Roughly 22 years ago, the proliferation of fax machines and personal computers led to an unexpected development. The nation started running out of area codes. New York had to adopt … a third.
Then came the mobile phone and, by 2009, we were running out of area codes again.
But computers of all types – from servers to smart handheld devices – kept proliferating, too. And every device came to be connected, one way or another, to the World Wide Web.
So, by 2010, Internet addresses were running out.
Now comes the address system for financial markets: the legal entity identification code.
Thankfully, this time, it looks like there is plenty of room to grow.