Sponsored by CNBC and the prestigious Singularity University, the Exponential Finance 2015 took place in New York City on June 2 and 3.
The Singularity University is an educational center dedicated to high-impact, world-changing applications of disruptive, exponentially accelerating technologies. Exponential Finance 2015 examined how rapidly accelerating technologies such as artificial intelligence, quantum computing, crowdfunding, digital currencies, and robotics are rapidly disrupting businesses throughout the financial industry.
The Singularity University’s news portal Singularity Hub published a conference wrap-up titled “Exponential Finance: Who Will Be the Instagram or Uber of Finance?” Instagram and Uber are examples of what Peter Diamandis, co-founder and executive chairman of Singularity University, calls the disruptive potential of digital technology.
“Instagram was acquired for a billion dollars the same year Kodak went bankrupt,” writes Jason Dorrier. “Uber is a five-year-old transportation company worth $40 billion, and they don’t own a single car or bus.”
According to Diamandis, the blockchain will spark similarly disruptive innovations.
“At its core, bitcoin is a smart currency, designed by very forward-thinking engineers,” said Diamandis. “It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions