[FoRK] throughput vs latency

Dave Long dave.long at bluewin.ch
Thu Jun 23 00:22:00 PDT 2016


> Banking already has the situation where transactions might be in  
> flight outside of the system, so it
> actually doesn't change things much.


Indeed, Luca Pacioli lived in the XV, when I presume transactions  
might have taken weeks or months, depending upon travel times and  
weather, to settle.

I'm only old enough to remember when banks settled daily*, but I'm  
still having a difficult time imagining what advantages (other than  
generating demand for h/w manufacturers?) hourly or even second-by- 
second settlement has brought.

In order to temper my cynicism, might any of you all have any examples?

-Dave

* and this is probably still true for international, down from T+3?   
My bank offers a rebate on cross-currency transfers which can be  
delayed a day or two, presumably allowing them to do the bankers'  
equivalent of write-combining bus transactions.



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