BIS:Being First May Be the Key to Success
TRANSACTION SYSTEMS
LONDON--Users of electronic transaction systems may find themselves locked into the first systems that are available to them, because once a system is established as the standard, changeover to another one may be prohibitive.
This was the finding of a study done by the Committee on the Global Financial System of the central banks of the Group of Ten countries, published by the Bank for International Settlements.
"So-called 'first movers' are able to set the standard for a particular type of
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