Horology, Technology Michael Hill Horology, Technology Michael Hill

The Quartz Crisis 🧊

The Quartz Crisis nearly devastated Swiss horologists as affordable, battery-powered tech made old school mechanical watches obsolete. Rolex, however, survived by shifting from practicality to luxury. Despite teetering close to failure, Rolex became a global icon of success.

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Michael Hill Michael Hill

How do governments regulate policy?

Learn about the evolution of one of the most important regulating bodies in the US economy, the Federal Reserve Bank. The Fed established 111 years ago on Dec. 23rd of 1913 is primary responsible for overseeing US banks & making monetary policy decisions. Read more to learn about the early days of the bank along with the Feds influence on major events such as the US’s devotion from the gold standard and the Great Depression.

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Michael Hill Michael Hill

Latin American debt crisis of the early 80’s

Before computers, banks kept track of everything from account balances to balance sheets by hand. However, the post-WW2 boom in the banking industry created a pressing need for transactions to be processed faster than ever before. In 1955, the introduction of the Electronic Recording Machine, or ERMA, revolutionized electronic banking. The ERMA system streamlined bank operations leading to modern innovations like MICR numbers, still found on the bottom of checks today. ERMA marked a pivotal moment in banking, paving the way for Fintech.

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Michael Hill Michael Hill

Boston Computer Exchange

Boston Computer Exchange (BCE), founded in 1982 by Daniel and Laurie Morrow, was the first e-commerce marketplace. Using a bulletin board system (BBS) over dial-up, BCE enabled individuals to trade used computers by connecting buyers and sellers online. Sellers listed their products for a fee, and BCE earned commissions by brokering transactions. Though eventually overshadowed by the rise of companies like Amazon and eBay, BCE set demonstrated the potential of digital platforms to host peer-to-peer transactions.

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