So
why
aren’t
companies
and
individuals
moving
their
transactions
on-chain,
then?
They
are,
but
slowly.
An
entire
ecosystem
of
financial
services
is
emerging
on-chain,
including
companies
like
Franklin
that
can
handle
payroll
in
both
on-chain
and
off-chain
environments,
and
at
lower
costs
than
traditional
providers.
The
effects
of
inertia
are
even
larger
in
the
business
space
than
with
consumers,
and
blockchains
still
lack
key
features
like
robust
levels
of
regulatory
compliance,
mature
fraud
prevention
analytics,
and
importantly,
privacy.
These
gaps
are
not
deal
breakers;
they
are
just
speed
bumps.
I
get
pitched
on
one
blockchain
security
solution
a
week
and
many
smaller
banks
are
eyeing
deep
integration
with
on-chain
finance
as
a
key
differentiator.
The
programmability
of
blockchains
means
that
missing
features
are
easy
to
add,
and
Moore’s
Law
means
that
implementing
those
features
gets
cheaper
every
year.
