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  • user 4:59 pm on August 16, 2016 Permalink | Reply
    Tags: , , , , , , , technology,   

    FinTech DACH News Rückblick der Woche 32 

    Fintech.Li präsentiert hier wöchentlich die wichtigsten #News rund um #Fintech in der Schweiz, Liechtenstein, Deutschland und Österreich.

    Fintech #DACH Top News


    Titelbild-CAS-Digital-Finance-HWZ-2016-05-23-375x530

    Überblick und Vergleich von Schweizer Nachdiplom Studiengängen in Digital Finance

    Diese Aufstellung hilft Euch bestimmt bei Eurer Entscheidung, solltet Ihr eine solche Ausbildung in naher Zukunft in Erwägung ziehen. Mehr erfahren

     


    SwisscomJohannesHoehener

     

    Swisscom setzt bei Fintech auf Kollaborationen
    Was Jungunternehmen mitbringen müssen und welche Arten der Kooperationen möglich sind, erklärt der Leiter des Clusters Johannes Hoehener. Mehr erfahren

     


    ds-fintech-tabletFinTech: Die wichtigsten deutschen Finanz-Start-ups
    deutsche-startups.de präsentiert deswegen die wichtigsten deutschen FinTech-Start-ups – unter anderem basierend auf dem eingesammelten Risikokapital, die Beteiligten Investoren und der generellen Marktbedeutung des Start-ups. Mehr erfahren

     

     


    fintecsystemsFinTecSystems – Millionen für digitale Bankauskunft
    FinTecSystems hilft Banken bei der Vergabe von Krediten und hat einen Millionenbetrag eingesammelt. Das Geld kommt unter anderem von einem französischen VC. Mehr erfahren

     



    DSwiss_500

    Avaloq kooperiert mit Zürcher Fintech-Firma
    Die Bankensoftware-Schmiede Avaloq erweitert ihr Angebot mit drei Dienstleistungen. Dazu zapft sie die Expertise eines Datenspezialisten an.. Mehr erfahren

     

     

    1-TkdtYPhbi2LRp8LFJkBY0w

    Erst Lizenz und dann Bauernfängerei: N26 wird zur vollwertigen Bank
    Das Banking-Startup N26 verspricht ein faires und transparentes Anlageprodukt. In Wahrheit aber lohnen sich die Konditionen vor allem für Kleinsparer nicht. Verbraucherzentralen warnen. Mehr erfahren

     

     

    Photo: Andrea Monica Hug

    Insurtech: Startup erhält Anschluss zur SBB

    Bei einer Schweizer Jungfirma im Versicherungsbereich steigt ein gewichtiger Kunde ein – die Bundesbahnen. Mehr erfahren

     

     

     

    girocard-kontaktlos-3-595x363Der dreifache Wahnsinn von „Girocard kontaktlos“, „girogo“ und „Geldkarte“

    Wieso die Geldkarte und Girogo an Wahnsinn grenzen, das neue Bezahl-Verfahren „Girocard kontaktlos“ sich beim Konsumenten durchsetzt – und die Sparkassen dabei leer ausgehen werden – erklärt t3n Redakteur Jochen G. Fuchs in seiner „E-Fuchs-Kolumne“. Mehr erfahren

     

    PayPal - Payment - Fintechnews

    PayPal in Deutschland: Dr. Frank Keller wird neuer Geschäftsführer – Arnulf Keese wird Partner eines VC

    Corporates und international agierende Finanzinstitute können die Innovationskraft von Start-ups und Fintechs nicht länger ungenutzt vorbeiziehen lassen. Start-up-Expertin Marie-Hélenè Ametsreiter und Erste Group-Vorstand Peter Bosek kennen die Bedürfnisse beider Seiten genau. Mehr erfahren

     


    Valentin Stalf

    N26 Valentin Stalf im Interview: Die neue Strategie der Digitalbank – Geschäftskonten ab 2017
    Im News-Dauerfeuer stellt sich Valentin Stalf, CEO der neugebackenen Bank, unseren Fragen rund um Altlasten und neue Pläne der N26. Mehr erfahren

     


    Aoutoscout24-516-e1470733147175-350x235Sofortkredit per API: AutoScout24 nutzt neuen Baustein der SolarisBank
    Habe die SolarisBank nun das Portal AutoScout24 an­ge­schlossen, um darüber per API Sofortkredite anzubieten. So könnten Autokäufer binnen weniger Minuten eine Finanzierung für den Gebrauchtwagenkauf erhalten. Mehr erfahren

     

     


    FinTech-Unternehmen-ThemenwolkeSocial Media-Analyse zur FinTech-Branche
    Der Aufstieg der Sozialen Medien in der zunehmenden Digitalisierung und die Finanzkrise führten zu einem Aufschwung der FinTech-Branche. Wir warfen mit Brandwatch Analytics einen Blick auf die Online-Gespräche zu diesem Thema.. Mehr erfahren

     


    Luka-Ivicev-Penta-450-350x394Betastart für Herbst geplant: Penta will den “Legacy-#Banks” die KMUs abnehmen
    Stealth-Mode nennt sich das. Jetzt aber bricht Co-Founder Luka Ivicev beim IT Finanzmagazin das Schweigen – und erläutert im Interview die Strategie des im Februar in Berlin gegründeten FinTechs. Mehr erfahren

     

     

    #BITCOIN / #BLOCKCHAIN News

     

    HONG KONG-LIFESTYLE-BITCOIN

    How the Tech Behind Bitcoin Could Revolutionize Wall Street
    Many believe the underlying #technology that powers bitcoin transactions, a system known as blockchain, has the potential to upend how Wall Street does business. Mehr erfahren

     

     


    handshakeBlockchain – ohne den sozialen Konsens geht’s nicht
    Dabei zeigen u.a. die zermürbende Blocksize-Debatte und aktuell die Ethereum-Fork, dass es beim Thema „Blockchain“ eben nicht nur um Technik geht, sondern auch um die Menschen, die sie verantworten und für die sie gemacht ist. Mehr erfahren

     

     


    Rino BoriniBanking wird in zehn Jahren komplett anders aussehen

    “Die Blockchain wird das Internet verändern und dafür sorgen, dass sich Geschäftsmodelle und -prozesse grundlegend verändern werden. Sie hat tatsächlich etwas Revolutionäres, denn sie kann Zahlungsverkehr, Kredite oder den Wertpapierhandel schneller und günstiger machen und vor allem auch Finanzinstitute abschaffen.” Mehr erfahren

     

    ÜBERSICHTEN / INFOGRAFIKEN / STUDIEN


    Top GERMAN STARTUPS - Aug 2016 Social MediaTop 30 FinTech Startups in Germany
    FntechNews has put together list of FinTech Startups in Germany. This channels are top profiles in the fintech hub that frequently update for the FinTech community. Mehr erfahren

     

     


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    Bain-Studie: Mobile-Banking verdrängt Online-Banking
    Mobile-Banking entwickelt sich weltweit zum entscheidenden Kanal für Bankgeschäfte und trägt wesentlich zu einer hohen Kundenloyalität bei. Mehr erfahren


     


    Bekannte-FinTechszeb-Studie: Versicherer überlassen Innovationen den InsurTechs – und warten ab
    Die deutschen Versicherungs­unter­nehmen fokussieren sich zu stark auf interne Themen wie Infrastrukturen und Prozesse und zeigen sich zögerlich, wenn es darum geht, Innovationen zu entwickeln. Sie drohen dadurch zunehmend den Anschluss an neue InsurTech-Trends zu ver­pas­sen. Mehr erfahren

     

    Fintech EVENT Hinweis

    Zum Abschluss noch Informationen in eigener Sache von Fintech.LI.

    ‎FinTech‬ Konferenz Liechtenstein 2016

    Ticketpreise: von CHF 149,99 für Startups und CHF 249,99 für alle weiteren Kategorien.

    Fintechnews Leser erhalten einen exclusiven Discount von 20% mit dem Code &8220;fintechnews20&8221;.

    The post FinTech DACH News Rückblick der Woche 32 appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     

  • user 3:35 pm on August 15, 2016 Permalink | Reply
    Tags: Attend, , , , , , , technology,   

    Top 5 London Fintech Events To Attend This Fall 

    Nearly two months after the Brexit vote, #London now has a new prime minister, a new government and a new outlook. The capital, the British economy, the rise of UK’s #fintech industry, and by extension all other aspects of financial services in Europe have been undergoing and adapting to these new tremendous changes.

    Many people are wondering if London will lose its title “the fintech capital of Europe”. For now, London’s fintech scene seems to remain strong and promising. Many fintech #events are set to take place in London for the rest of 2016. With these fintech events in London, the capital still keeps its position as a strong fintech hub in the region.

    Take a look at the outstanding fintech events in London #this #fall below:

    ROBO ADVISOR CONGRESS

    Robo Advisors Congress 2016

    Special Offer: 10% Off with code &8220;FTN10&8220;. Register NOW

    This One Day deep dive congress in London will bring together traditional Financial Services firms and the hottest emerging FinTechs from across the globe to plot the future of #Robo Advice and wealth management. Featuring discussions on target demographics, technological advances and platform differentiation, along with the opportunity to learn from translational case studies; the congress will highlight the opportunities Robo Advisors can present while addressing the challenges surrounding its optimisation and practical implementation. For more information, visit http://www.roboadvisorcongress.com

     

    Blockchain for Finance Conference LondonBlockchain

    Blockchain for Finance Conference LondonBlockchain

    The focus on global expansion and foreign investment makes Global Expansion Summit the ideal event platform for much needed discussion on the impact of Brexit on inward investment into the UK and FDI around the world. The event is extremely well timed and the audience and conference content particularly pertinent.

    In recognition of this, we are re-branding the show to Brexit & Global Expansion Summit. Our focus on ICT, BPO & Financial Services as well as the underlying theme of global expansion and digital transformation are still the essence of our event. However, we will be adding some Brexit focused content to the conference.

     

    LendIt Europe 2016 with the P2PFA

    lendit europe

    Special Offer: 15% Off with code &8220;FNS16VIP&8220;. Register NOW

    Where platforms and investors come to learn, network and do business. The 3rd annual LendIt Europe conference and expo will take place at the InterContinental London – O2. This year’s event will bring together more than 1,000 industry leaders and include the region&8217;s largest online lending expo with more than 2,500 square metres of exhibition space.

     

    European RegTech Congress

    European RegTech Congress 2016

    Special Offer: 10% Off with code &8220;FTN10&8220;. Register NOW

    The European RegTech Congress will provide a platform for the discussions really needed to move the space forward. With a dedicated track to exploring the realities of Regtech adoption, how to harmonise wide ranging platforms and the standards the #technology needs to meet. Our practical ‘RegTech in Action’ track featuring dedicated seminars on topics such as the impact the move to Mifid II will have and how RegTech can manage Post-Brexit uncertainty. For more information, visit http://www.regtechevent.com

     

    Brexit & Global Expansion Summit

    Brexit & Global Expansion Summit 2016

    Special Offer: 15% Off with code &8220;FNS16VIP&8220;. Register NOW

    The focus on global expansion and foreign investment makes Global Expansion Summit the ideal event platform for much needed discussion on the impact of Brexit on inward investment into the UK and FDI around the world. The event is extremely well timed and the audience and conference content particularly pertinent.

    In recognition of this, we are re-branding the show to Brexit & Global Expansion Summit. Our focus on ICT, BPO & Financial Services as well as the underlying theme of global expansion and digital transformation are still the essence of our event. However, we will be adding some Brexit focused content to the conference.

    The post Top 5 London Fintech Events To Attend This Fall appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     

  • user 4:54 am on August 15, 2016 Permalink | Reply
    Tags: , Diagnostics, Differential, , technology, , Zebras   

    Differential Diagnostics, Venture Capital & Zebras 

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    Yesterday evening I had dinner with a good friend of mine who is a world renowned cardiothoracic surgeon. I asked him if he followed a framework when dealing with each patient and he brought up the subject of #differential diagnosis. At its core, differential diagnosis is a method used to identify a disease when alternatives are possible while utilizing a process of elimination. A doctor will assess a patient in context (symptoms, patient’s history) and taking into account medical knowledge, go through a decision tree, starting from most likely diagnosis, eliminating each alternative until the right diagnosis is reached.

    There are two approaches to differential diagnosis. The specialist and the generalist approach. The specialist approach – used by a surgeon for example &8211; utilizes a sharp shooter technique, selecting from the most likely to the least alternative, one alternative at a time. The specialist approach is narrow and deep. The generalist approach &8211; used by a family doctor for example &8211; utilizes a broad brush technique, also selecting from the most likely to least likely alternative yet considering a group of alternatives together. The generalist approach is broad and shallow (and I do not mean this in a negative way).

    Medical doctors have to learn an incredible amount of historical knowledge and then have to practice extensively in live conditions, in hospitals, before becoming experts in their fields. The body of knowledge at their disposal does not change markedly &8211; it is not like we are inventing new diseases, ailments, different ways of breaking a bone on a regular basis. The medical tools, medical drugs at their disposal, and the medical techniques do change. So there is a constant “on the job” training occurring.

    The framework I use in #venture #capital strikes me as eerily similar to differential #diagnostics. First, I  am a specialist venture investor as I only invest in #fintech. It goes without saying that I need to develop a very deep understanding of the financial services world in order to be effective at my job. Without explicitly knowing &8211; it until now &8211; I have developed a sharp shooter approach, akin to the one used by my surgeon friend, that allows me to very quickly assess the merits of a payments startup for example. For each of the five sectors that comprise fintech &8211; lending, capital markets, insurance, asset management and payments &8211; I have a top 10 of &8220;things&8221; I look for for which the presence or the absence are a deal killer. I rarely need to go past thing 3 or 4.

    I use the sharp shooter differential diagnostic approach when I first encounter a startup. it is a way for me to eliminate the noise and get to the signs fastl. If I am still interested and impressed past this first stage, I will switch to a generalist differential diagnostic approach where I bunch groups of &8220;things&8221; and attempt to figure out, holistically adds systemically, patterns I like/do not like or that make sense/do not make sense, repeating the process until I eliminate the startup as a potential investment or I confirm my initial positive signal.

    Much like my surgeon friend who has to go through thousands of cases per year to hone his skills, I go through approximately 1,000 business models per year. This is the material I need, along with historical knowledge base I built over the years &8211; a mix of theoretical knowledge and many years of practice as both an operator and investor &8211; to keep current. The number of business models does not change at the margin that much, the number of ways a team should be built, how a startup should be scaled, a board should be architected &8211; all the business aspects of building a business &8211;  do not vary that much. What changes are the the technologies and how they are applied to specific business models. So I need to constantly learn that aspect to stay ahead.How AI, quantum computing, AR will be applied to fintech are my learning curves.

    I continue to apply both differential diagnostics frameworks during the lifetime of an investment, constantly toggling from one to another.

    I believe the best VCs are good at differential diagnostics. Not only because they master the framework and have built their own heuristics in their particular domains, but because they also know when to switch from sharp shooter to generalist differential diagnostics. That is a crucial skill. I also believe top VCs are more adept at applying differential diagnostics in context. By that I mean that &8211; taking a fintech example &8211; a US payments company may need a different sharp shooting approach than a EU payments company, while one may need the same generalist approach for both. It all depends on nuances relating to culture, jurisdiction, consumer/user behaviors, market structure. I tend to call these nuances &8220;terroir&8221;. Yes, I like wine. Knowledge of terroir will help you choose the right differential diagnostics approach at the right time, and load the right decision trees.

    I also believe specialist VCs have an edge over generalist VCs. To be clear, both need to master the two differential diagnostic techniques. The specialist VC will always have an edge with the sharp shooter technique given the required deep knowledge she needs to operate in only one field. This is especially important considering the changing VC landscape is currently experiencing: the rise of crowdfunding and angel investing on one end of the spectrum and that of corporate VCs, sovereign wealth funds, mutual funds and large PE funds on the other end of the spectrum may force traditional VC funds to specialize in order to retain an edge. Specialized VCs may be the way of the future.

    I am also well aware that medical doctors have an edge over venture capital investors when it comes to track records. On the evidence, declining mortality rates and improved longevity beat hands down VC-backed startup survival rates. This means that even with the best differential diagnostics tools and the most astute and timely ways to apply said tools and make a decision, venture investing is an extraordinarily difficult business to succeed in. There is much literature attesting to this fact. VC investing and startups building are ruled by power laws.

    I do not pretend to disprove nor fight this fact. What I do is try to refine the odds ever so slightly. For me this means to always have #Zebras in mind.

    Theodore Woodward, a 1940s professor of medicine coined the aphorism &8220;When you hear hoofbeats, think of horses not zebras.&8221; He meant that if you diagnose something &8220;normal&8221; applying your diagnostic tools, there is a great chance it is indeed a &8220;normal&8221; thing and not something else, something &8220;exotic&8221;.

    This works well in the medical field. Not so well in venture capital.

    Hence, if there is one thing that keeps me up at night, it is Zebras. Due to the unfathomable emerging properties of large systems, venture investing breeds many more Zebras than horses, even though you may have correctly diagnosed a horse from the beginning. By that I mean that you may start with a horse, but due to unforeseen circumstances, you end up with something else, a Zebra. Very few Zebras end up with positive outcomes. The great majority of Zebras experience neutral to negative outcomes.

    Thusly it is imperative to be paranoid about Zebras. I endeavor to excel at differential diagnostics which is a necessary requirement but not a sufficient one. Additionally I try to take risks I can measure in ways that attempt to mitigate negative Zebra effects. I shy away from entrepreneurs and startups that open themselves to fragility. I favor entrepreneurs and startups that strive to capture optionality and build antifragility. This means favoring entrepreneurs and startups that exhibit the right mix of #technology, business and talent (the necessary requirements) AND that will thrive during volatile business conditions OR that do not include business variables whose rate of change increases negatively as business conditions fluctuate. Examples of fragility would be a cost of acquisition that increases as the startup increases traction, churn that increases the more clients are acquired, a loan default rate that increases as interest rates increase, a technology build that increases in complexity even as the startup matures. I picked up fragility and antifragility concepts from Nassem Taleb, and encourage anyone involved in investing and startups to read his work. Much more could be written about how one can apply antifragility thinking to startup investing; for another post maybe.

    In as much as I apply differential diagnostics techniques to scrutinize the form and substance of a startup, my Zebra heuristics helps me understand the likelihood such form and substance will behave positively in dynamic situations. Not a perfect approach for sure.

    The best VCs excel at diagnosing the right horses then shunning the patently negative Zebras. This still leaves the field wide open for a variety of surprises.

    FiniCulture

     

  • user 3:35 am on August 15, 2016 Permalink | Reply
    Tags: , , , , , , , technology   

    Mobile-Only Challenger Bank Monese Releases iOS App 

    #Monese, a UK-headquartered mobile-only #challenger #bank, has launched its iOS app alongside a refreshed Android app.

    Monese lets you open a UK current account almost instantly even without a UK address or credit history, all through the app.

    Opening a Monese bank account is quite simple and only requires a snapshot of your passport and a selfie. Monese is available to customers located in Europe.

    The banking account comes with a (free) contactless Visa Debit card, which allows you to purchase goods and services online and in store, withdraw cash from ATMs globally, as well as deposit cash at any shop with a PayPoint.

    Monese Mobile Bank App Launches in iOSThe Monese app works pretty much like any other banking app: you can receive payments, send money at home or abroad (8x cheaper than using a traditional bank), pay your bills and manage your money on the go.

    Monese primarily targets immigrants, digital nomads and the expats community who often have to experience challenging tasks when opening a UK bank account as foreigners.

    Named ‘Best Challenger-Bank’ in Europe, the startup has been awarded €1.1 million by the European Commission for research and innovation.

    Monese, one of the first 100% mobile current account services to launch in the UK back in September 2015, is registered by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money.

    Since the UK&8217;s financial regulators loosened rules for new entrants in 2013, a host of startups have applied for banking licenses in order to take on the established lenders. Monese, but also Mondo, Atom Bank and Starling, have that one thing in common: they are all engaging with customers almost entirely through digital channels.

    In April, app-only bank Atom Bank launched its iOS app in the UK and is currently looking to replace passwords with biometrics banking. The company is authorized with restrictions by the Prudential Regulation Authority (PRA) and regulated by the FCA.

    Atom Bank is backed by BBVA, Anthemis Group, Polar Capital Holdings and Toscafund Asset Management, and has raised over US$ 170 million in funding so far.

     

    Digital banks and millennials

    In May, Viacom Media released results of a survey of over 10,000 millennials on their perception of banking. The survey found that 73% would be more excited about a new offering in financial services from leading #technology companies than from their own bank.

    Digital, Mobile Banking and Millennials

    Image: Millennial Generation by William Perugini, via Shutterstock.

    Engaging with millennials, a growing population of 80 million individuals in the US along with radically different expectations from their predecessors, has become a top priority for #banks. Growing up in the age of the Internet boom, millennials have ushered in the rise of mobile apps, crowd-source funding, digital peer-to-peer payments and online banking.

    According to the Millennial Disruption Index, 68% believe that in five years, the way we access money will be totally different and 70% say that the way we pay for goods and services will completely change in five years.

    Interestingly, 33% believe they won&8217;t need a bank at all in five years, and almost 50% are relying on tech startups to fundamentally change how banks work today.

    The post Mobile-Only Challenger Bank Monese Releases iOS App appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     

  • user 11:36 pm on August 14, 2016 Permalink | Reply
    Tags: , stock issuing, technology   

    The Inevitable Disruption: Issuing Stock on the Blockchain 

    AAEAAQAAAAAAAAkWAAAAJDVlNWY2MWZkLTMxMjQtNGJkMC1iMzBjLWM2MjczOWFhZWI5Ng

    Innovation has a history of paving the way for regulation in the long term.  In the shorter term there is a common theme of regulators pushing back in opposition of innovation.  This is not due to them wanting to prevent innovation (for the most part) but as a way to slow down trends so they have the proper time to be tested and prove they function as planned.

    A prime example of this occurring presently is the issuance of securities on the #Blockchain.  In the majority of circumstances this would be in violation of several security laws.  However, it is one of the most disruptive use cases of Blockchain #technology that has a high probability of being achieved within the next decade and is applicable to both private and public company stock.  While some innovators are afraid to enter this realm due to lack of clear regulation, many are not slowing their aggressive pace.  The Nasdaq has already began experimenting with this concept through a $20+ million combined investment in Linq along with countless start-ups working towards a similar common goal.

    If the current world markets are slowly transformed into running on Blockchain networks it changes the landscape to be less focused on monetizing through the intermediaries.  It is estimated that current back-office inefficiencies cost financial service companies a minimum of $20 billion per year so there is definitely a financial incentive for the implementation of a more efficient technology core such as Blockchain.  It would enable true peer to peer trading in a fast and secured environment thus eliminating the need for brokers, except in rare situations.  It also enables the instant verification of ownership and transfer making settlements t+0 and post-trade data available much quicker.  Once a company migrates or issues shares on a Blockchain network it also makes the implementation of smart contract technology a possibility which has the potential to increase efficiencies through the automated posting of margin (capital) requirements in real-time and automatic distribution of dividends and other mandatory market events.  Not to mention shareholder voting can easily be completed on a Blockchain network and trigger the automatic execution of a smart contract.  While all of this seems great and many want to see it happen tomorrow, something this disruptive is not going to happen overnight, it will slowly be phased in over years.

    While this implementation has process efficiency benefits for publicly issued stock, it completely changes the financial environment of start-up and private companies which as a whole typically have illiquid shares.  For those unaware of how start-ups typically work from a financial point of view, they issue shares to the founders when registering the company, then issue more shares for each investment round (take convertible notes out of the picture here for simplicity), and are often restricted to only accepting funds from accredited investors (individuals worth over $1 million or exceed annual salary requirements).  These shares are rarely every liquid and often restricted which means that investors cannot sell shares to someone else like they can with shares of a public company.  The investors do not normally receive any real return until a cash event occurs such as an acquisition, merger, or IPO.  Another aspect to take into account is that many start-ups structure their employee compensation to be a mixture of stock and salary.

    The conversion of private company stock to a Blockchain network is truly game changing to the entire process.  Start-ups would be able to issue shares to public investors (similar to an IPO) from the time of registration (new crowdfunding legislation is already shaping the path for this), these shares would be more easily transferrable thus creating liquidity in the market, and employees receiving compensation in a mixture of equity and salary would have the option to sell their shares prior to a standard cash event occurring.  There are several critical factors that would need to be addressed prior to this implementation being feasible such as: How would stock options work? What would happen to shares in the event of an acquisition? What auditing regulations need to be put into place? Can shares be revoked, etc.?

    So what is the downside to the conversion of stock to a Blockchain network?  Much of this technology is still largely untested in production environments so that will take time to ensure security and functionality.  Another major barrier is performance.  Current trading networks handle millions upon millions of transactions a day and need to be executed in milliseconds so latency is a concern.  Put aside the smaller concerns such as proper user/key management, and the final barrier is regulation that must be put into effect to even make this a possibility, but as stated previously, regulatory changes will happen with enough support of a Blockchain transformation, it is just a matter of time.

    [linkedinbadge URL=”https://www.linkedin.com/in/ian-m-worrall-1b599a59″ connections=”off” mode=”icon” liname=”Ian M. Worrall“] is Chief Executive Officer at Encrypted Labs | Blockchain Technology


     

  • user 7:36 pm on August 14, 2016 Permalink | Reply
    Tags: , , , , technology   

    Is Blockchain Adoption Gaining Momentum in the Enterprise? 

    AAEAAQAAAAAAAAdXAAAAJGU4ZjJjZjBhLTJiZjctNDc1Yi1hNjJjLWQ1NDRjZDJjOTE0Ng

    This article covers #blockchain, a distributed ledger #technology, its perception and the ambivalent (for now) adoption by corporate enterprises. Co-authored Converge VP investors Maia Heymann and Ash Egan.

    Most Fortune 500 companies are having extensive conversations, in CIO suites or in innovation labs, on whether the blockchain technology is right for them, and their peers – discussions on how their primary business lines might be affected by the technology, current solutions, and the areas (or consortia) to invest in. Distributed ledger standardization is far from reality, and although there are promising developments in #Bitcoin adoption and corporate blockchain experimentation, it’s still not clear when (or how) enterprises will ramp-up pilots and accelerate commercial-grade adoption. Some sectors like financial services are far ahead in exploration and testing, but general skepticism and even a misunderstanding are slowing blockchain’s future as a widely-adopted disruptive technology.

    After attending Consensus 2016 in NYC, and a few blockchain enthusiast dinners at MIT, it’s clear that established corporate players are exploring and investing in both forms of blockchain: permissioned and public. The Consensus conference, hosted by Coindesk was packed with #fintech executives as well as Bitcoin and blockchain vendors and voyeurs—our term for IT buyers looking and not buying. Theories and opinions regarding the direction of blockchain technology are as varied as the attendees.

    A corporate IT buyer’s reticence regarding blockchain is understandable. First, it’s challenging to explain the blockchain to senior management; it is a technology that no one owns, no single party is accountable for, and it’s based everywhere and nowhere. Second, Bitcoin’s rocky road is perceived as a cautionary prelude to what could go wrong with a distributed governing body. A recent New York Times article publicized that over 70% of the transactions on the Bitcoin network were going through just four Chinese companies (data assembled by Chainalysis [1]). In short, there is apprehension around limited to zero control, or too much control in the wrong hands, for a corporate IT buyer to join an open, permission-less system.

    Despite doubts around practicality, security and utility within blockchain’s open, permissionless system, start-ups, new consortia, and corporate players are advancing the technology through ‘closed’ experiments to test blockchain’s potential applicability. These early tests are being supported by venture capitalists globally, and Olga Kharif says $1.1B has been invested to date in startups commercializing blockchain in “Blockchain Goes Beyond Crypto-Currency”.

    Corporate business use-cases have the potential to generate improved margins and provide customer/client benefits in transaction-based industries: peer-to-peer payments, identity management, cross-boarder trade, and solutions within commercial payments and finance. One large insurance firm commented: “Broadly, the use-cases of Blockchain in transaction processing are most likely to be implemented early across the industry – the range of solutions that exist today are quite rich, from faster international transfers to more efficient settlements on exchanges, this is the area that appears to be the most promising in the near term.”

    Backing-Up, What Is Blockchain? Bitcoin to Blockchain

    Blockchain, born out of Satoshi Nakamoto’s 2008 whitepaper “Bitcoin: A Peer-to-Peer Electronic Cash System” is a distributed database, a decentralized and shared public ledger of time-stamped transactions within a network, open for review by anyone within the network. “The Business Blockchain” by William Mougayer uses a three prong approach to defining the blockchain: technical: back-end database that maintains a distributed ledger, openly; business: exchange network for moving value between peers; legal: a transaction validation mechanism, not requiring intermediary assistance (pg 4).

    Bitcoin, powered by the blockchain, is a virtual crypto-currency allowing peer-to-peer payments for network members – becoming the first manifestation and widespread adoption of the technology. The crypto-currency began as an open source project, and requires the network to confirm transactions – a key component of its decentralized nature. Currently, Bitcoin is maintained by a small group of developers called theBitcoin core. This group is responsible for pushing updates and progressing the network, while Bitcoin network members (miners) power transactions.

    Each participant (or node) puts the transactions into blocks and blocks into a single chain, and stores a complete record (or ‘proof’ system), protecting the integrity and veracity of all transactions in the chain. The system is anonymous, and through its mathematical proofing system eliminates the need for an intermediary or for third-party verification. The network resolves the conflicts so all nodes have the exact same copy of the distributed ledger. The collective effort of Bitcoin’s network made up of computers and servers all over the world, provides the compute power.

    While millions of Bitcoin transactions have occurred (surpassing $10B in market value), corporations and financial institutions remain skeptical due to the absence of regulation, the perception of proximity to criminal activity, a slow moving ‘governing’ body from Bitcoin core, and the concentration of power and control of miners (presently with four Chinese companies). These issues among others compound to call into question Bitcoin’s independence and decentralization. The skepticism, however, is evolving into recognition of the underlying technology’s potential, and as Goldman Sachs’ Robert Boroujerdi said, “Bitcoin was just the opening act.”

    In line with Boroujerdi’s comments, William Mougayar points to the blockchain technology, as being as innovative as the Internet in ‘The Business Blockchain’: “the blockchain is part of the history of the Internet. It is at the same level as the World Wide Web in terms of importance and arguably might give us back the Internet, in the way it was supposed to be: more decentralized, more open, more secure, more private, more equitable, and more accessible”.

    Why The #Enterprise Cares About Blockchain

    Disruption. FOMO (fear of missing out).

    Applications of blockchain technology include (but are certainly not limited to) stock issuance, provenance, smart contracts, streamlining of loan underwriting, and payment transfers. Many industries will be impacted by both private distributed ledgers and crpytocurrency — agriculture, insurance, financial services, and even entertainment—almost all industries could find use-cases for the adoption of blockchain technology.

    As mentioned earlier, financial services companies are far ahead in exploration and testing blockchain technology. What became apparent via multiple conversations at Consensus 2016 is many corporates are exploring blockchain for fear of missing out (FOMO). Enterprises are opportunistically exploring and experimenting with side projects (via pilots), simultaneously suspect of relinquishing control and fearful of losing revenue associated with their intermediary or third-party verification business lines. As upstarts and even competitors adopt the technology and attest to its financial efficacy and cross-departmental value, the lure of not being left behind is strong. We’re seeing corporate buyers framing why and how the blockchain can theoretically and practically serve their companies’ needs. One large institution on the east coast said, “we are pursuing multiple ways to understand and leverage the technology – for instance [our] Ventures team looks at startups that leverage Blockchain and other cutting edge technologies. We are exploring multiple fronts in a coordinated manner.”

    The extent to which crypto-currency, public blockchain, and private blockchain applications are accepted and scaled by corporates remains unclear, but the signals are encouraging. A report from Santander anticipates cost savings up to $20B annually by 2022.

    Balancing Risk with Potential

    It’s no walk in the park to replace current infrastructure (mainframes), with a new system, whether that is blockchain or an alternative. The headache of adopting blockchain technology and connecting to legacy systems is not to be underestimated. Beyond understanding the potential cost savings of using blockchain’s system, buyers need to include the cost of migration in their calculus – evidence of this expense are the consulting firms who have set up entire blockchain practices. The Rubix Team at Deloitte, offers a “one stop blockchain software platform” and is an example of consultants being at-the-ready to contract with their clients to re-architect legacy technology and processes.

    For all of blockchain’s benefits, corporations are aware of the risks of Bitcoin and blockchain technology: a limited governing body; powerful and growing Chinese mining presence; executing transactions at scale in a decentralized manner; inherent security risks from new technology; the rise of hackers targeting sensitive data; and growing pain risks like the recent attack on The DAO. Government regulation will provide both challenges and benefits for corporations. As is often the case with new technologies in regulated industries, the regulatory agencies have to catch-up. The United States’ regulatory bodies are learning, and their stance on permission-less distributed ledgers (like Bitcoin) it is not yet clear. For instance, the Office of Foreign Asset Controls (OFAC) and Financial Crimes Enforcement Network (FinCEN) have the right to blacklist companies interacting with cryptocurrencies (Coincenter). Jamie Smith of BitFury commented at Consensus 2016 that engaging with regulators is necessary and even advised because “the regulators can either help you or hurt you” with respect to crypto-currency and blockchain adoption.

    Despite the risks, blockchain technology has the potential to radically change countless industries and give rise to new ones. Indeed, this technology is evolving from the obscure framework behind a crypto-currency to the newest technological frontier, and we are excited to continue to watch and see how corporates invest, participate, and innovate the world as we know it.

    [linkedinbadge URL=”https://www.linkedin.com/in/maiaheymann” connections=”off” mode=”icon” liname=”Maia Heymann“] is Investor at Converge Venture Partners, an enterprise focused early-stage tech VC with investments in Chainalysis, Podium Data, SmartVid.io, Talla, Wade & Wendy and other emerging technology companies.

    [1] Chainalysis is a Converge VP investment.

     

     

  • user 6:40 pm on August 13, 2016 Permalink | Reply
    Tags: Activity, , Emergence, , technology   

    The Emergence of Blockchains as Activity Registers 

    In this opinion piece, Antony Lewis argues that the term ‘distributed ledger’ needs clarifying due to the new emerging use cases for the #technology.
    CoinDesk

     

  • user 12:19 am on August 13, 2016 Permalink | Reply
    Tags: , , , , , , , technology   

    Citi Fintech Loses CEO Before It Launches a Single Product 

    #Citi #Fintech launched in the fall of 2015 to build the bank of the future, but it has yet to release a #product. Now Citigroup‘s innovation unit has lost its CEO. USAA announced today that Citi Fintech CEO Heather Cox was joining the bank as chief #technology and digital officer, a newRead More
    Bank Innovation

     

  • user 3:36 am on August 12, 2016 Permalink | Reply
    Tags: , , , , , , , technology,   

    FinTech DACH News Rückblick der Woche 31 

    Fintech.Li präsentiert hier wöchentlich die wichtigsten #News rund um #Fintech in der Schweiz, Liechtenstein, Deutschland und Österreich.

    Fintech #DACH Top News

    Oliver_Samwer

    Was geht da mit der Allianz und Rocket Internet?
    In einem gemeinsamen Interview geben Rocket-Chef Samwer und der Allianz-Vorstandschef ihre Zusammenarbeit bekannt. Rocket soll die Versicherung schneller machen. Mehr erfahren

     

    Immer mehr Konkurrenz für Banken aus dem InternetImmer mehr Konkurrenz für Banken aus dem Internet.
    Immer mehr Online-Unternehmen bieten Finanzdienstleistungen an. Konstruktive Diskussion bei der Unternehmertafel der Morgenpost. Mehr erfahren

     

    Geld braucht keine Bank - oder etwa doch“Geld braucht keine Bank” – oder etwa doch?
    Das Crowdlending-Unternehmen Lendico brilliert nicht mit Transparenz. Dass man in Deutschland aber ein komplexes Geschäftsmodell betreibt, ist am Ende auch der Regulierung geschuldet. Mehr erfahren

     

     

    savedroid-gruender-yassinDie Spar-App mit Totalkontrolle
    Die Smartphone-App Savedroid will alles über ihre Nutzer wissen. Das könnte der Tod sein für den Datenschutz &8211; oder seine Rettung. Mehr erfahren

     


    Foto-Knip-AG-Pokemon-Versicherung-1200-350x235FinTech Knip und die Barmenia bieten die erste Pokémon-Go-Gamer-Pol
    Der Hype um das Handyspiel “Pokémon Go” bringt die Versicherer auf den Plan. Auf der Jagd nach den Pokémon-Monstern erleiden abgelenkte Spieler immer häufiger Unfälle und Verletzungen. Mehr erfahren

     

    number26-invest-c-default

    Verbraucherzentrale rät Kleinsparern von N26-Anlageprodukt ab
    Das Banking-Startup N26 verspricht ein faires und transparentes Anlageprodukt. In Wahrheit aber lohnen sich die Konditionen vor allem für Kleinsparer nicht. Verbraucherzentralen warnen. Mehr erfahren

     

    ApplePay_500Graubündner Kantonalbank öffnet auch Apple Pay die Türe
    Neben der helvetischen Bezahl-Lösung Twint bietet die Graubündner Kantonalbank neu auch die Bezahl-App von Apple an. Apple Pay ist hierzulande nicht unumstritten. Mehr erfahren

     

    FinTech Avuba wagt Neustart Neue App für Banking mit “Spaßfaktor”, MasterCard und Social-Funktionen

     

    Fintech Avuba wagt Neustart: Neue App für Banking mit “Spaßfaktor”, MasterCard und Social-Funktionen
    Avuba lege den Fokus auf “hohe Produktqualität, einen ehrlichen Umgang mit Nutzern”, heißt es. Mehr erfahren

     

     

    Wien als neue Fintech Hauptstadt

    Wien als neue FinTech Hauptstadt

    Corporates und international agierende Finanzinstitute können die Innovationskraft von Start-ups und Fintechs nicht länger ungenutzt vorbeiziehen lassen. Start-up-Expertin Marie-Hélenè Ametsreiter und Erste Group-Vorstand Peter Bosek kennen die Bedürfnisse beider Seiten genau. Mehr erfahren

     

    Top-Fintech-influencers-In-GermanyFinTech Influencer Social Media Ranking in Deutschland
    Fintechnews präsentiert heute eine Liste von Fintech Influencern in Deutschland. Dies sind Personen die regelmässig und relevant die Fintech Community über Soziale Netzwerke auf dem Laufenden halten. Mehr erfahren

    Rechnung bleitbt beliebtPaydirekt: Deutsche Paypal-Konkurrenz kommt nicht in Fahrt
    Eigentlich sollte der Online-Bezahlservice Paydirekt der ganz große Wurf der deutschen Banken werden. Schließlich machen nahezu alle großen Geldhäuser im Bankenverband sowie seit Frühjahr auch die Sparkassen mit. Doch so richtig gut kommt der Service bei deutschen Nutzern noch nicht an. Mehr erfahren

    VERSICHERIXVERSICHERIX – der erste P2P-Versicherer aus der Schweiz
    Die Funktionsweise wird auf der Website simpel mit folgenden Worten erklärt: „Versicherung auswählen, Freunde finden, Geld sparen, VERSICHERIX lieben!“. Mehr erfahren

    Cashcloud-Chef Moritz HunzingerEx-Promi-Berater Moritz Hunzinger bei Notverkauf erwischt
    Eines hat sich in der Zwischenzeit allerdings kaum geändert: Auch auf dem neuen Posten agiert Hunzinger offenbar mit nicht allzu viel Fortune. Mehr erfahren

     

    #BITCOIN / #BLOCKCHAIN News

    zurichZurich, Emerging Fintech and Blockchain Hub For Startups
    Switzerland, Zurich in particular, is a home to many of the digital currency industry’s leading startups and organizations including Xapo, Ethereum, Metaco, and Lykke. Mehr erfahren

     

    brian amstrongCoinbase CEO Admits There Could Be Bugs in Ethereum Hard fork, Celebrates Combined Value of ETH and ETC
    “My hope is to see hard forks as an elegant upgrade/voting mechanism, not something to be feared that results in multiple coins,” Brian Armstrong, founder and CEO of Coinbase, wrote on the popular social media platform. Mehr erfahren

     

     

    Ethereum valuesThe Three Value Propositions of Ethereum Classic

    A small group of miners continued to use the original blockchain as a protest for what they depicted as a bailout of the defunct project.This movement picked up steam when exchanges began listing the #cryptocurrency, known as ethereum classic (ETC). Mehr erfahren

     

    bitcoin hackBitcoin-Hack: 70 Mio. $ einfach weg
    Nach dem neuerlichen Raub von einer Bitcoin-Börse büsst die digitale Währung massiv an Wert ein. Es wird gerätselt, wie der Hack zustande kam. Mehr erfahren

     

    ÜBERSICHTEN / INFOGRAFIKEN / STUDIEN

    Blockchain TechnologyBlockchain #Technology Is Changing The Digital World As We Know It
    Bitcoin opened the door using blockchains for the first cryptocurrency, and now Ethereum is broadening the horizon of blockchain technology with what it’s calling Smart Contracts. Mehr erfahren

     

    Oliver_Wyman_Policen-Direkt_Insurtech-Radar-Titel-350x462Viel Lärm um Nichts? Studie zu Gewinnern und Verlierern unter den InsurTechs
    InsurTechs werden die Ver­sicher­ungs­wirt­schaft verändern. Doch wie laut ist der Weckruf der InsurTechs wirklich? Mehr erfahren

     

     

    Fintech EVENT Hinweis

    Zum Abschluss noch Informationen in eigener Sache von Fintech.LI.

    ‎FinTech‬ Konferenz Liechtenstein 2016

    Das Early-Bird Angebot für die Fintech Liechtenstein Konferenz ist mittlerweile ausgelaufen und die Tickets sind ab Anfang August für den regulären Preis von CHF 149,99 für Startups und CHF 249,99 für alle weiteren Kategorien erhältlich. Ausserdem steht das komplette Programm mittlerweile fest und der Ablaufplan wird zu Beginn der nächsten #Woche auf der Homepage zu finden sein Fintech.

    Fintechnews Leser erhalten einen exclusiven Discount von 20% mit dem Code &8220;fintechnews20&8221;.

    The post FinTech DACH News Rückblick der Woche 31 appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     

  • user 3:35 pm on August 11, 2016 Permalink | Reply
    Tags: , , , Bücher, , könnte, lesen, , Sommerferien, technology   

    15 Fintech Bücher die man (in den Sommerferien) lesen könnte 

    Fintech Bücher für die Sommerferien

    #Sommerferien bieten viel freie Zeit, die man nutzen kann um mal wieder ein Buch in die Hand zu nehmen. Insbesondere, wenn man sich ein Basiswissen aufbauen will und sich mit den neuesten Trends und Entwicklungen basierend auf breit ausgelegten Forschungen und Interviews auseinander setzen möchte, sind #Bücher die erste Wahl.

    Im Folgenden werden 3 #Fintech Bücher vorgestellt, die sich perfekt als wissenserweiternde Sommerlektüre eignen. Wer mehr braucht dem stehen 12 weitere Fintech Lektüren am Schluss zur Verfügung.

     

    Bank 3.0: Why Banking Is No Longer Somewhere You Go But Something You Do –Brett King

    bank-3-0-b-iext22060475Brett King, Autor und Gründer von Moven, der im Jahr 2010 „Bank 2.0“ herausbrachte kam bereits zwei Jahre später mit „Bank 3.0: Why Banking is No Longer Somewhere You Go But Something You Do“ zurück.

    In diesem Buch betrachtet King die neuesten Trends, welche zukünftig die Finanzdienstleistungen und den Zahlungsverkehr neu definieren sollen. Themen, die unter anderem angesprochen werden sind mobile Geldbörsen, HTML 5, Tablets, Cloud Computing und der „bankenlose“ Verbraucher. In „Bank 3.0” bietet King Lösungen für alltägliche Bank-Probleme und zeigt die immer größer werdende Lücke zwischen Kunden und Finanzdienstleister und damit auch verbunden die vielen Möglichkeiten für neue Nicht-Bank Konkurrenten.

     

     

    Digital Bank: Strategies to Launch or Become a Digital Bank &8211; Chris Skinner

    51-JCL2gPNL._SX335_BO1,204,203,200_“Digital Bank” beschreibt die Innovationen im Bereich Banking und wie das mobile Internet die Dynamik zwischen Kunden und Unternehmen mit ihren Banken verändert. Die Aussage ist, dass Banken digitalisiert werden müssen. Dies stellt aber eine Herausforderung dar, da eine Digital Bank auf neue Services zugreifen muss, die sich auf Technologien des 21. Jahrhunderts spezialisieren.

    &8220;Digital Bank&8221; enthält nicht nur umfassende Anleitungen und Hintergrundinformationen über die digitale Revolution im Bankensektor, sondern auch eine gründliche Analyse der Aktivitäten etablierter Banken wie Barclays in Großbritannien und mBank in Polen, als auch Start-Ups wie Metro Bank und neue disruptive Bankenmodelle wie die FIDOR Bank in Deutschland.

     

    The Fintech Book – edited by Susanne Chishti und Janos Barberis

    The FINTECH Book&8220;The Fintech Book“ bietet einen primären Leitfaden für die Finanztechnologie-Revolution beziehungsweise Disruption und den damit verbundenen Möglichkeiten die sich dadurch ergeben. Geschrieben von weltweiten Führern im Bereich FinTech fasst dieses Buch die kritischen Erkenntnisse und Informationen aus erster Hand in einem einzigen Band zusammen und gibt Unternehmern, Bankern und Investoren die Antworten, die sie benötigen um von diesem lukrativen Markt zu profitieren.

    Durch die vielen verschiedenen Themen, die analysiert werden, wie beispielsweise B2B-Transaktionen, Identitätsdiebstahl, Crowdfunding oder #Robo Advisors, stellt dieses Buch eine gute Basis für jeden dar, der sich mit FinTech auseinander setzen möchte.

     

     

    12 weitere lesenswerte Bücher im Bereich Fintech sind:

    Weitere Fintech Bücher finden Sie hier 

     

    Für genauere Informationen zu diesen und auch weiteren Büchern siehe &8220;The 10 Best Fintech Books To Have In Your Library&8221; und &8220;9 (More) Fintech and Blockchain Books To Have On Your Bookshelf&8221;.

    The post 15 Fintech Bücher die man (in den Sommerferien) lesen könnte appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     

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