Digital Human

The Fourth Revolution of Humanity Includes Everyone

by Chris Skinner

Number of pages: 328

Publisher: Wiley

BBB Library: Economics and Investment, Technology and Globalization

ISBN: 978-1119511854

About the Author

Chris Skinner is known as an independent commentator on the financial markets and fintech through his blog, the, as author of the bestselling books.


Editorial Review

Digital Human is a visionary roadmap for the future, a timely guide on how to navigate the world of finance as we create the next generation of humanity.  It explores the digital evolution’s impact and offers clear insights on thriving in this new era. Human and business relationships are evolving, and existing businesses must undergo substantial transformative changes to compete with the smaller, “lighter,” and more agile companies that are able to quickly maneuver to match shifting consumer demands. A lack of online presence has become unthinkable, as consumer preferences continue to trend heavily toward online business and transactions. Leaders must rethink their businesses to be fit for the future digital age, and this comprehensive resource shines a spotlight on the key elements to this transformation.  

Book Reviews

“Building upon the financial technology themes from his previous books, Chris takes you on an intellectual journey as he methodically thinks through where the technology will take us, humans, next. He imagines a new, open, banking and financial services system tailored for each one of us. He describes how financial inclusion drives innovation, and how it will change financial services as billions of people join the system. I greatly enjoyed this rare and refreshing optimistic vision in which money is implicit, the invisible digital fabric of the internet connecting new platforms and existing companies.”

“Chris’ latest book is a tour-de-force that provides a broad sweep of the incredible changes that are impacting our industry… open banking, platforms, APIs, and machine learning, to name a few. However, it is his articulate postulation that ‘few banks are changing, and if they don’t change they will not survive’ that makes this book a MUST READ for anyone in the financial services industry. And his thoughts on the very basis of value in our economy, and how this could evolve in the fourth revolution make this a great read for the rest of us!”

“Skinner presents a compelling vision of the future of financial services expertly set in ten-thousand years of historical context”

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Wisdom to Share

For the first time in history, the system—the mobile network systems to be exact—is including everyone. This is the remarkable impact of the mobile network of value.

Unlike the Industrial Revolution during which only a limited number of humans gained access to wealth and trade, this digital revolution will give everyone a chance.

Banks are structured around paper but the network is structured around data.

The historical systems of value exchange are still huge but they are becoming a smaller percentage of trade compared with the newest structure we have implemented to allow value to flow.

Africa is leapfrogging other markets by delivering mobile financial inclusion almost overnight.

The fourth age is an age where everything can transfer value, immediately and for an amount that starts at a billionth of a dollar if necessary.

This is all about moving us from vertically integrated control structures to a marketplace of plug-and-play processes that are delivered through platforms.

Open Banking is based on apps, APIs (application program interfaces) and analytics, and offers access for everyone in an open marketplace.

When we look ahead to see what the internet will look like in twenty years, we cannot be certain but, what is clear, is that it will be a consciousness.

With high-frequency trading and other techniques, combined with machine learning and AI, we could eradicate the need for human traders.

John Cryan, the CEO of Deutsche Bank, estimates that half of banking jobs will be lost over the next decade.