Mutuality, decentralization, and credit, 150 years ago

The dream to revolutionize finance via disintermediation and banking the unbanked might be in the news today. But the very ideas that drive our rethinking the basic concepts of credit, trust and governance are far from new.

A short history of innovation

A story about new combinations of old inputs and about getting things done, Austrian riding habits, VHS vs Beta, a bunch of brash young economics professors, the browser wars, the hangover after the dot com bust. And about dusting oneself off and starting over, this time a bit leaner.

Frankfurt: A story of path dependency

It’s funny how Frankfurt, which became Germany’s global banking center after World War II, carries this fact already in its name: the ford the Franks used to cross the Main (sic) river to trade with the Romans. The tribe they would eventually supplant as the dominating European power.