mission

Joined up thinking

At one time there was quill and parchment. Today, most accounting uses some kind of digital platform. Yet for all the noise made about accounting moving to the cloud, the real prize for our economy from all this innovation is in danger of being overlooked. It took the Cruickshank Report of 2000 for the UK government to prod the banking industry into creating what became the Faster Payments network. Up to that point the status quo had sufficient inertia that the needs of the broader economy were being overlooked.

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technology

Why we don't use blockchain

When we were roughing out the initial technical design of the core Bmbix service, we gave blockchain technology due consideration. Ultimately we felt that it was overkill for our use cases. We have written this article because it is a question we are often asked — why doesn’t Bmbix use blockchain technology. Our understanding at the time was that the strengths of blockchain technology lay in no-central-authority and non-repudiation of transactions.

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