How Blockchain Could Help Emerging Markets Leap Ahead

Harvard Business

Much has been made of the potential for blockchain technologies to open up new vistas for business and society. But is there a way for this revolutionary technology to empower the rich and poor alike? How Blockchain Works Here are five basic principles underlying the technology. This in turn boosted development by allowing relatively poor farmers to reliably send and receive payments at affordable rates, fostering economic growth by lowering transaction costs.

Four Steps to Fixing Your Bad Data

Harvard Business Review

As one might expect, officials are using the error and S&P's earlier failure to properly rate bundled mortgage products to argue that the downgrade is incorrect. From falsified mortgage applications and bundles of toxic mortgages, to incorrect credit ratings and balance sheets that couldn't be trusted, the financial crisis is as much about bad data as it is about unfettered greed. Information & technology Operations

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Three Questions to Ask Your Advanced-Analytics Team

Harvard Business Review

Businesses operate in more spheres than ever — in-store, in-person, telephonic, web, mobile, and social channels. The idea is that direct driving behavior over time will be more predictive than traditional proxies such as age, credit rating, or geography. Information & technologyHere's something that senior managers should keep in mind as they launch Big Data initiatives: Advanced analytics is mostly about finding relationships between different sets of data.

Badges? We Don’t Need No LinkedIn Badges

Harvard Business Review

Money became a key element of these trust networks because it was cheaper to trust the money than the credit of a counterparty beyond your clan, village, or tribe. These hacks are things like badges, diplomas, dress codes, and, as it happens, credit ratings. It is happening now because the powerful combination of the mobile phone, the social graph, and new authentication technologies is reducing the cost of using social capital effectively at a transaction level.