This Week in Fintech ending 7th August 2020

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This weekly summary from our 8 experts, brings you insights based on their experience as investors, entrepreneurs & executives.

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Your Editor is Bernard Lunn. He is also the CEO of Daily Fintech and author of The Blockchain Economy and occasional opinion columnist.

Monday Ilias Hatzis our Greece-based crypto entrepreneur (Founder & CEO at Mercato Blockchain Corporation AG and Weekly Columnist at Daily Fintech) @iliashatzis wrote Ethereum is Going to the Moon

The initial Ethereum team consisted of Vitalik Buterin, Anthony Di Iorio, Bitcoin Magazine co-founder Mihai Alisie, Amir Chetrit and Charles Hoskinson. The team printed black Ethereum t-shirts and started working on the Ethereum Blockchain in 2013. Later, they added three more co-founders Joseph Lubin, Gavin Wood, and Jeff Wilcke. They didn’t know each other very well or have a detail plan of what they would finally create. But they had a vision. They wanted to create a “world computer” that would transform not just money, but allow anyone to write smart contracts, decentralized applications and create their own arbitrary rules for asset ownership. Ethereum went live on 30 July 2015, with 72 million coins minted. That was five years ago. Today, stablecoins and DeFi, have turned Ethererum into the most used blockchain.

Editor note: Ilias makes a persuasive explanation of why Ethereum is doing well, citing traction in the key new markets of the future – stablecoins and DeFi.

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Tuesday Efi Pylarinou @efipm our Swiss-based Fintech Adviser,  founder of Efi Pylarinou Advisory and a Fintech/Blockchain influencer – No.3 influencer in the finance sector by Refinitiv Global Social Media 2019 wrote A selection of 7 themes on ETFs and robo-advisors

A mini digital detox in August, may reboot and upgrade my operating system. In this post, I am sharing a selection from this year`s posts focused on ETFs (a 50yrs old innovation) and robo-advisors.

 

Fintech contribution

2020 started with a healthy and growing $5trillion global ETF market. In the US there were 2,000 already trading on platforms with zero commissions.

Editor note: the trend towards low cost, mostly passive, investment vehicles stays very strong even if we are now past the Cambrian explosion era and into a consolidation phase when a few big winners emerge.

Alan Scott Managing Director EMEA at 24 Exchange @Alan_SmartMoney wrote Stablecoin News for the week ending Tuesday 4th August

This weekly snapshot is the news that matters in the Stablecoin market.

Wednesday  Guest author Amber Sutherland wrote A bankers guide to AI Part 2. What if the AI learns the wrong behaviours, such as bias?

Editor note: In every industry, banking included, much money will be made from AI automation (and sadly, many jobs lost). This 5 parter gives you some of the nuances and complexity of making that happen in banking.

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Thursday Patrick Kelahan @insuranceeleph1, our US based Insurtech expert (a CX, engineering & insurance professional, working with Insurers, Attorneys & Owners who also serves the insurance and Fintech world as the ‘Insurance Elephant’) wrote Become a captive and be freed- an alternative to traditional risk management

Knowing there are risks that are challenging to underwrite or expensive to share with a carrier does not have to limit a firm’s or groups options for risk management, nor does a prospective firm need to engage a top-heavy syndicate where 40% of premium dollars result in expense costs.  For those firms with stout hearts, clever advisers and an urge to have closer management of risk there are captive insurance schemes.  And there just might be tax savings, too. 

Editor note: Required reading fornsurance companies figuring out how to add value to corporates who do insurance in-house.

Thursday Christian Dreyer @x3er, our Swiss based CFA who focusses on how XBRL changes our world wrote XBRL: real-time reporting, extensible lists and rulesets

Editor note: This weekly snapshot is the news that matters in the XBRL market.

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Friday Howard Tolman, a well-known banker, technologist and entrepreneur in London, wrote: Alt Lending Week ended 7th August

Editor note: This weekly snapshot is the news that matters in the Alt Lending market.

Bernard Lunn @lunnbernard, the CEO of Daily Fintech and author of The Blockchain Economy, wrote:Interview with John O’Neill of Silent Eight on how to use AI in financial services

Editor note: Read this to learn about AI for detecting money laundering, accounting fraud and consumer scams

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