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The report notes the existence of DACs in section 3.4.6.http://www.ericsson.com/industry-transformation/wp-content/uploads/sites/6/2014/11/ict-and-the-future-of-financial-services.pdfQuoteConclusions:The financial services industry is exhibiting some earlyindicators of potentially dramatic industrial disruption.With the advent of cryptocurrencies and associatedunderlying protocols and APIs, there is an emergingpotential for highly decentralized networks of peopleand even machines to collaborate and coordinate notjust for financial outcomes but in order to create entirelynew financial structures themselves. From enablingindividuals to coordinate and finance new venturesvia crowdfunding to permitting people to create newbanks, insurance mechanisms and financial methodsfor the sharing economy, ICT provides the potentialto disrupt not just Financial Services, but the foundationsof capitalism itself....More significant digital transformation is emerging,however, through the increasing use and functionalityof cryptocurrencies, which redefine the basis oftrust and governance of currencies in our society. Ineffect, they offer consumers the ability to take thefinancial services industry into their own hands andbuild innovative services that can compete with thelargest banks and financial services companies. Duein part to the level of distrust towards the financialsystem after multiple crashes, these digital innovationsmay offer attractive alternatives for many customers.Incumbents and regulators alike must therefore carefullyassess their role with regards to these emergingtechnologies....
Conclusions:The financial services industry is exhibiting some earlyindicators of potentially dramatic industrial disruption.With the advent of cryptocurrencies and associatedunderlying protocols and APIs, there is an emergingpotential for highly decentralized networks of peopleand even machines to collaborate and coordinate notjust for financial outcomes but in order to create entirelynew financial structures themselves. From enablingindividuals to coordinate and finance new venturesvia crowdfunding to permitting people to create newbanks, insurance mechanisms and financial methodsfor the sharing economy, ICT provides the potentialto disrupt not just Financial Services, but the foundationsof capitalism itself....More significant digital transformation is emerging,however, through the increasing use and functionalityof cryptocurrencies, which redefine the basis oftrust and governance of currencies in our society. Ineffect, they offer consumers the ability to take thefinancial services industry into their own hands andbuild innovative services that can compete with thelargest banks and financial services companies. Duein part to the level of distrust towards the financialsystem after multiple crashes, these digital innovationsmay offer attractive alternatives for many customers.Incumbents and regulators alike must therefore carefullyassess their role with regards to these emergingtechnologies....