What is Ethereum?
Ethereum is a worldwide network of interconnected computers (nodes) that enforce, execute and validate programs in a decentralized manner without requiring a server, memory, CPU power, or any other computing function, as it is all provided by thousands of ethereum nodes scattered across the world. In short, ethereum is a global computer. This global computer allows applications, called Decentralized Apps or DApps, through the use of smart contracts – simple javascript like code – to run exactly as they have been programmed, requiring no permission, having no intermediary, in a largely immutable manner, lacking any downtime, censorship, fraud, or third party interference. It further ensures the operation of ETH – […]
Fintech is driving growth and opportunities in Asia Pacific
According to analysis by KPMG International and CB Insights, US$4.6 billion in venture capital-backed fintech funding went to the Asia-Pacific region at the end of Q3 2016. Much of this investment went to China, driven by high mobile internet adoption rates and a tech savvy-millennial user base. Asian fintech sectors predicted to get VC interest this year include payments, regtech, data & analytics, and mobile. Adoption of mobile money and mobile payments in Asia will see the market encompass a range of demographics, from Chinese millennials with WeChat, to Sri Lankan retirees receiving pensions onto their Dialog eZCash mobile money account. Across Asia, fintech driven by regulatory ‘sandboxes’ are enabling financial institutions […]
China FinTech booms as mobile payments outpace US by 50x
New research has shown that Chinese mobile payments were around 50 times greater than those within the U.S. in 2016, thus illustrating that China’s FinTech market is a strong contender in the market. China Dominates the Mobile Payment Market Research from iResearch in China has found that Chinese third-party mobile payments more than tripled in 2016 to $5.5 trillion. WeChat Pay and Alipay, operated by Ant Financial, dominated the market. Recent research found that Alipay received the biggest investment in 2016 at $4.5 billion as FinTech funding increased in China. Whereas, in the U.S., mobile payments increased by 39 percent to $112 billion, according to Forrester Research. However, it’s thought […]
4 Reasons to use a Digital Wallet
Are you using a digital wallet? If not, you are not alone. Only about 13 percent of smartphone users have adopted digital wallets, the relatively new technology that allows our mobile devices to execute a myriad of financial transactions. But digital wallets are coming of age at a lightning pace. Companies like Due offer digital wallets that have streamlined the way we pay for things and get paid, and are changing the world of commerce itself. So if you have been slow to adapt to the word of digital wallets, here are four reasons to change your mind, and get a digital wallet today. Security Losing your wallet, or worse, […]
7 FinTech companies helping millennials dominate their finances this year
If you’re a millennial, you already know just how hard it is to get ahead. Student loan debt, much of which is shouldered by millennials, surged to $1.3 trillion dollars last year. That leaves the average college graduate ages 20 – 30 with a monthly payment of $351. And let’s not forget that, as of last year, a large percentage of millennials with a college degree were stuck working low-wage, dead end jobs. So, while many millennials are working hard to get out of debt, they struggle with low wages that make even keeping up with their bills that much harder Of course this news is depressing, but it’s important to note […]
Japanese megabank Mizuho to develop Fintech payments platform for IoT devices
Mizuho Financial Group has announced the development of a secure FinTech payment platform to be used by connected IoT (internet of things) devices such as connected cars and vehicles, smart home devices, wearables and more. It is one of the earliest efforts by a bank to provide account access to customers through smart devices beyond mobile phones and tablets. Japanese banking giant Mizuho, in a recent announcement, has announced its intention to conduct research and development to connect IoT devices to the bank’s IT system, over secure communications protocols. The aim is to bring more convenience and accessibility for customers who are moving away from traditional banking at branches toward […]
Parisian bankers target fintech catch up
After years of lagging behind London on spawning financial technology startups, Paris this week hosted a show of force aimed at proving the French capital can catch up as more than 1,500 bankers, investors and entrepreneurs gathered. The Paris Fintech Forum, which took place recently in the old bourse’s temple-like building, tripled its turnout from last year. With the UK’s vote to leave the EU seen as an opportunity for Paris to raise its game, executives from Societe Generale, insurer Axa and Spain’s Banco Bilbao Vizcaya Argentaria among others showed up to talk about potential in France. Just as London is Europe’s banking and finance centre, it has been centre […]
Wallet packed with loyalty cards? Solve the problem with Stocard digital wallet
Stocard, a leading mobile wallet app, has announced that it will use recently secured funding to expand its reach in the Australian market and launch a new mobile payment function. While digital wallets have been around in Australia for some time, what makes Stocard’s offering unique to existing mobile wallet apps, is the functionality that allows users to store all their loyalty cards easily in their smartphone, rather than in their wallets. Loyalty programs are becoming increasingly popular for Aussie shoppers, with 50% saying they’d be more likely to spend with a store that offers a loyalty program than with one that doesn’t, according to Nielson’s latest Global Loyalty Sentiment […]
