Open banking is transforming the financial industry, promising greater transparency, competition, and innovation. The European Union, which looks set to introduce updated rules about digital payments and financial services within the next two years, is at the leading edge of regulating open banking. This could enable Europe to bolster competition and accelerate innovation in its […]
Category: Fintech
In the previous two articles, we explored the questions ‘what is digital currency?’ and ‘what is the value of digital currency?’ In this article, we will examine the potential risks. Why are some people hesitant about digital currency? What could go wrong? In outlining the potential risks of digital currency, we are not making predictions […]
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What is the value of digital currency?
In the previous article, we explored the question ‘what is digital currency?’ In this article, we will examine the value of digital currency. Why would anyone want to use one? What benefits do they bring? Digital currency derives its value primarily from confidence. If people have faith that the currency will be accepted by others, […]
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What is digital currency?
Since the advent of Bitcoin in 2008, digital currency has been a growing trend and a growing area of interest for consultants, businesses, fintech investors, central banks, and governments. In this article series we will explore three basic questions: What is digital currency? What is the value of digital currency? What are the potential risks? […]
Overview As technology is continuously crafted to simplify the daily tasks in our lives, it is no surprise that peer-to-peer (P2P) mobile payments have revolutionized the way we spend and transfer money. The market demand for these payment systems has been monumental, as the ability to pay friends and family was previously inefficient and had […]
The idea that technology can be configured to drastically improve the delivery and usability of finance began taking off following the financial crisis of 2008, when consumer distrust for traditional banks combined with the increasing popularity and functionality of smartphone apps. Although fintech, short for “financial technology”, originally began as a back-end system where businesses […]