Cross Border remittances(CBR) expected to rise about $0.8 trillion USD. Numbers here are real big and yes this is a big deal. But since most of the world’s population now has access to the Internet or mobile phones, it is just a matter of time before the scales tip to
Similarly American insurance companies are coming up with insurance technology or Insurtech based on this childhood joke basing business cases on same concept, offering dental insurance and mouth insurance based on data taken from toothbrush tracking. Security & privacy is gone if security does not match the speed and pace. In the start of the post I mentioned technology is good and will happen without a doubt but other critical factors should also come along not only technology.
The elimination of physical cash from economy is feasible is purely a technological perspective or assumption. Our hard earned money and investments disappear into a labyrinth of financial instruments so mysterious that “money” almost becomes more of an idea than a tangible reality.
Financial Services Authority of Indonesia (Otoritas Jasa Keuangan or OJK) a government agency, which regulates and supervises the financial services sector, has finally issued a regulation on financial technology (Fintech) firms that run peer-to-peer (P2P) lending businesses in Indonesia. On the other hand Bitcoin penetrates deeper into Indonesian market, exciting times. In August 2016 in Tangerang, Indonesia OJK was preparing for regulations to support financial technology businesses. Financial regulators
To draw a rough sketch of exaggerated scenario of how these two technologies (AI & FinTech) may interact with us in the future and what warrants the, perhaps perplexing, 2 super powers. AI’s Control systems are widely used. They govern how a simple thermostat adapts to a target temperature.