Welcome to issue 41 of the Capco Journal of Financial Transformation. In this issue we focus on the existential crisis embroiling finance. Our lead article, by Kim Wales, Regulation and cyberfinance: A new economic revolution liberating financial markets? Seeks to answer some of the questions driving this debate: What is currency? What is value? What is a business? What is a bank, even?
In addition we explore topics at the heart of the major transformational opportunities available to the financial system from regulatory reform and a framework for capital management to an original view of the Basel accords where we apply bargaining theory to the formation of international financial regulation.