This Week in Fintech ending 1st November

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This week our experts brought you the following 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 Kryptonio and Weekly Columnist at Daily Fintech) @iliashatzis wrote ālea iacta est… PayPal crosses over to Bitcoin

When Julius Caesar crossed the Rubicon, he uttered the famous phrase ālea iacta est (“the die has been cast”). On the October 21st, we had one of those moments and passed the point of no return. PayPal, one of the biggest payment companies in the world, with a market cap of $240 billion, 346 million users and 26 million merchants will soon allow its customers in the  US to buy, sell and HODL Bitcoin, Bitcoin Cash, Ethereum and Litecoin. In a press release the company announced that its new cryptocurrency service will be available in the US. in the coming weeks and by early 2021 customers will be able to use crypto to shop with its network of 26 million retailers. PayPal is offering this service to its US customers, then plans to add more geographies and features over time. PayPal also plans to expand the service to Venmo, its peer-to-peer payment app popular with younger consumers, by the first half of next year. While the announcement is cause for excitement, there is one big problem with the new service. PayPal users won’t be able transfer their cryptocurrency into or out of PayPal, nor will users have control of the private keys. PayPal is not alone here, Robinhood, Revolut and eToro are all in the same boat when it comes to crypto ownership. While there are many places to buy crypto which and keep ownership of the coins, there is no question that the announcement of PayPal’s crypto service is huge piece of news and has the potential to bring millions and millions of new users to crypto world and propel Bitcoin’s usage beyond speculation.

Editor note: Ilias analyses the news that drove BTC/USD over $13k.

Bernard Lunn, CEO of Daily Fintech and author of The Blockchain Economy wrote: Cross border payments part 1: the competition is really, really old

This 4-part series on cross border payments starts by describing how the legacy competition works today as a way to segue to part 2 which describes why it is so expensive today. Part 3 looks at 4 types of Stablecoin disrupters. Part 4 looks at the adjacent markets for monetisation in the event that cross border payments fees go to zero.

These four posts will be published one week apart.

Editor note: Part 1 of 4 part series on a huge market that is about to undergo major disruption

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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 Universal Basic Income – A 40yr old UBI & the latest experiments

The social need for a Universal Basic Income and its social and economic implications have not subsided. UBI is not as hot as stablecoins and DeFi but there are more and more UBI pilots that are mushrooming around the world. I am noticing pilots that move into implementation and also UBI programs that were launched for a small part of the population and have now grown multiple times.

Most people know of the Swedish experiment that was not considered a great success. From experience and from the academic points of view, values and cultures matter because they shape the perceptions of self worth, purpose, and value add. At the same time, we live in an era during which values are shifting.

Editor note: Efi describe some of UBI initiatives around the world, including some private sector projects using cryptocurrency wallets and programmable money.

Wednesday Alan Scott Managing Director EMEA at 24 Exchange @Alan_SmartMoney wrote Stablecoin News for the week ending Wednesday 28 October 2020.

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

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Thursday

Rintu Patnaik, an Insurtech expert based in India, wrote: ILS: A Lone Wolf Among Securities, A Boon For Cat Covers

The ongoing pandemic stoked large corrections in equity, commodity and debt markets as players grappled with the full extent of its impact. At such times, insurance linked securities (ILS) are a boon, being mostly uncorrelated to mainstream financial markets. Since natural catastrophic ILS are driven by disaster events, there is no direct link to credit or economic cycle.

Editor note: The Cat in Cat Covers is short for Catastrophe. Read this to understand the innovators working in an arcane but lucrative niche of the Capital Markets known as ILS (Insurance Linked Securities) which are a form of Reinsurance.

Christian Dreyer @x3er, our Swiss based CFA who focusses on how XBRL changes our world wrote XBRL News: SEC enforcement, investment-grade sustainability data, invoicing

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

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Friday Howard Tolman, a well-known banker, technologist and entrepreneur in London, wrote: Alt Finance for week ended 30 October 2020

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

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