Comment by rstuart4133

That was my reaction too.

It was like reading an engineering team saying their attempt to design a new lightweight mountain bike failed. It turned out saving weight by omitting brakes wasn't a good idea, and their attempt to fix it by riding beside each bike and manually slowing it down wasn't too popular either. Then they have the hubris to follow that up with, "you can avoid the same mistakes by reading what we have to say on bicycle design".

The lessons they can take away have very little to do with engineering or FinTech. I'd file it under doing a bit of research before committing to any major task. Basic accounting principles are centuries old now. They could have learnt about them by buying a high school text book, reading it cover to cover and use doing the exercises. It would have taken them less than a week.

Admittedly that only gives you the "how", not the "why". You realise much, much later that the engineering equivalent of double entry accounting is two systems design by different teams that are constantly comparing their outputs. By the time you've figured that out, it's caught so many errors you realise "holy shit, these systems are really easy to screw up, and are under constant attack by malicious actors".

There is a hidden trap at every step - floating point being imprecise, currency rounding not being reversible, tax calculations being one way, ACID being a hard requirement. I'm being this mob screwed up tax calculations. Floating point throwing out 1 in 100 million transactions was one of the joys they never got to experience.