kaal:claim:3409548-023

Legacy systems at private investment funds and banks are more expensive, more error prone, and slower than emerging blockchain technologies, a gap illustrated by the $1.7 trillion in processing fees banks charged in 2014.

Source quote, verbatim
Most legacy systems at private investment funds and banks are much more expensive than emerging blockchain technologies, are subject to human error, and take much more time. Banks charged $1.7 trillion in processing fees in 2014.
From

Kaal, Financial Technology and Hedge Funds (2019), III. Impact of Technology on the Hedge Fund Industry, p. 21
https://ssrn.com/abstract=3409548 · source PDF

Cite as

Kaal, Financial Technology and Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3409548

Holds when
Classification

empiricalsupport: evidencedblockchaineconomicssystemic-risk

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