iRobot
Member of DD Central
Posts: 1,657
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Post by iRobot on May 20, 2020 10:26:27 GMT
I’m getting old and worried ASMX will be beyond me. I remember talk about blockchain and bitcoin and don’t understand (or want to) any of that. ABLrate have been the best platform by far in my view. Definitely the most innovative and the only ones who had a proper secondary “market”. I’m pretty keen to see what’s next. I wish ABLrate the best and hope that they are one of the few P2P survivors Generally speaking ... If using a new service demands an understanding of the technology behind it, then it's not fit for purpose. There should be no requirement to understand the underlying technology in order to use it. A provider's talk of 'blockthingies' and 'cryptowotsits' may impress some investors and customers. It may even cause some competitors to re-think their plans going forward; participation allows them to jump on the buzz-word bandwagon in an attempt to allay fears (in some of their own investors and customers, and maybe even themselves) that they are being left behind. A new technology could have been adopted with no mention of it whatsoever; the focus could have entirely been on the advantages and new functionality a revised service might provide. What does surprise me is that in adopting new technology and overlaying it on an existing service, I would typically expect costs to be driven down. From the outside looking in, I'd therefore surmise that where ABL had hitherto been both willing and able to absorb costs which ran to £70k pa, it no longer finds itself in a position to do one or both of those things. Final thought ... I agree with your earlier comment, hazellend, that fees - presumably 0.5% if ABL's sums are going to add up - should be on the sell side only.
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Post by ablrate on May 20, 2020 12:51:55 GMT
As we have said, there is no need to understand blockchain, no more than there is a need now to understand Http/ TCIP/ C# ASP.net. But the nature of the two roles being played (roll out of the tech and discussions with investors in the project) inevitably has to mention the underlying technology. It may be a case that no one mentions blockchain in a few years as it will be embedded in many system, but as of now it is something that investors in the business are interested in.
It is not a case of not being to absorb costs (we are still on target to have our most profitable year to date), if the upside benefits justify it (which as a matter of fact we think it will) we may absorb costs in this case, but we also have to maintain a commercial approach to providing a service, as is our obligation to shareholders.
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