Preface: Listen to the future of financial transactions transitioning from person to node to the future of person to person. Myron Scholes talks about getting beyond the node for clearing transactions.  

Credits: Peking University, Guanghua School of Management (Beijing, China)— Nobel laureate and Stanford professor Myron Scholes explores the future of finance in Guanghua’s special 30th Anniversary “Thought Leader Series” edition. In this portion of the talk, Myron discusses how financial transactions will fundamentally change from nodes to nodeless.

What is Myron really saying about the sequence of transactions and ledger control; and what are the accounting implications for the first asset on every balance sheet?