“When comparing the evolution of payments in the United States with ancient Egyptian history, one might conclude the Egyptians were further ahead in the development of their culture than the United States has been in advancing a modern payments system.
In early September, the Federal Reserve announced its decision to proceed with the development of a new payments vision. The exact timeline for the completion of the vision has yet to be determined, but observers anticipate it could take eight to 10 years to complete.
In contrast, the earliest known Egyptian pyramids were constructed between 2630 and 2611 BCE. Considering the tens of thousands of laborers required to manually complete the construction in just 19 years, a 10-year horizon for a new payments vision, using modern technology tools, should produce the eighth wonder of the world!”
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