Every day we bring you fresh insights about Fintech from an elite group of Authors who are just like you – senior executives, entrepreneurs and investors working in the global Fintech revolution. Once a week our Editor summarises these posts for the time challenged and gives you a peek at what you will get by reading the whole article.
Monday Ilias Hatzis @iliashatzis our Greece-based crypto entrepreneur, wrote:
”Bitcoin has no intrinsic value, but neither does government-issued paper money. The market should determine its value, while government should focus on disclosure, education, fraud prevention, and curbing its use to support criminal activities.” – Sheila Bair, who headed the FDIC during the dark days of the 2008 financial crisis
Ed note: Ilias explains the bad macroeconomic numbers in the legacy Fiat economy and predicts that when the next financial crisis hit, there will be mass adoption of Bitcoin.
Tuesday Efi Pylarinou @efipm our Swiss-based Fintech Adviser wrote:
Summer reading for Fintech leaders includes books by Miguel R. Brandao, Duena Blomstrom, Costa Vayenas, Chris Skinner & Paolo Sironi.
Ed Note: These 4 books recommended by Efi have many conceptual breakthroughs such as the Dolphin Organization, People-Centered Economy, CivicTech linked to Democracy in the Digital Age & Sustainable Banking Innovation
Wednesday Jessica Ellerm @jessicaellerm, our Australia-based Fintech entrepreneur, had a week off so we reposted from Jan 2015:
Ed Note: this was one of Daily Fintech’s early posts that epitomizes what one of our regular readers noted – “before it is news, I get to read about it in Daily Fintech”. This is what we have dubbed News Forecasting, which is the mental discipline of looking at trends and real unmet needs to figure out where the puck is headed.
Thursday Patrick Kelahan @insuranceeleph1, our US based Insurtech expert, wrote Contents Cover- the under-served aspect of property insurance innovation
Structure losses– estimated to the nearest square foot or square meter. Plenty of automated tools and techniques, and plenty of auditing for consistency.
Contents losses– manual assessment and data entry. Some automated tools for high value, niche cover or pre-inventory. Little consistency in estimation as there is little consistency in what’s being assessed
Ed Note: Pat contrast the inefficiency of unscheduled personal property (UPP) insurance (aka contents aka FF&E) with the relative efficiency of structure/house insurance. Despite both being subject to the same event, affecting the same customer and drawing from the same insurance funds, the approach is fundamentally different.
Friday Arunkumar Krishnakumar @karunk, our London based Fintech investor, wrote China’s digital currency could be a response to Libra
China announced their CBDC (Central Bank Digital Currency) after working on it for 5 years. This is likely a response to the US-China trade war and more controversially, a response to Facebook Libra.
Ed Note: it is a strange moment in history when the idea of a big country imitating a tech company in currency is even conceivable and debatable. Arun posits the idea that this move by China may make the US Government more friendly to Libra.
I have no positions or commercial relationships with the companies or people mentioned (other than Daily Fintech of course). I am not receiving compensation for this post.
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