A population roughly one tenth the size of Luxembourg's
gathered in Lisbon, Portugal last week for the 2016 Web
Summit. It was a neutral ground for start-ups, tech giants, and the
old guard to come together and discuss technological changes and
visions. But back in the real world these factions are in constant
battle as they vie for customers. How should Luxembourg's
existing financial players position themselves for the coming 5-10
years?
You've GAFA be kidding me
Google, Amazon, Facebook, and Apple ("GAFA") are
giants whose bankable achievement has essentially been winning
enormous databases. Google can catalogue their users' search
activity, Amazon purchases, Facebook demographics, and Apple media
preferences (to oversimplify). The data thus wielded opens up a
host of other business directions, which is why when Google talks
about AR, or Apple about payment, people listen. In the finance
world these database powerhouses could pose a threat to incumbents
and
