Issue #371 - Metaverse Makes People Scratch Their Heads

Issue #371 - Metaverse Makes People Scratch Their Heads

2022-07-07

“[Eric Schmidt] appears to be among the Americans who roll their eyes – and scratch their heads – when imagining the metaverse.” An interesting choice of words: Megan Sauer used them to write about Eric Schmidt’s opinions about the Metaverse. The former CEO of Google shows us that it doesn’t matter if you’re among the “ordinary people” or a tech billionaire: Metaverse and NFTs are still unclear. Despite this, everyone is talking about – and maybe investing in – the Metaverse. This number of FinTech Weekly will show you that this is the hottest topic in the fintech industry – and that businesses need to know that if they want to thrive in the modern economy.

Top Stories

Chinese Tech Giants Alibaba, Tencent to Require ID Checks for NFT Purchases
Chinese Tech Giants Alibaba, Tencent to Require ID Checks for NFT Purchases
via Decrypt

Even if China took severe measures against the crypto space, limitations don’t involve NFTs – as long as they comply with national regulations: considered more as an expression of cultural creativity, NFTs – or digital collectibles – are the next big thing for Chinese tech giants. That’s why top tech companies issued a “self-disciplined development proposal”: even if not legally binding, it could force the government to clarify the regulatory framework concerning NFTs. Companies use private blockchains to develop collectibles: people can pay for them only using yuan, and trading is discouraged.

Why the time is right for more immigration-focused fintech
Why the time is right for more immigration-focused fintech
via AltFi

Misha Osipov, founder of the fintech firm Nova Credit, addresses an interesting topic: fintech-focused migrations. The country chosen by fintech enthusiasts is the UK: despite Brexit, the government seems to want to get back to “pre-Covid immigration levels.” The UK is not only the place where entrepreneurs find new fintech companies but also the place where you can develop fintech-related skills.

Crypto

Metaverse Becoming The Most Admired Venue For Retailers

Metaverse New business models NFT Web 3.0

Metaverse Becoming The Most Admired Venue For Retailers
via The Coin Republic

For all those who own a business, the Metaverse could be your next destination. The digital world is the choice of an ever-increasing number of companies – independently of their size – to set up the digital version of their firms. Despite this, go ahead to know what the ex-CEO of Google said about the Metaverse.

Ex-Google CEO Eric Schmidt: Despite Facebook’s big plans, ‘there isn’t an agreement on what the metaverse is’ yet

Metaverse

Ex-Google CEO Eric Schmidt: Despite Facebook’s big plans, ‘there isn’t an agreement on what the metaverse is’ yet
via CNBC

Eric Schmidt, the former CEO of Google, forces us to consider our level of knowledge about one of the hottest topics in the fintech space: the Metaverse. During the Aspen Ideas Festival, Schmidt admitted that despite the marketing efforts of tech giants to focus on the Metaverse – the reference to the choice of Facebook is evident – there isn’t a general agreement on what the Metaverse really is. His words are confirmed by a survey conducted by Axios, which reveals that most Americans are not sure what the Metaverse is.

Banking

Here’s what’s hot — and what’s not — in fintech right now

Banks Interviews Payments

Here’s what’s hot — and what’s not — in fintech right now
via CNBC

By analyzing venture capital firms’ choices, Ryan Browne identifies some hot fintech investments and projects that currently don’t attract investors. The focus is on businesses and the facilitation of payments.

Warba Bank Becomes 1st Islamic Lender To Enter The Metaverse

Banks Metaverse NFT Web 3.0

Warba Bank Becomes 1st Islamic Lender To Enter The Metaverse
via Bitcoinist

Warba Bank is the first company in the MENA region to enter the Metaverse. The bank chose Decentraland and Sandbox to join the digital world.

Innovation

The iPhone at 15: You wouldn’t have fintech without it

Opinions

The iPhone at 15: You wouldn’t have fintech without it
via AltFi

Maybe not everyone will agree, but Daniel Lanyon brings some interesting arguments to prove that fintech wouldn’t be the same without the iPhone. An interesting point of view, mainly because it addresses Apple, a company that has become every day more a fintech company.

Podcasts and Videos

News: Kroo lands coveted banking license, while Credit Suisse found guilty of money laundering

Banks Opinions

News: Kroo lands coveted banking license, while Credit Suisse found guilty of money laundering
via Fintech Insider

David M. Brear and Kate Moody are joined by Andrea de Gottardo (Kroo) and Jessica Cath (Fintrail) to discuss some of the hottest fintech news – among which is the banking license of Kroo, the UK-based fintech firm, and the recent legal problems faced by Credit Suisse.

Fintech

Every Company is now a Fintech Company

New business models Opinions

Every Company is now a Fintech Company
via Finextra

Today, any business that wants to be competitive needs to interact with fintech somehow, and that’s just the natural result of innovation.

Report Highlights Resilience for the Fintech Industry

Financial Instruments Investments

Report Highlights Resilience for the Fintech Industry
via VettaFi

Fintech has been the hottest sector during the pandemic, but now that the whole global economy is volatile and uncertain, fintech firms are suffering the blow. Despite this, recent studies show that fintech is resilient, thanks to innovation and its capability to address people’s needs even during hard times.

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