Al Gore recently stated that sustainability is "the greatest investment opportunity in history" [1] and that "impact investing has the scale of the industrial revolution and the speed of the digital revolution". But how can companies change their business to this new paradigm without compromising their present?

By shopping online or posting a "like" on Facebook we expose our identity and privacy to a gigantic pool of data. Yes, there is huge potential there for humanity. But there are also a number of threats we need to be aware of. Second in a series of ten texts about the risks of the "Digital Revolution".

The last few years have been paradoxical.

Recent times have been fertile in events, decisions, movements, positions taken and deliberations that not long ago we did not imagine possible. Even though, deep down, we believed in change, we did not believe it would unfold at this pace.

Banks in the European Union subject to International Financial Reporting Standards (IFRS) had to implement IFRS 9 as of 1 January 2018. One of the main concerns with the implementation of IFRS 9 is that it would cause a sudden increase in Expected Credit Loss (ECL) estimates, which would cause an abrupt and significant decline in Common Equity Tier 1 (CET1) regulatory capital ratios for many banks in the European Union.

There is a simple magic in organising the technological stages in numerals followed by a zero point. The zero point signals change and new beginnings. This simplifying algebra was applied by Pier Luigi Sacco to the evolution of culture, in its relationship with society. In the abstract, culture is individualistic, ascetic, and absolutely spontaneous. But as a social phenomenon, culture transforms society and at the same time reflects the transformations of politics, economics and technology. So let us simplify.