This Week in Fintech ending 19 November 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 Taproot is here. The next era of bitcoin just began.

The Taproot upgrade for Bitcoin was officially activated on Sunday. Bitcoin had its biggest upgrade in 4 years, since the introduction of Segregated Witness in 2017. The Taproot upgrade improves network privacy, scalability, security, and the ability to support complex transactions. Earlier in the week bitcoin hit a new record high of $69k ($68,789.63 to be exact), and the Taproot upgrade will have a substantial impact on bitcoin’s future growth and usage and will increase its adoption rate dramatically. One of the most significant changes of this upgrade is that it improves transaction privacy and efficiency and unlocks the potential for smart contracts. A new era for bitcoin has just started. While changes will not be apparent to users immediately, the enhanced features will provide developers, crypto wallets, and exchanges with more tools to improve the bitcoin network’s capabilities over time.

Editor note:Privacy is something that Satoshi Nakamoto missed. Taproot fixes that. 

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Tuesday Bernard Lunn, CEO of Daily Fintech and author of The Blockchain Economy wrote: Part 3 If you pay peanuts you will get monkeys

What happened to Motif? If you believe that copy trading can disrupt fund management you have to answer this question.

“Motif allows individuals and investment advisors to invest in stock and bond portfolios built around everyday ideas and economic trends” (source Crunchbase). Despite Motif raising  $126.5M from top tier investors such as Goldman Sachs, JP Morgan, Balderton Capital and Renren, they fell on hard times, shut down and moved their portfolios to Folio Investing that had been competing with Motif. They have since been acquired by Charles Schwab (a big player in the Fintech 50 Index of publicly traded companies).

Editor note: Surely there is something in between a hugely risky path to a Hedge Fund fortune and enough for 25% of a cup of coffee!

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: Is AI “Pie In the Sky” For Insurance Distribution?

Globally, insurers contend with numerous distribution challenges — whether it is by virtue of the shift to remote sales networks or from balancing tech-assisted and human sales. Artificial intelligence (AI) is known to create seamless and personalized experiences with solutions ranging from lead prioritization to automated underwriting. Evidently, the most impact from AI, with as much as 80% of value, is expected to be in marketing and sales against 10% in risk management and 3% from gains in operational efficiency.

Editor note: Rintu looks at the use cases for AI in Insurance sales and distribution.

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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