This Week in Fintech ending 15 May 2020

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this week in Fintech V3.001

This weekly summary from our 8 experts, brings you insights based on their experience as investors, entrepreneurs & executives.

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Your Editor is Bernard Lunn. He is also the CEO of Daily Fintech and author of The Blockchain Economy and occasional opinion columnist.

Monday Ilias Hatzis our Greece-based crypto entrepreneur (Founder & CEO at Mercato Blockchain Corporation AG and Weekly Columnist at Daily Fintech) @iliashatzis wrote Bitcoin: The fastest horse in the Derby

Billionaire hedge fund manager, Paul Tudor Jones recently announced that he’s betting on Bitcoin to hedge against inflation. Jones has taken a position in Bitcoin through his $40 billion hedge fund, buying Bitcoin futures on CME. Jones is known for trading everything from currencies to commodities, but he is famous for successfully navigating the stock market crash in 1987. Black Monday, as it’s commonly known, was a severe and unexpected stock market crash that struck the global financial market system, with Dow Jones losing almost 23% in a single day. Almost no one saw this coming, except for Paul Tudor Jones. Jones thinks that Bitcoin will be the biggest winner, as a result of the Federal Reserve’s current monetary policy. Since February, about 3.9 trillion dollars, the equivalent of 6.6 percent of global economic output has been printed. That’s insane, when you think about it. I could agree more with Jones. If you’re gonna ride in the Kentucky Derby, you don’t leave your prize stallion in the stable.

Editor note: one of the savviest hedge fund managers of all time has made the best case for Bitcoin as digital gold. Mainstream investors, who incline to the view that Bitcoin is crazy might listen to Paul Tudor Jones.

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Tuesday Efi Pylarinou @efipm our Swiss-based Fintech Adviser,  founder of Efi Pylarinou Advisory and a Fintech/Blockchain influencer – No.3 influencer in the finance sector by Refinitiv Global Social Media 2019 wrote Are Robo-advisors with no hedging gear, suitable for the 21st century?

I`ve been waiting for the quarterly Backend Benchmarking Robo Report, to gain insights into the US digital advisory market that is the largest by many metrics (AUM, # standalone fintechs, # incumbent offerings, years in the market, types of offerings). In the first quarter of 2020 on the `positive` side, we have seen a large funding of $112 for Stash which claims to have crossed the $1billion AUM and 4.5million customers. The race is on amongst standalone robo advisors to build a full stack offering that can include investing and banking services. Stash for example, the micro-investing fintech, has already added a debit card through Green Dot (see more about Stash here). Betterment, Acorns, Sofi, and soon Wealthfront have debit cards for their saving accounts.

Editor note: It is easy to call the end of the standalone Robo Advisor market but this post by Efi shows how innovation creates an edge for one standalone Robo Advisor.

Alan Scott Managing Director EMEA at 24 Exchange @Alan_SmartMoney wrote Is the long march to Digital Currencies and Stablecoins inevitable?

This weekly snapshot is the news that matters in the Stablecoin market.

Wednesday Jessica Ellerm @jessicaellerm, our Australia-based Fintech entrepreneur and thought leader specializing in Small Business and the Gig Economy & CEO/Co-Founder of Zuper, a new superannuation startup in Australia wrote UK’s Countingup and Pento Demonstrate How To Put The Customer First & Win

Innovation comes to the fore in times of need, and fintech companies around the world have been putting their skills to good use.

Given most individuals and businesses are asking themselves the same question – ‘what does this crisis mean for me, financially?’ – it makes sense that tools that help people and businesses answer this very question would some of the first examples of the problem/solution orientated thinking startups are renowned for.

Editor note:  It does not sound complex. Find a problem that really matters to your customers and address it. Yet so few companies do that. In this post Jessica looks at two Fintech startups that are doing that.

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Thursday Patrick Kelahan @insuranceeleph1, our US based Insurtech expert (a CX, engineering & insurance professional, working with Insurers, Attorneys & Owners who also serves the insurance and Fintech world as the ‘Insurance Elephant’) wrote Best to be a skilled juggler to be an insurer in today’s environment

It’s no longer just a water balloon; insurance has become a water balloon morphed with a Rubik’s Cube.  Squeeze here, bulges there, twist row here, colors change there.  Insurance is not a business for the faint of heart but needs to be an industry WITH heart.  Focus has been on COVID-19 issues but all those other perils and occurrences must still be attended and planned for, and the industry’s reputation- always a fragile characteristic- needs consistent effort to prop up.

Editor note: Insurance executives hiring expensive lawyers to think through the issues of denying coverage related to COVID-19 should take a few minutes to read this post by Pat.

Thursday Christian Dreyer @x3er, our Swiss based CFA who focusses on how XBRL changes our world wrote XBRL: AI against accounting fraud, XBRL in MD&A and the Open Information Model

Editor note: This weekly snapshot is the news that matters in the XBRL market.

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Friday  Sheldon Freedman, Fintech lawyer at Hassans International Law Firm

wrote:Security Tokens: Real Estate, tough competition, partnerships

Editor note: This weekly snapshot is the news that matters in the Security Token market.

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