IBS Journal November 2016
09
Next President must seize FinTech moment
on 8th November, Chris Larsen, CEO of blockchain startup Ripple, has called on President Clinton or Trump to put FinTech high up their agenda. In a blog post, Larsen argues that we’re at a magic moment, much like the one in the early 90s when the internet was formed. “As a nation, the tremendous opportunity we have is essentially the formation of a new internet, with the financial technology that will become our new infrastructure. Innovators are building the Internet of Value: a system that moves money as seamlessly as information,” he writes.
A
“We successfully seized a similar magic moment in the 90s and drove adoption and availability through innovation, smart regulation, and cooperation between Silicon Valley and Washington. In fact, the White House created the framework for electronic commerce that was adopted globally – and that we still use this today,” he adds. “It’s not guaranteed that the US will have the same competitive advantage this time around. Now, in the crucial nascent stages, I can already see that we face some significant disadvantages. Our centres of finance, regulation, and tech are separated by thousands of miles and key philosophical differences. Other global FinTech hubs like London and Singapore enjoy physical and ideological proximity, and can consequently concentrate their efforts more easily than we can. This race is theirs to win.”
s Americans get ready to head to the polls
The next President, therefore, needs to appoint a FinTech advisor. “Distributed financial technology provides us a pivotal, breakthrough moment and the nation that moves fastest to seize it will have leadership in the Internet of Value. If we are to stay on top economically, if we are to find a way to close the gap of economic inequality, this is the key. New technologies like blockchain will be a catalyst
to increase financial inclusion and lower the barriers to commerce…When I look at the future of this incredibly powerful technology, I’m confident that the Internet of Value will be truly transformative. But we can’t do it alone. We need the support of a well-informed administration in Washington to maintain our lead. When it comes to FinTech, this race is ours to lose.”
Scott Thompson UBS brings robo-advice to UK
service in the UK. Set to debut in November, this is part of a $1 billion initiative to help its wealth management business attract younger clients.
U
The Swiss FI will keep the minimum investment required for the new service to £15,000. It is planning to expand the offering to other parts of the world, starting with Europe and Asia in 2017.
BS is gearing up to launch a robo-advice
UBS manages $2 trillion of client assets, mainly for high net worth and ultra-high net worth people, typically those with at least $2 million and $50 million respectively to invest.
Scott Thompson
www.ibsintelligence.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52
