Would blockchain have blocked Wells Fargo’s misconduct?
It’s been over a year since the Wells Fargo banking scandal came to light. Currently, Wells Fargo estimates their employees opened 3.5 million unauthorized accounts. In response, the bank’s leadership continues to be criticized by leading politicians and Wells Fargo has yet to fully recover from the scandal.There are lingering questions, too, if technology could have helped prevent the opening of fraudulent accounts at the bank. Or do financial institutions need do undergo fundamental cultural change?On one level, Christian Catalini, a professor at MIT, said blockchain technology “could have made it easier to spot that these accounts were not being opened by the consumers behind them.” continue reading » 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr