[FoRK] throughput vs latency
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?
* 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.
More information about the FoRK