currency

I’ve been blogging recently about how APIs are the New Currency. There are many factors in this equation, but one industry literally illustrates the changes I’m describing: financial services.

Companies in this arena have been all over the map in adapting to change. From putting ATMs in non-banking locations to deploying mobile applications, it’s often been a story of resistance followed by embrace. That’s because every change has required relinquishing control, broadening boundaries and taking risks, and for many that’s a tall order.

In my previous blog post, I said that APIs were the New Currency. Well, that triggered some interesting responses from the statusphere, like this one:

“Jordan Elpern-Waxman @mashery doesn't know what currency means. Currency needs liquidity and exchangeability. APIs are valuable but not currency “