"First, other countries’ edge over us is sometimes due to technology developed first outside the U.S., sometimes to quicker user adoption (something that would probably surprise most Americans), and sometimes to a greater ability to make non-tech organizational adjustments, such as eliminating minimum transaction values on credit cars, to get the tech to work better. Second, there are clearly efficiency benefits to the new technologies -- think only of the decline in hold ups in stores and bank robberies thanks to the disappearance of cash. But there are also benefits in terms of the general social climate for innovation."
Tuesday, April 10, 2018
Banks With No Cash?
In Sweden, according to Steve Kelman here at FCW: ". In what might sound like a joke if it weren’t true, many banks carry no cash on their premises." Kelman is writing about Sweden and China, which he finds to be ahead of the U.S. in some areas of adopting IT: