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Published on Jul 7, 2014
The financial system is broken on multiple levels, but that does not necessarily mean it is not irreparable, says complexity scientist James Glattfelder. "I'm not trying to say we can't solve complicated problems in a complicated world, but we need to use humility." Subscribe to WIRED ►► http://po.st/SubscribeWired
What we will need, he tells the audience at Wired Money 2014, is a huge paradigm shift to replace the traditional model with a hands-on data interaction model.
"I really believe we have created systems that we don't understand and cannot control yet," he says. "The first place to start is to admit there is a problem."
Wired Money is a one-day summit that explores the future of finance. The event was launched in recognition of the fact that financial services -- from online payments to transferring money -- are broken. And where a problem exists, so entrepreneurs step in to create efficiencies. Wired Money brings together the new breed of startups taking on the incumbents and the bold thinkers rewriting the rules of money -- from digital currencies and online reputation to mobile money and digital wallets.
ABOUT WIRED WIRED brings you the future as it happens - the people, the trends, the big ideas that will change our lives. An award-winning printed monthly and online publication. WIRED is an agenda-setting magazine offering brain food on a wide range of topics, from science, technology and business to pop-culture and politics.