link to a Samsungs new hardware wallet for crypto (https://www.coindesk.com/samsung-at-last-adds-bitcoin-functionality-to-its-blockchain-phones)
Vice President of Samsung Electronics, Joowan Kim,  who is also in charge of major mobile service strategy and business development just announced a partnership with a blockchain company called Lympo which has been building a data platform based on health trackers and fitness activity (https://www.youtube.com/watch?v=AenafGYSrho&t=) (have your English subtitles on). The most important aspect of it is that using Lympo you can choose if you what to store your data safely or you can monetize it. I think the future will be based on voluntary data exposure, imagine if all of the phones on the market are stealing your data and selling them to the biggest bidder (kinda like now) and you can choose to keep it safe or monetising it for your self, getting rewards from it. The choice is clear! It looks like Samsung is looking in too that direction partnering up with blockchain data platform companies like Lympo and building a new internet based on safeguarding your data on a hardware wallet, most important giving you the choice of selling your own data, making you own it. In that case, making Samsung one of the biggest sellers of data. Keep in mind all of the biggest companies like Google and Facebook, makes the most money from ads and the only way they can sell most of them is using the data provided by their users. If you control the data the advertisers are forced to work with you. What do you think, is Samsung is really planning to do this? Is project like Lympo are setup for tremendous growth? (Not shilling but what your honest opinion)  Have you seen any company taking steps to insure to be on top of the 4th industrial revolution? Please share more information on the future tech and how blockchain-based solutions may play a part in it. Thanks in advance! 

Blockchain in itself has a huge part to play in the 4th industrial revolution. With its decentralized transactions, banks would go down and be replaced with it. Plus, with the recent news of how development of quantum computers is progressing, you can guess already how blockchain coupled with quantum computers would dominate the 4th industrial revolution. There's also the probable release of SWIFT with how Japan pushes for international network for cryptocurrency payments. That also shows how blockchain is already a large part of the upcoming revolution

(https://www.engadget.com/2019/07/18/cryptocurrency-bitcoin-swift-japan/?guccounter=2)
"Now Reuters reports, based on anonymous sources, that the country's government is at the lead of an effort to create a SWIFT-style system to manage cryptocurrency payments and supposedly battle money laundering."
(https://www.investopedia.com/articles/personal-finance/050515/how-swift-system-works.asp)

Reading more about it how it works. I think they might go with a closed type of blockchain for in bank transactions or they might migrate to the native hardware model I have described in the original text(using phone implemented hardware wallets and encryption). Or I am wrong? I would like to hear your take on it!

[hatshepsut93]

Every IEO/ICO created on this forum wanted to take part if not to be on top of that 4th Industrial revolution.  I do not think Lympo project is that especial.  I have seen several projects that utilizes data and monetized it.  Check Bittorent, Datum, Cova UNity, DatabrokerDAO, etc.  I am sure the stated company/project aims to be on the top of the 4th industrial revolution.

Every ICO/IEO on this forum wanted to scam investors by running away with their money, simple as that. Few if any developers actually care about making a successful project. Just look at ICO ANN's from 1-2 years ago, and check where they are now - you'll notice that almost every single one of them has been abandoned, and the price of their token went to almost zero.

[MonsterV]

Blockchain would help the financial system in industrial revolution but banks would not let cryptocurrency take over them and so the government. Decentralized system is scary where the core of the society is speculation and theory. Blockchain should be adopted in a well manner, where there will be halfway for purpose and efficiency rather than just speed of transactions. Japan are trying to provide an international network for cryptocurrency like SWIFT that is used by banks to avoid frauds but Japan stated that it is still unclear how the network would work and so proposing and testing are still on process. Blockchain will level up the ongoing revolution as it is applicable on various fields not only in terms of financial and security.

I don't think banks really care. They make their money by charging interest on lending.

But development crypto will continue not only to become a currency, it could be that in  future blockchain and crypto technology will be able to get rid of  bank loan system. Therefore, many banks do not approve of crypto, because they are also worried that people will not keep their money in  bank and keep in mind that banks do not live on loans but on  savings of customers who are playing.

Blockchain doesn't interfere with that at all, instead it makes the movement of money cheaper.

It's governments who don't like blockchain (because it usurps the govt's function of being the sole issuer of money).

In my opinion the government does not need to worry about that, if they cannot print money but they still have full authority in managing digital money. Well like a centralized crypto, they still have regulations and are supervised.

[Harlot]

I wouldn't say that it would be a industrial revolution especially when the only affected entities are just big corporations taking advantage of the blockchain technology. Although its clear to me that Blockchain is ahead by a few steps from cryptocurrencies if you really want an industrial revolution to happen you should look for the mass adoption that will happen with cryptocurrencies as this would affect everyone not just corporations having their own versions of blockchain. Could you imagine a world that a lot of establishments are accepting cryptocurrencies? This would just signify a change in the economy and the world as we know it, we now have a good alternative for credit cards and debit cards as well as Paypal to pay goods and services.

[Cryptocnnon485]

Industrial Revolution is basically an overhaul change/ revolution in the mechanism of industries and ways of producing goods and services. As far as I know blockchain is a wonder of the world which has the capabilities of secured storage and transmission of data. As you are saying that 4th revolution could be data driven then I think we already our experiencing such revolution even without inculcating blockchain properly. I mean you must have heard of UX designing or analytics. Every key and click on our keyboard is tracked down by the major internet giants who use this information for broadcasting of services of the users paying for advertising. I think this already has given a 4th Industrial Revolution. Blockchain can't be directly linked to production processes and industries but yes with higher adoption of blockchain data storage and transfer could become really easy.

We are now in the era where if data is considered as the new oil and anybody on the control of data can make good money out of them. No wonder why data is becoming a highly regulated commodity as the government is stepping in to the game making sure that rules are being followed in the gathering and utilization of data. Now, blockchain technology is coming at just the opportune time as this technology can be revolutionizing everything on data and the way we are using them.

Things are falling into right places. The revolution of the internet starting the spark of the 4th revolution as this is paving the way for new technologies to be developed and be implemented. This can be the reason why the internet was called as the information super highway. Now, we are on the verge of another big revolution with the blockchain technology at the helm. It would not be a big surprise why big and famous companies are now staking their future with the use of the blockchain and even with cryptocurrency because they already have a clear vision of the future that we are now creating.

Nice Comparison Data is the new oil of 21st Century one who owns it, controls it & can use it in a way to sell services and products can become King soon.

Thanks for the reply! You are right the 4th industrial revolution had already begun Since this is a forum for blockchain and crypto, Do you see companies like Lympo leading the way forward for the rest of the community? If you seen any other crypto projects with that much potential please share! 

[beerlover]

I think people are forgetting that humanity has been able to wire money to each other with ease for a long long time now.
People think thanks to bitcoin everyone will be able to send money to each other globally but that has been something possible for the past 20+ years now.

Yeah, bitcoin makes it easier but with the improvements in banking it will become much simpler without crypto as well. Someone in Japan will be able to work with an Estonian company and pay them via bank wires and get their item. Not cash, not credit card, not crypto, just wire money from one bank account to another.

I know a guy who manufactures some items for funfairs and dude sells like 100k euro worth of stuff each time and he has constant orders so whenever one of his jobs ends another starts and dude just gets his money wired to him for the past decade or so, it is not as hard as people imagine it would be.

[magneto]

I think that it'll be either driven by decentralisation and/or the use of blockchain. It's quite unclear right now though whether or not the two of the aforementioned movements will be done in conjunction with one another, or independently.

For example, banks may start using blockchain as a means of data keeping and recording transactions. However, they may not be moving towards a decentralised money supply for obvious reasons.

Vice versa, society might move towards decentralisation and create a paradigm shift, but may do so with a different means like DAG. I doubt this will happen because of what bitcoin offers already, especially with LN which offers more scalability, but it's a remote possibility.

[Cnut237]

I think people are forgetting that humanity has been able to wire money to each other with ease for a long long time now.
People think thanks to bitcoin everyone will be able to send money to each other globally but that has been something possible for the past 20+ years now.

Yeah, bitcoin makes it easier but with the improvements in banking it will become much simpler without crypto as well. Someone in Japan will be able to work with an Estonian company and pay them via bank wires and get their item. Not cash, not credit card, not crypto, just wire money from one bank account to another.

I know a guy who manufactures some items for funfairs and dude sells like 100k euro worth of stuff each time and he has constant orders so whenever one of his jobs ends another starts and dude just gets his money wired to him for the past decade or so, it is not as hard as people imagine it would be.

A good point, but this can be extended and improved by blockchain. I'm thinking specifically of smart contract platforms here. Ethereum for example could be used to write contracts that stipulate that the money is sent whenever a certain set of conditions is fulfilled. So at the moment I would imagine the wiring of money is done with a lot of manual intervention, but in the future we can use smart contracts on blockchain to increase speed and efficiency and drive down costs. And really we are not just speeding up the process and making it more secure, we are also improving accuracy, we are creating a consensus immutable record for traceability, and we are eliminating (or at least minimising) any manual intervention and its associated costs and delays.