This is where the coordination failures happen. What is an order book technology change? The rotary,steam press making standardized parts lists available to all.
Then came telegraph, and detailed pre-ordering.
This big coordination failure of 1929 was the sudden, unexpected broadcast technology. Radio networks appeared and within six months they were broadcasting the orderbook, nationwide.
We then gottelevision then the web.
The one in 2018 s much bigger, and we have to be careful. The biggest change is property law, everything reverts back to a personal contract with a thumb print. This is all but certain after the Equifax hack.
The next biggest change is that our bots organize and collect the order book under a search command, by us. It is all as visible and controllable as we want, up to the bot interface. Any pricing action requires bot patrol, no humans directly involved.
Time is handled differently. I the smart layer it is an insurance function. In autocash time is a timeout queue, and treated like any other congestion. The pits can queue and price timeouts against any betters. Timeouts still have contract value, they still revert back to a thumb print. The fails to deliver classifications can be broad and diverse.
No comments:
Post a Comment