FinTech Weekly Issue #376 - Making The Existing Model Obsolete

Metaverse

It looks like the metaverse real estate is not immune to bubbles. Despite a McKinsey report, which predicted a $5 trillion-worth market by 2030, buyers are losing interest in metaverse properties, leading to a plunge in sales.

Blockchain Business NFT

In the meantime, according to a study shared by Deloitte, blockchain could take over 50% of the commercial real estate market. The irreversibility and high efficiency of this technology can make it easier to manage all the leasing and sales processes.

Banking Cryptocurrency

Universities, industry partners and the Australian Government are all cooperating to better understand how digital currencies can improve the Australian economy. The Reserve Bank has just announced a new project for CBDCs (central bank digital currencies): the pilot will last one year, so that all the organizations involved will be able to evaluate the project.

Banking Business

Fintech Automation is now a part of Mastercard’s Engage network. The goal of this program is to make it easier for businesses to access fintech and use open banking products.

Business Future of Work InsurTech

The Australian insurtech company Coverhero launched a new API (Application Programming Interface) that could be launched in the US next year. The company focuses on providing insurance products to the workers of the so-called gig economy.

Business

The fintech sector in Africa is thriving, and in Uganda, fintech companies manage to bring even rural communities into the fintech revolution.

Business Investments Regulation Russia/Ukraine Conflict

Ukrainian fintech companies proved to be extremely resilient. With a tradition of valuable fintech products and firms, the industry didn’t stop working and growing despite the war. This could lead to new investments and a stronger regulatory environment for the country.

Business Opinions Sustainable Finance

The green economy is constantly developing: despite its concentration in specific countries – like the US and China, it’s expanding across different industries, always more resembling a new tech sector.

Banking Business Opinions

The Middle East is home to 85 million unbanked people. Fintech companies and their simplified and innovative payment solutions, allow everyone to be a part of today’s economy: systems like the BNPL not only make it possible for people to purchase goods and services they need, but also to build their credit history.