There are items news that seem to suggest that London is trying to be the Financial Technology capital of the World.
London's Advantages could be:
Time Zone advantage
Strategic Location
Geopolitical advantage of markets being open even as American markets open.
Closer to Asia
Transatlantic flights getting cheaper.
At the heart of the World- European yet out of euro zone.
Currency neutral.
Language
Yet, London cannot match the technology learning experiences of Silicon Valley.
Silicon Valley has been quite decades on the technology learning curve; New York and Wall Street have been on additive learning curves. So the loops of learning converge despite physical distance.
London(UK) may further find it unable to match the research inclinations of the US universities.
It cannot match the entrepreneurship of the immigrant engineers into USA both hardware and software.
The London financial center seems to be under the pressure of valueless bankers who have a host of misdeeds - from mis-selling products to rigging LIBOR. There are serious flaws in the financial sector of London that might see the discerning banker holding back.
In the Internet of Things, technology will lead and finance will follow. As connectivity and networking are primarily computer technology driven, and there is death of distance in the regime of IoT, London's hopes to be a fintech capital seems a case of undue optimism. In a digitized world, all we need is the internet. Click and mortar finance is long out of fashion.
Without risk or responsibility.
London's Advantages could be:
Time Zone advantage
Strategic Location
Geopolitical advantage of markets being open even as American markets open.
Closer to Asia
Transatlantic flights getting cheaper.
At the heart of the World- European yet out of euro zone.
Currency neutral.
Language
Yet, London cannot match the technology learning experiences of Silicon Valley.
Silicon Valley has been quite decades on the technology learning curve; New York and Wall Street have been on additive learning curves. So the loops of learning converge despite physical distance.
London(UK) may further find it unable to match the research inclinations of the US universities.
It cannot match the entrepreneurship of the immigrant engineers into USA both hardware and software.
The London financial center seems to be under the pressure of valueless bankers who have a host of misdeeds - from mis-selling products to rigging LIBOR. There are serious flaws in the financial sector of London that might see the discerning banker holding back.
In the Internet of Things, technology will lead and finance will follow. As connectivity and networking are primarily computer technology driven, and there is death of distance in the regime of IoT, London's hopes to be a fintech capital seems a case of undue optimism. In a digitized world, all we need is the internet. Click and mortar finance is long out of fashion.
Without risk or responsibility.
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