This Week in Fintech ending 7th May

https://dailyfintech.com/2021/05/07/this-week-in-fintech-ending-7th-may/
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This week our experts brought you the following insights based on their experience as investors, entrepreneurs & executives.

Monday Ilias Hatzis our Greece-based crypto entrepreneur (Founder & CEO at  Kryptonio a “keyless” non-custodial bitcoin and cryptocurrency wallet, that lets users manage bitcoin and crypto, without private keys or passwords and Weekly Columnist at Daily Fintech) @iliashatzis wrote Ethereum – Ride the next rocket

The cryptocurrency market ended the week with a total market capitalization of $2.23 trillion. After one of its worst periods in 2021, this week ended with gains across the board (Bitcoin +14%, Ethereum setting a new ATH, XRP +52% and Binance Coin +28%). Ethereum was in the spotlight with a 30% increase in value and setting a new all-time high $2,976.42, setting the stage to break past the $3,000 threshold. At its current price levels, Vitalik at the age of 27 has officially become the youngest crypto billionaire. The price increase comes after the European Investment Bank (EIB) announced on Wednesday that it issued its first ever digital bond on the Ethereum blockchain, leading to increased speculation that Ethereun is gaining traction among mainstream financial institutions. Ethereum maintains the number two position with 15% of the current crypto market and its getting ready for a major upgrade that will allow faster transaction times and reduce the amount of power required to process transactions. While it trails Bitcoin significantly, Ethereum’s fundamentals seem stronger.

Editor note: A good case for allocating 50% of a crypto portfolio to Ethereum or 20% for the more cautious. The big game changer is Proof Of Stake which will appeal to Institutional Investors 

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Tuesday Bernard Lunn, CEO of Daily Fintech and author of The Blockchain Economy wrote: DeFi Part 1. Introduction to DeFi

Some subjects are too complex for our short attention spans, so we do 4 posts one week apart, each one short enough not to lose your attention but in aggregate doing justice to the complexity of the subject. Stay tuned by subscribing.

The reason to pay attention to DeFi is  a)  capital is flowing into DeFi  and b) DeFi could disrupt legacy finance, which is a massive opportunity. Starting with capital, during 2020 there was a 10x increase in capital deposited in various decentralized finance networks and VCs (such as Andreessen Horowitz, Bain Capital Ventures and Michael Novogratz) were pumping money into their early stage equity. By January 2021, approximately $20.5 billion was invested in these DeFi networks.

Editor note: This is the first of 4 posts on DeFi.

Wednesday Alan Scott Managing Director EMEA at 24 Exchange @Alan_SmartMoney wrote his weekly roundup of Stablecoin news.

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Thursday

Rintu Patnaik, an Insurtech expert based in India, wrote: How far can behavioral economics nudge up digital innovators?

Nobel Prize winning economist Daniel Kahneman, in the 1970s, studied biases in economic decision-making and how people handle risk, challenging the belief that humans behave rationally when making financial choices. The ensuing body of work that it spawned – “Behavioral Economics” – has become entrenched in business parlance, as rigorous research has demonstrated that understanding and anticipating biases can guide interventions to influence consumer behavior.  As regards finances, health or diet, people need just a little nudge to get them moving in the required direction.

Editor note: This translates to growth hacking code that drives people to click which further down funnel leads to revenue.

Christian Dreyer @x3er, the Swiss based CFA who focusses on how XBRL changes our world wrote his weekly roundup of XBRL news.

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Friday Howard Tolman, a well-known banker, technologist and entrepreneur in London, wrote: his weekly roundup of Alt Lending news.

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

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https://dailyfintech.com/2021/05/07/this-week-in-fintech-ending-7th-may/