A world without money, AI and promise of big data, blockchain control and next gen finserv – FinTech Summary 80

This Monday we had our first Fintech dinner and I’m pleased to say that it was very successful. I was so impressed by the people attending, thank you very much for making it happen, and for reading fintech summary! We all learned something new, met someone fascinating and had fun in the process. While this was the first, it certainly won’t be the last fintech dinner. Just reply to this email if you want to join the list to attend any of the future ones. I’ll keep you in the loop 🙂

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Have a wonderful week,


A world without money
By Chris Skinner

Before this seismic change, money didn’t matter. We shared beliefs that allowed us to live together in relative peace, but the creation of money changed the balance of humanity. Some of us became more powerful, whilst others weaker. In fact, the biggest change between the first age and the second age is that it is no longer muscle that wins. It’s brains. The reason I’m writing this is that I’m wondering about the future of money. If money is a myth, created by governments to control the masses.  Then what happens if we have no money in the future? Stripping the world of the wealth focus and monetary controls could be an interesting future nirvana … or it could be anarchy and destruction.


Artificial intelligence: fulfilling the failed promise of big data
By David Weldon

The topic of artificial intelligence is dominating discussions of data management this year. But while a growing number of organizations are interested in AI, many don’t fully understand what the technology can do to help boost their customer engagement or the bottom line. AI promises to automate the process of understanding customers and anticipating their needs, then delivering the right experience to them at the right time. Organizations are hoping to impact the top line by acquiring new customers and increasing the value and lifetime of existing ones, and they’re hoping to impact the bottom line as well by reducing costs through automation. The primary challenge is and will always be the data. Data is the lifeblood of AI.


Who controls the blockchain?
By Patrick Murck

Blockchain networks tend to support principles, like open access and permissionless use, that should be familiar to proponents of the early internet. To protect this vision from political pressure and regulatory interference, blockchain networks rely on a decentralized infrastructure that can’t be controlled by any one person or group. Unlike political regulation, blockchain governance is not emergent from the community. Rather, it is ex-ante, encoded in the protocols and processes as an integral part of the original network architecture. To be a part of a community supporting a blockchain is to accept the rules of the network as they were originally established.


Financial services – the next generation … where is it?
By Chris Skinner

We have three major fintech models, each with their own unique blend of thinking. You have the Legacy West, the Growth East and the Innovative Emerging. If you’re looking for the next-generation financial system, you definitely will not find it in the Legacy West. That will show you the next generation of the existing system. You need to look to the emerging markets specifically, as they’re leapfrogging all of us. A great example is that the emerging economies will show us the next digital identity scheme, as this is critical to inclusion.

Also published on Medium.

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I'm a #26 Global FinTech influencer. An Economist by profession, I have worked on both sides of the table - tech startups and global financial organisations. I love football, technology, travelling and photography.