[video 2.3] Financial inclusion, to include people who previously were excluded and allowing them to do things more efficiently; and thereby promote economic growth and reduce poverty. (If you're cashing out, liquidity could be a problem.--> not that efficient/ network/ ecosystem.)
[video 2.4]
(1) Keep the flow safe: Common law countries: using trusts to protect mobile money customers; central bank as protector. (https://ssrn.com/abstract=2612454)/ civil law countries (trust is not there: a mix of mandates, fiduciary contracts & direct regulation, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2713612).
(2) Consumer protection (network)-->recourse mechanism
(3) Money laundering & terrorism
[video 2.5] RTGS- real time gross settlement- how RTGS supports FinTech? i.e. peer-to-peer transaction: Venmo, peer-to-peer lending (speed & convenience). a critical layer for FinTech, including blockchain and API.
[video 2.6] ABCDs for FinTech- AI, Blockchain, Cloud, Data.
Cloud- new business models: SaaS (software as a service), IoT
Block chain- a ledger that is distributed via a peer-to-peer network which records transactions by way of blocks. Data on the block is immutable and effectively cannot be altered unless all prior blocks in the chain are altered by consensus.
:DAOs (distributed autonomous organizations)
AI- different strands in AI: natural language processing v.s. machine learning
[video 2.7] real-time instant payment between individuals/ companies both through or outside of banking system. (disintermediation) new payment infrastructure supporting investment, e-commerce and lending. (open banking in EU for new entrants, tech firm and startups)
[video 2.8] cryptocurrencies- resolved the double-spending issue. Features: decentralized, instantaneous, low cost, borderless, fixed supply. Challenges: not user-friendly, not eco-friendly, volatility, etc.
[video 2.8.1] blockchain+smart contract technology. what law rules? too many rules which may even conflict each other.
[video 2.9A] cryptocurrencies= blockchain system+distributed ledger technology+cryptography (secure storage)-->proven then encrypt into blocks. security, permanence, and transparency.
[video 2.9B] smart contracts.
Permissionless blockchain: i.e. bitcoin/ open to public
Permissioned blockchain: pre-approved network
[video 2.9.1] standard chartered- Ripple investment: status visibility/ fee transparency
[video 2.4]
(1) Keep the flow safe: Common law countries: using trusts to protect mobile money customers; central bank as protector. (https://ssrn.com/abstract=2612454)/ civil law countries (trust is not there: a mix of mandates, fiduciary contracts & direct regulation, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2713612).
(2) Consumer protection (network)-->recourse mechanism
(3) Money laundering & terrorism
[video 2.5] RTGS- real time gross settlement- how RTGS supports FinTech? i.e. peer-to-peer transaction: Venmo, peer-to-peer lending (speed & convenience). a critical layer for FinTech, including blockchain and API.
[video 2.6] ABCDs for FinTech- AI, Blockchain, Cloud, Data.
Cloud- new business models: SaaS (software as a service), IoT
Block chain- a ledger that is distributed via a peer-to-peer network which records transactions by way of blocks. Data on the block is immutable and effectively cannot be altered unless all prior blocks in the chain are altered by consensus.
:DAOs (distributed autonomous organizations)
AI- different strands in AI: natural language processing v.s. machine learning
[video 2.7] real-time instant payment between individuals/ companies both through or outside of banking system. (disintermediation) new payment infrastructure supporting investment, e-commerce and lending. (open banking in EU for new entrants, tech firm and startups)
[video 2.8] cryptocurrencies- resolved the double-spending issue. Features: decentralized, instantaneous, low cost, borderless, fixed supply. Challenges: not user-friendly, not eco-friendly, volatility, etc.
[video 2.8.1] blockchain+smart contract technology. what law rules? too many rules which may even conflict each other.
[video 2.9A] cryptocurrencies= blockchain system+distributed ledger technology+cryptography (secure storage)-->proven then encrypt into blocks. security, permanence, and transparency.
[video 2.9B] smart contracts.
Permissionless blockchain: i.e. bitcoin/ open to public
Permissioned blockchain: pre-approved network
[video 2.9.1] standard chartered- Ripple investment: status visibility/ fee transparency
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