This Week in Fintech ending 29 April 2022

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 Like it or not, Crypto is changing everything

At the end of March, Vitalik Buterin in an interview with Time Magazine specifically voiced his concerns about the market’s large amount of Ponzi-scheme Defi and NFT protocols and how they’ve hijacked the Ethereum platform and have driven fees sky high.

People’s interest in crypto has skyrocketed among investors and in popular culture, thanks to everyone from like Elon Musk to that kid from your high school on Facebook.

The market is only in its infancy, which is why every new bitcoin high can be easily followed by big price drops. While exact predictions are impossible, this Easter Sunday, I will be looking at some interesting facts and figures for the year’s first three months to understand where we might be headed

Editor note: The Defi and NFT markets are still in their scam phase, but a lot of disruptive innovation goes through this phase.

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Tuesday Bernard Lunn, CEO of Daily Fintech and author of The Blockchain Economy wrote: Silvergate is becoming a real crypto bank and that should worry legacy banks.

We first wrote about Silvergate Bank when they announced their pre IPO round by the Witter Family Office (not by the usual VC Funds). The Witter name should ring a bell with finance folks as the money came from Mr. Dean Witter and the firm that bears his name (part of Morgan Stanley since 1997).

Editor note: Silvergate maybe acquired by big tech or a legacy bank; their valuation is still low enough to make this feasible.

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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: Segment-of-One Personalization Part 1: The End Goal

The merits of well-executed personalization are legion. Financial institutions (FI) can potentially generate up to $300 million in revenue, for every $100 billion in assets under management by interacting with customers in hyper-personalized ways.  The reality is that many providers have struggled to deliver the tailormade experiences those customers expect. In banking, for instance, nearly 90% of firms fall short. So much so that two-thirds of their clientele feel that most retailers deliver a much better personalized experience.

Editor note: Customers want to think they have a one to one relationship, without thinking about how their insurance company delivers this profitably at scale.

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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