‪crypto & defi have failed to change the financial services innovation narrative, mainly because that ecosystem has been overtaken by rank financialization & financial engineering‬ ‪chinese big tech cannot change that narrative because China, different planet, different rules‬. ‪to date US big tech has influenced that narrative at the margin. not making a real dent. choosing to partner rather than attac‬k. ‪all bets are off with one on-going narrative & one announcement.‬ ‪on-going narrative: advertising as a profitable model is under attack (privacy baby)‬ ‪announcement: identity as a service from Apple ‪both will have profound implications for the financial services industry and for innovation thereein‬. #fintech #change #digital #privacy #china #financialservices #banking …see more