This Week in Fintech ending 25 June 2021

This week our experts brought you the following insights based on their experience as investors, entrepreneurs & executives.

Monday Ilias Hatzis our Greece-based crypto entrepreneur (Founder & CEO at  Kryptonio a “keyless” non-custodial bitcoin and cryptocurrency wallet, that lets users manage bitcoin and crypto, without private keys or passwords and Weekly Columnist at Daily Fintech) @iliashatzis wrote A Wallet to Freedom

Let’s look at some activity in in the crypto wallet space for the last two, three months. Earlier this month, Jack Dorsey tweeted that Square is considering developing a crypto hardware wallet that would give users greater control over how they store and spend their bitcoin. French hardware wallet startup Ledger has raised a $380 million Series C funding round bringing the company’s valuation to $1.5 billion; In March ImToken, the crypto wallet developer, announced it raised $30 million in Series B funding; Blockset, the blockchain infrastructure platform for enterprises by BRD, announced early access to its wallet-as-a-service today, providing a white-label solution that gives clients the ability to launch wallets; In April, Exodus, the creator of a popular non-custodial crypto wallet, raised $60 million by selling stock in the company and accepting as payment bitcoin, ethereum, and USDC stablecoin; In March, Coinbase announced that it acquired Cipher Browser, a mobile browser and Ethereum wallet provider; Last but not least, Binance has confirmed that it has acquired Trust Wallet, a mobile Ethereum wallet. Cryptocurrencies have been capturing the attention of investors and users alike, largely driven by their steep increase in value. As a result, the demand for crypto wallets in on the rise. Crypto wallets are interfaces to protocols and services, that enable consumers and merchants to unlock the value of the $1.5+ trillion in digital assets currently held in cryptocurrencies.

Editor note:The combo of centralized and a bearer instrument is a honey pot for hackers. The future has to be non-custodial wallet. 

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Tuesday Bernard Lunn, CEO of Daily Fintech and author of The Blockchain Economy wrote: Part 3 – birth certificate assets that teach the power of compound interest

If you give cash in the form of equity to a new born baby and lock that capital away for a long time, when that person receives the capital they will learn the power of compounding.

Wealthy families already do this. What about poor families? They will need somebody wealthy to donate that Birth Certificate capital. Donors should be able to choose from a checklist of 6 items.

Editor note: if you are interesting donating cash or IP to this impact venture idea, please reach out to me on LinkedIn.

Wednesday Alan Scott Managing Director EMEA at 24 Exchange @Alan_SmartMoney wrote his weekly roundup of Stablecoin news.

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Thursday

Rintu Patnaik, an Insurtech expert based in India, wrote: The Different Shades of Insurance-In-A-Box Solutions

Back in 2007, when the concept of a pre-configured, fully integrated framework for transformation was largely unheard of, Infosys Technologies had launched Finacle Bank-in-a-Box (BIAB), a fully web-enabled application and process stack in a ready to deploy state for three regions – Europe, Middle East and South East Asia. Bank Sohar in Oman had successfully implemented this core banking and treasury solutions in a record 56 days. Standard codes like ISO Country/Currency, SWIFT BIC Codes, UCPDC Codes were available in the BIAB and included 300+ process Maps.

In the recent past, insurance-in-a-box has gained traction and we witness developments from multiple entities. While digitally advanced carriers like Chubb have announced an ecosystem-friendly IIAB, technology vendors such as WNS have launched a core-system like IIAB for carriers. Lloyds, in its Future of Lloyds roadmap, outlined Syndicate-in-a-box (SIAB) as one of its cornerstones. In this article, we try to peer under the covers of each of these.

Editor note: Rintu looks at multiple efforts to dramatically reduce the cost & time to implement complex new insurance functionality.

Christian Dreyer @x3er, the Swiss based CFA who focusses on how XBRL changes our world wrote his weekly roundup of XBRL news.

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Friday Howard Tolman, a well-known banker, technologist and entrepreneur in London, wrote his weekly roundup of Alt Lending news.

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