What we read this week: June 2, 2017
Here’s why the Bank of Canada isn’t ready to rely on blockchain technology. Also, read about the most innovative companies in finance and why fintech is so hard to regulate.
Changing the world of finance
Twelve experts talk about the fintech tools and software that are causing a fundamental shift in financial services. Forbes: Fintech tools that can change the world of finance
Peer-to-peer lending directly connects borrowers and lenders through a platform that cuts out the traditional lending institutions. This gives lenders an opportunity to focus their dollars in a specific direction and borrowers an additional source of funding.
Innovation and finance
From digital money to investment-centric social networks, the financial services market is constantly evolving. Fast Company: The 10 most innovative companies in finance
Providing robo-advice in a down market
Most robo-advisors haven’t been around long enough to endure a serious market downturn. How will investors react? Investment News: Communication is key to robo-advisors’ plans to keep their clients on track in a downturn
BoC backs away from blockchain
The Bank of Canada has decided distributed ledger technology isn’t yet mature enough to run its interbank payment settlement system. BNN: Bank of Canada won’t use blockchain for interbank payments
“Blockchain is not a solution to every problem,” said Christian Catalini, an assistant professor at MIT’s Sloan School of Management. “The potential here is in the future – we’re talking five or more years.”
The regulatory challenges of fintech
Key fintech advances, including distributed ledger technology such as blockchain, require regulators to devise new strategies for oversight. Reuters: Fintech’s decentralized nature challenges regulators as industry transforms banking