FinTech Weekly Issue #376 - Making The Existing Model Obsolete

Issue #376 - Making The Existing Model Obsolete

2022-08-11

As Buckminster Fuller once said, things are not changed by fighting reality, but by making existing models obsolete. Fintech companies seem to adhere to this idea, and they’re really obtaining results. Despite those cases in which headlines are made by unsuccessful deals – see our top story – fintech proves to be resilient and extremely useful for businesses and entire markets. In this number of FinTech Weekly, you’ll discover how the real estate market is adapting to new technologies, how fintech companies are able to include the most rural communities in Africa, and how fintech is succeeding despite the war and the economic downturn. This and much more on FinTech Weekly, the free newsletter that makes you discover the most relevant fintech news and conferences.

Top Stories

Elon Musk challenges Twitter CEO Parag Agrawal to a debate on bots
Elon Musk challenges Twitter CEO Parag Agrawal to a debate on bots
via CNBC

The reason behind the decision of Elon Musk to terminate the acquisition of Twitter seems to be that the company shared false data. The billionaire challenged the CEO of Twitter, Parag Agrawal, to prove that the company has less than 5% fake daily users.

Crypto

Metaverse housing bubble bursting? Virtual land prices crash 85% amid waning interest

Metaverse

Metaverse housing bubble bursting? Virtual land prices crash 85% amid waning interest
via CoinTelegraph

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.

Six reasons why blockchain makes sense for commercial real estate: Deloitte

Blockchain Business NFT

Six reasons why blockchain makes sense for commercial real estate: Deloitte
via CoinTelegraph

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

The Reserve Bank of Australia to explore use cases for CBDC

Banking Cryptocurrency

The Reserve Bank of Australia to explore use cases for CBDC
via CoinTelegraph

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.

FinTech Automation Teams Up with Mastercard for Open Banking

Banking Business

FinTech Automation Teams Up with Mastercard for Open Banking
via Crowdfund Insider

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.

Innovation

Coverhero launches new API, eyes US

Business Future of Work InsurTech

Coverhero launches new API, eyes US
via Insurance News

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.

Podcasts and Videos

Inside Uganda's emerging fintech ecosystem

Business

Inside Uganda's emerging fintech ecosystem
via CNN

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

Fintech

5 reasons why Ukraine’s fintech sector is growing despite war

Business Investments Regulation Russia/Ukraine Conflict

5 reasons why Ukraine’s fintech sector is growing despite war
via TechCrunch

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.

Is The Green Economy The New 'Tech' Sector?

Business Opinions Sustainable Finance

Is The Green Economy The New 'Tech' Sector?
via Seeking Alpha

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.

Millions in the Middle East are unbanked. Can fintech platforms change that?

Banking Business Opinions

Millions in the Middle East are unbanked. Can fintech platforms change that?
via Fast Company

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.







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