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Larry Summers: 'Overwhelmingly likely' this will change finance forever
It is "overwhelmingly likely" that the financial industry will adopt uses for the technology underpinning bitcoin, former Treasury Secretary Larry Summers said. "I'm reasonably confident ... that the blockchain will change a great deal of financial practice and exchange," he said Tuesday from the Consensus 2016 event in midtown Manhattan, adding that his bet on the future of finance would see "40 years from now, blockchain and all that followed from it will figure more prominently in that story than will bitcoin." Summers referred to blockchain technology's ability to reduce inefficient frictions during asset ... (full story)