Paul Schulte, Advisor, Banking and Financial Services
August 22nd, 2019
Paul Schulte is the Founder and Managing Editor of Shulte Research based in Singapore. Paul's roles[...]
Five Trends in Blockchain To Be Excited About in The New Year
FintruX Network | Conrad Lin | Jan, 2019
In the past year, we have seen a lot of interest and careful, calculated advances being made in blockchain applications across industries. Blockchain today is proving to be a viable technology aimed at decentralizing every industry resulting in better efficiency and security.
Blockchain was born as the digital framework for cryptocurrency transactions, but many fintech enthusiasts prioritized the speculation of trading cryptocurrencies versus the technology that powered it. With the markets experiencing a downturn, we have the opportunity to shift our focus to innovative use cases of the technology.
What is Blockchain?
Blockchain technology is a digital database where its information is stored across computers linked to one another. It is decentralized and distributed which makes it nearly impossible to alter without detection. An example of distributed ledger technology, blockchain technology ensures transparency and security of data, empowering peer-to-peer transactions.
Outlook for Blockchain Technology in 2019
According to a recent Forrester research article, there is a real risk of experiencing a ‘blockchain winter’ in 2019 as many promised and groundbreaking applications of blockchain technology have not yet reached the masses. In addition, the bear market has always caused many retail investors to lose faith in the technology as a whole. However, cryptocurrency is only part of the picture, and in my opinion, a considerably small part of the equation.
The technology is powerful. There is a lot of push towards using this ubiquitous technology to develop sustainable and scalable solutions across industries which will surely be worth the wait.
Here’s what we can look out for in 2019:
- Payments: Cross border payments using blockchain is an innovation that is bound to change the way we carry out financial transactions across the globe. The current process of initiating and setting up international payments involve multiple steps, intermediaries, multiple currencies and is subject to high transaction fees and regulatory constraints. Blockchain technology speeds up and simplifies this process, cutting out many of the traditional middlemen and at the same time, making payment transfers more affordable. Companies like Ripple are working with Japanese banks on an application based on blockchain to create efficient, instant cash transfers around the clock. Payment innovations using blockchain are also being taken up by credit card companies like Mastercard, Visa and American Express and financial institutions like the Bank of America which has taken out 43 patents on blockchain technology.
See: Experts predict the five big fintech trends of 2019
- Unlocking Liquidity: Decentralized lending based on the blockchain have opened an alternative financing mode for both individuals and small and medium enterprises. With limited access to credit and credit scores, blockchain based lending can make the whole process seamless and efficient. Borrowers can access competitive financing from any part of the globe, while lenders can use smart contracts to validate transactions. This model of financing though, is still in its infancy, and one must be cautious of scrupulous organizations that are acting as rogue banks. FintruX Network is currently building a transparent financing ecosystem where transparency, risk reduction, and efficiency is maximized, and all participants win. According to a Transparency Market Research report, the global peer to peer lending market will aim to cater to not just small business loans but also consumer credit loans, student loans and real estate loans in the near future.
- Privacy: With the growing prevalence of data breaches and in the massively interconnected world we live in, blockchain technology will be a game changer as it provides a robust, incorruptible and encrypted recordkeeping that can be easily verified. The hashing feature of blockchain technology is one of the underlying qualities that make it suitable for privacy and security. Public ledgers and smart contracts can help iron out security and privacy issues in industries ranging from healthcare to education and can also be effectively utilized by the government. Estonia is a country that has initiated e-residency allowing their citizens to record data on the blockchain.
- Artificial Intelligence: The trustworthiness and security of blockchains infinitely increases the effectiveness of AI as it is granted more accurate data, models and actions. There is also an increase in accessibility to data as the information is available in public domain. The powerful trifecta of Big Data, AI and Blockchain technology will help in building better AI models which can then be effectively utilized for applications in industries like retail, healthcare and pharma, gaming, manufacturing, customer service, automotive and even agriculture.
- Internet of Things: Blockchain provides a secure and scalable framework for communication between the growing number of connected devices in our homes and offices. Due to its distributed nature, blockchain can also allow smart devices to make automated micro-transactions with cryptocurrency or token technology by leveraging smart contracts. Some companies working on this technology include SatoshiPay and IOTA.
See: The Future of Government… in a Digital Age
Blockchain adoption and use cases are growing daily, and possibilities for innovation are endless. This technology will stimulate new solutions, enabling businesses to rethink their processes to maximize the benefits of utilizing distributed ledgers. I look forward to successful implementation of the technology in the year to come.
About Conrad Lin:
Conrad Lin is a young and dynamic entrepreneur, public speaker, and influencer with a background in Neuroscience and Psychology from the University of Toronto. He is a proven expert in business analysis, social media growth, global marketing strategy, project management, and product development with a specialty in DLT (distributed ledger technologies). Conrad excels at managing teams and delivering phenomenal results in a short amount of time, often fulfilling multiple roles in an organization. Conrad dedicates his efforts towards initiatives that impact the world positively and benefits the global community. He is often invited to speak at key fintech events around the world to share his innovative ideas and achievements with industry professionals. Official Twitter: @cryptolin; Linkedin: https://www.linkedin.com/in/conradlin
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Osgoode Professional Development York University | Nov 2019 Strictly Legal, an Osgoode Professional Development podcast, is about all things legal. Each episode, we unpack current issues affecting the legal landscape with the help of some of the industry's leading thinkers. Heated fights over intellectual property are nothing new in promising technology markets. Are we poised for a revolution in the protection of all types of IP? The blockchain can be used to control and track the distribution of protected IP. Imagine a world where you could easily register and claim ownership over your original creative works – from music to photos to blogs. With the use of blockchain technology, that world is not so far away. As the world reacts to the current blockchain mania, many businesses in the community are having discussions on what the future of innovation in the blockchain space looks like. This week's guest: Paul Horbal, Bereskin Parr (@horbal) BIO: Paul Horbal is a partner with Bereskin & Parr LLP. He is a member of the firm’s Electrical & Computer Technology group and is Chair of the Financial Technology group. His practice focuses on patent, industrial design and technology law, with an emphasis on securing and leveraging ...
Read More
Reuters | Sharon Lam | Nov 8, 2019 Recession gatecrashes Hong Kong’s fintech party HONG KONG (Reuters Breakingviews) - Hong Kong’s economic travails are an unwelcome guest in the city’s fintech party. Enthusiasm for online-only banks was palpable at the Fintech Week conference. Yet months of political unrest have hit small businesses, and the added risks may delay local launches by the likes of Standard Chartered and Tencent. Attendees this week descended on Hong Kong’s Lantau Island for the financial hub’s fourth annual gathering. With appearances from top officials like Financial Secretary Paul Chan to executives at Singapore’s $14 billion Grab and other rising stars, there was plenty of buzz. Hot topics included central bank digital currencies and cross-border payments. See: News on China cryptocurrency and more reforms Virtual banks, as these branchless outfits are known in Hong Kong, took centre stage. Earlier this year, Hong Kong authorities granted eight licenses for such firms to offer payments, deposits and other services, in a long overdue shakeup. HSBC, Bank of China Hong Kong, Hang Seng Bank and Standard Chartered account for some three-quarters of the city’s mortgages and two-thirds of retail loans. Online challengers, including a joint venture between Chinese handset ...
Read More
TLT Solicitors | Daniel Lloyd | Sept 2019 Who is liable when AI goes wrong? Let us take the example of Tesla, whose vehicles have been involved in two similar fatal crashes since 2016. In both cases the vehicle failed to see a lorry cross its path and travelled into the lorry shearing off the top of the car, thereby causing both drivers to suffer fatal injuries. Should Tesla be liable for the crash? At what point should a driver no longer have any liability for what the car is doing? At the moment the Department of Transport in the USA adheres to the automation standards set out by the SAE which run from “level 0” (no automation) to “level 6” (full automation). It is accepted that Tesla’s Autopilot driverless software system is no more than a level 2 or 3 on this scale, both of which require the driver to remain in control of the vehicle when driving. So from a public law perspective at least, Tesla is not being held liable for the two crashes that occurred if, as appears to be the case, the drivers were not in control of the vehicles at the time they crashed ...
Read More
American Banker | Nov 6, 2019 JPMorgan Chase has long feared that technology giants will act more and more like banks. The firm’s surprising solution: help them do it. The bank has spent the last year developing an e-wallet tailored for companies such as Airbnb, Lyft and Amazon that it says could help online marketplaces and companies in the gig economy defend against getting cut out of the businesses they helped create. In the process, they’ll look a little more like banks. The JPMorgan product would give tech companies the ability to provide millions of customers virtual bank accounts and to offer perks such as car loans or discounts on home rentals to those who keep money stashed there. The more customers use their virtual accounts to pay for services, the less the companies would have to spend on payment-processing fees to third parties such as JPMorgan. See: JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business “A company’s biggest fear is that once they establish a commerce-type relationship, they can’t maintain the end user, and they leave the ecosystem because they now have a direct relationship with the seller,” Matt Loos, a managing director ...
Read More
Markets Insider | Ben Winck | Nov 8, 2019 Robinhood's "infinite leverage" glitch has placed the company back under regulator scrutiny, which could result in a fine, Bloomberg reported Thursday. One person on the WallStreetBets sub-Reddit — the forum where much of the discussion around the glitch has taken place — described the bug as an "infinite money cheat code." The Securities and Exchange Commission and the Financial Industry Regulatory Authority are the two agencies most likely to investigate the matter. Both have the authority to levy fines for financially-irresponsible behavior. The glitch that allowed traders to borrow limitless amounts of capital was exploited by about 20 users and led to losses of less than $100,000 for Robinhood, a source familiar with the matter told Bloomberg. Members of the WallStreetBets subreddit discovered the bug in late October, with one user deeming it an "infinite money cheat code." The bug allowed traders to borrow seemingly-limitless amounts of capital without posting enough cash as collateral. The glitch was exploited by about 20 Robinhood Gold users and led to losses of less than $100,000 for the company, a source familiar with the matter told Bloomberg. The Securities and Exchange Commission and the Financial ...
Read More
Betakit | Isabelle Kirkwood Nov 8, 2019 Vancouver-based FinTech startup Grow Technologies, which develops software solutions in the loan management space, has been acquired by Alberta’s ATB Financial. The purchase price was not disclosed. “With the Grow assets and team, we are strengthening that position by accelerating our digital experience for our customers.” Through the acquisition, the majority of Grow’s team members, including founder and CEO Kevin Sandhu (who authors BetaKit’s yearly Canadian Tech Companies to Watch list), will transition to the ATB team. ATB said its customers will begin to use Grow’s digital services within the next few months. Customers will have access to Grow’s digital platform, which was designed to help financial institutions acquire new users and grow wallet share with existing users. “The entire Grow team is excited about a new chapter ahead of us as we look to bring our FinTech solutions and expertise to ATB,” Sandhu told BetaKit. Grow offers a range of cloud-based digital banking solutions spanning retail and business banking. Founded in 2014, the company has developed a variety of software solutions, including account opening and lending for SMEs and retail, a personalized financial health tool, and Finsnap, a bank account data aggregator ...
Read More
Mavennet and US Department Homeland Security | Patrick Mandic | Nov 6, 2019 WASHINGTON – The Department of Homeland Security (DHS) Science and Technology Directorate (S&T) has awarded $182,700 to Toronto-based Mavennet Systems, Inc. to adapt its oil and gas industry blockchain security technology for Custom Border Protection (CBP) to track cross-border oil imports. “Accurately tracking the evidence of oil flow through pipelines and refinement between the U.S. and Canada and attributing oil imports with the accurate composition and country of origin are of great interest to U.S. Customs and Border Protection (CBP),” said Anil John, S&T’s SVIP Technical Director. “Mavennet’s platform could provide this digital auditability while ensuring broad interoperability by supporting emerging World Wide Web Consortium standards such as decentralized identifiers and verifiable credentials.” Mavennet Systems, Inc. Phase 1 award project “Blockchain-as-a-Service for Cross-Border Oil Exchange” will apply the company’s expertise, gleaned from building a platform enabling real-time auditability of the natural gas trading markets in Canada, to address CBP needs for cross-border oil import tracking. Mavennet’s solution will build a generic end-to-end platform that can be used for any type of commodity that includes automation and integrating application program interface, physical measurement and legacy system capabilities. See: President ...
Read More
FastCompany | Howard Yu and Jialu Shan | Nov 6, 2019 Despite Facebook’s reach, IMD professor Howard Yu and research fellow Jialu Shan break down how its Libra digital currency is no match for legacy financial institutions. To understand the impact of Visa’s and Mastercard’s withdrawal to Libra is to understand their enormous influence in fintech innovation in the Western world. At the International Institute for Management Development (IMD), we track how likely a firm is to successfully leap toward a new knowledge frontier in its effort to prepare for the future. We specifically measure how ready the industry incumbents in the financial sectors are for new areas such as robo-advisers, cryptocurrency and blockchain, artificial intelligence, mobile services and mobile payments, and application programming interfaces (APIs). To achieve a balanced and robust measurement, we take note of the “health” of a company’s ongoing business through its cash flow, operating margins, and rising revenues. But for that healthy cash flow to be effectively deployed into new areas, executives need to see beyond their day-to-day operations and be capable of challenging the long-held assumptions of the industry. This process demands diversity in a company’s workforce, which is represented by gender and nationality ...
Read More
TechCrunch | Arman Tabatabai | Nov 6, 2019 Over the past several years, ‘fintech’ has quietly become the unsung darling of venture. A rapidly swelling pool of new startups is taking aim at the large incumbent institutions, complex processes and outdated unfriendly interfaces that mar billion dollar financial services verticals, such as insurtech, consumer lending, personal finance, or otherwise. In just the past summer, the startup community saw a multitude of hundred-million dollar fintech fundraises. In 2018, fintech companies were the source of close to 1,300 venture deals worth over $15 billion in North America and Europe alone according to data from Pitchbook. Over the same period, KPMG estimates that over $52 billion in investment pour into fintech initiatives globally. See: How to Value a Fintech Startup With the non-stop stream of venture capital flowing into the never-ending list of spaces that fall under the ‘fintech’ umbrella, we asked 12 leading fintech VCs who work at firms that span early to growth stages to share where they see the most opportunity and how they see the market evolving over the long-term. The participants touched on a number of key trends in the space, including rapid innovation in fintech infrastructure, fintech ...
Read More
Crowdfund Insider | JD Alois | Nov 5, 2019 Last month, Crowdfund Insider reported on comments by EC Vice President Valdis Dombrovskis, a Commissioner whose portfolio includes Financial Stability, Financial Services, and the Capital Markets Union, indicating harmonized crowdfunding rules may be forthcoming before the end of the year. In a tweet, Dombrovskis stated there is a “willingness to move forward and find compromises, hopefully still this year” (on investment crowdfunding). Harmonization across all EU member states could dramatically help European SMEs and entrepreneurs access much-needed growth capital. Platforms could operate across national borders with the assurance of a single set of regulations. Currently, investment crowdfunding platforms must adhere to national, member state rules which vary dramatically across Europe. This fragmented ecosystem stands in stark contrast to what the European Union ostensibly seeks to achieve. Capital Markets Union has been a longstanding and obvious policy goal of Europe, but while simple in concept, the reality has been far more difficult to accomplish. The most robust market for investment crowdfunding remains the UK – a country that will sometime soon exit Europe. While the UK platforms will continue to provide online capital formation across the continent, a single set of rules ...
Read More
Osgoode Professional Development York University | Nov 2019 Strictly Legal, an Osgoode Professional Development podcast, is about all things legal. Each episode, we unpack current issues affecting the legal landscape with the help of some of the industry's leading thinkers. Heated fights over intellectual property are nothing new in promising technology markets. Are we poised for a revolution in the protection of all types of IP? The blockchain can be used to control and track the distribution of protected IP. Imagine a world where you could easily register and claim ownership over your original creative works – from music to photos to blogs. With the use of blockchain technology, that world is not so far away. As the world reacts to the current blockchain mania, many businesses in the community are having discussions on what the future of innovation in the blockchain space looks like. This week's guest: Paul Horbal, Bereskin Parr (@horbal) BIO: Paul Horbal is a partner with Bereskin & Parr LLP. He is a member of the firm’s Electrical & Computer Technology group and is Chair of the Financial Technology group. His practice focuses on patent, industrial design and technology law, with an emphasis on securing and leveraging ...
Read More
Read More
Reuters | Sharon Lam | Nov 8, 2019 Recession gatecrashes Hong Kong’s fintech party HONG KONG (Reuters Breakingviews) - Hong Kong’s economic travails are an unwelcome guest in the city’s fintech party. Enthusiasm for online-only banks was palpable at the Fintech Week conference. Yet months of political unrest have hit small businesses, and the added risks may delay local launches by the likes of Standard Chartered and Tencent. Attendees this week descended on Hong Kong’s Lantau Island for the financial hub’s fourth annual gathering. With appearances from top officials like Financial Secretary Paul Chan to executives at Singapore’s $14 billion Grab and other rising stars, there was plenty of buzz. Hot topics included central bank digital currencies and cross-border payments. See: News on China cryptocurrency and more reforms Virtual banks, as these branchless outfits are known in Hong Kong, took centre stage. Earlier this year, Hong Kong authorities granted eight licenses for such firms to offer payments, deposits and other services, in a long overdue shakeup. HSBC, Bank of China Hong Kong, Hang Seng Bank and Standard Chartered account for some three-quarters of the city’s mortgages and two-thirds of retail loans. Online challengers, including a joint venture between Chinese handset ...
Read More
Read More
TLT Solicitors | Daniel Lloyd | Sept 2019 Who is liable when AI goes wrong? Let us take the example of Tesla, whose vehicles have been involved in two similar fatal crashes since 2016. In both cases the vehicle failed to see a lorry cross its path and travelled into the lorry shearing off the top of the car, thereby causing both drivers to suffer fatal injuries. Should Tesla be liable for the crash? At what point should a driver no longer have any liability for what the car is doing? At the moment the Department of Transport in the USA adheres to the automation standards set out by the SAE which run from “level 0” (no automation) to “level 6” (full automation). It is accepted that Tesla’s Autopilot driverless software system is no more than a level 2 or 3 on this scale, both of which require the driver to remain in control of the vehicle when driving. So from a public law perspective at least, Tesla is not being held liable for the two crashes that occurred if, as appears to be the case, the drivers were not in control of the vehicles at the time they crashed ...
Read More
Read More
American Banker | Nov 6, 2019 JPMorgan Chase has long feared that technology giants will act more and more like banks. The firm’s surprising solution: help them do it. The bank has spent the last year developing an e-wallet tailored for companies such as Airbnb, Lyft and Amazon that it says could help online marketplaces and companies in the gig economy defend against getting cut out of the businesses they helped create. In the process, they’ll look a little more like banks. The JPMorgan product would give tech companies the ability to provide millions of customers virtual bank accounts and to offer perks such as car loans or discounts on home rentals to those who keep money stashed there. The more customers use their virtual accounts to pay for services, the less the companies would have to spend on payment-processing fees to third parties such as JPMorgan. See: JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business “A company’s biggest fear is that once they establish a commerce-type relationship, they can’t maintain the end user, and they leave the ecosystem because they now have a direct relationship with the seller,” Matt Loos, a managing director ...
Read More
Read More
Markets Insider | Ben Winck | Nov 8, 2019 Robinhood's "infinite leverage" glitch has placed the company back under regulator scrutiny, which could result in a fine, Bloomberg reported Thursday. One person on the WallStreetBets sub-Reddit — the forum where much of the discussion around the glitch has taken place — described the bug as an "infinite money cheat code." The Securities and Exchange Commission and the Financial Industry Regulatory Authority are the two agencies most likely to investigate the matter. Both have the authority to levy fines for financially-irresponsible behavior. The glitch that allowed traders to borrow limitless amounts of capital was exploited by about 20 users and led to losses of less than $100,000 for Robinhood, a source familiar with the matter told Bloomberg. Members of the WallStreetBets subreddit discovered the bug in late October, with one user deeming it an "infinite money cheat code." The bug allowed traders to borrow seemingly-limitless amounts of capital without posting enough cash as collateral. The glitch was exploited by about 20 Robinhood Gold users and led to losses of less than $100,000 for the company, a source familiar with the matter told Bloomberg. The Securities and Exchange Commission and the Financial ...
Read More
Read More
Betakit | Isabelle Kirkwood Nov 8, 2019 Vancouver-based FinTech startup Grow Technologies, which develops software solutions in the loan management space, has been acquired by Alberta’s ATB Financial. The purchase price was not disclosed. “With the Grow assets and team, we are strengthening that position by accelerating our digital experience for our customers.” Through the acquisition, the majority of Grow’s team members, including founder and CEO Kevin Sandhu (who authors BetaKit’s yearly Canadian Tech Companies to Watch list), will transition to the ATB team. ATB said its customers will begin to use Grow’s digital services within the next few months. Customers will have access to Grow’s digital platform, which was designed to help financial institutions acquire new users and grow wallet share with existing users. “The entire Grow team is excited about a new chapter ahead of us as we look to bring our FinTech solutions and expertise to ATB,” Sandhu told BetaKit. Grow offers a range of cloud-based digital banking solutions spanning retail and business banking. Founded in 2014, the company has developed a variety of software solutions, including account opening and lending for SMEs and retail, a personalized financial health tool, and Finsnap, a bank account data aggregator ...
Read More
Read More
Mavennet and US Department Homeland Security | Patrick Mandic | Nov 6, 2019 WASHINGTON – The Department of Homeland Security (DHS) Science and Technology Directorate (S&T) has awarded $182,700 to Toronto-based Mavennet Systems, Inc. to adapt its oil and gas industry blockchain security technology for Custom Border Protection (CBP) to track cross-border oil imports. “Accurately tracking the evidence of oil flow through pipelines and refinement between the U.S. and Canada and attributing oil imports with the accurate composition and country of origin are of great interest to U.S. Customs and Border Protection (CBP),” said Anil John, S&T’s SVIP Technical Director. “Mavennet’s platform could provide this digital auditability while ensuring broad interoperability by supporting emerging World Wide Web Consortium standards such as decentralized identifiers and verifiable credentials.” Mavennet Systems, Inc. Phase 1 award project “Blockchain-as-a-Service for Cross-Border Oil Exchange” will apply the company’s expertise, gleaned from building a platform enabling real-time auditability of the natural gas trading markets in Canada, to address CBP needs for cross-border oil import tracking. Mavennet’s solution will build a generic end-to-end platform that can be used for any type of commodity that includes automation and integrating application program interface, physical measurement and legacy system capabilities. See: President ...
Read More
Read More
FastCompany | Howard Yu and Jialu Shan | Nov 6, 2019 Despite Facebook’s reach, IMD professor Howard Yu and research fellow Jialu Shan break down how its Libra digital currency is no match for legacy financial institutions. To understand the impact of Visa’s and Mastercard’s withdrawal to Libra is to understand their enormous influence in fintech innovation in the Western world. At the International Institute for Management Development (IMD), we track how likely a firm is to successfully leap toward a new knowledge frontier in its effort to prepare for the future. We specifically measure how ready the industry incumbents in the financial sectors are for new areas such as robo-advisers, cryptocurrency and blockchain, artificial intelligence, mobile services and mobile payments, and application programming interfaces (APIs). To achieve a balanced and robust measurement, we take note of the “health” of a company’s ongoing business through its cash flow, operating margins, and rising revenues. But for that healthy cash flow to be effectively deployed into new areas, executives need to see beyond their day-to-day operations and be capable of challenging the long-held assumptions of the industry. This process demands diversity in a company’s workforce, which is represented by gender and nationality ...
Read More
Read More
TechCrunch | Arman Tabatabai | Nov 6, 2019 Over the past several years, ‘fintech’ has quietly become the unsung darling of venture. A rapidly swelling pool of new startups is taking aim at the large incumbent institutions, complex processes and outdated unfriendly interfaces that mar billion dollar financial services verticals, such as insurtech, consumer lending, personal finance, or otherwise. In just the past summer, the startup community saw a multitude of hundred-million dollar fintech fundraises. In 2018, fintech companies were the source of close to 1,300 venture deals worth over $15 billion in North America and Europe alone according to data from Pitchbook. Over the same period, KPMG estimates that over $52 billion in investment pour into fintech initiatives globally. See: How to Value a Fintech Startup With the non-stop stream of venture capital flowing into the never-ending list of spaces that fall under the ‘fintech’ umbrella, we asked 12 leading fintech VCs who work at firms that span early to growth stages to share where they see the most opportunity and how they see the market evolving over the long-term. The participants touched on a number of key trends in the space, including rapid innovation in fintech infrastructure, fintech ...
Read More
Read More
Crowdfund Insider | JD Alois | Nov 5, 2019 Last month, Crowdfund Insider reported on comments by EC Vice President Valdis Dombrovskis, a Commissioner whose portfolio includes Financial Stability, Financial Services, and the Capital Markets Union, indicating harmonized crowdfunding rules may be forthcoming before the end of the year. In a tweet, Dombrovskis stated there is a “willingness to move forward and find compromises, hopefully still this year” (on investment crowdfunding). Harmonization across all EU member states could dramatically help European SMEs and entrepreneurs access much-needed growth capital. Platforms could operate across national borders with the assurance of a single set of regulations. Currently, investment crowdfunding platforms must adhere to national, member state rules which vary dramatically across Europe. This fragmented ecosystem stands in stark contrast to what the European Union ostensibly seeks to achieve. Capital Markets Union has been a longstanding and obvious policy goal of Europe, but while simple in concept, the reality has been far more difficult to accomplish. The most robust market for investment crowdfunding remains the UK – a country that will sometime soon exit Europe. While the UK platforms will continue to provide online capital formation across the continent, a single set of rules ...
Read More
Read More
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