createch.iocreatech.io
Technology - Business - Design / Innovation Open
  • CREAtive TECHnology
  • BUSINESS Solutions
  • DESIGN Futures
  • βIO
    • βIO Vision
    • AICO Mission

The paradigm of Fintech and blockchain platforms

Mederic W3althCARE Global Fintech Ecosystem

The new paradigm of FinTech started ten years ago with startup solutions that have emerged following the financial crisis. Since then, tech leaders (BATX in China or GAFA in the USA) have leveraged their customer database to launch “TechFin” solutions. More recently, the banking industry is adopting FinTech or TechFin solutions opening its customer database and building financial services infrastructures to adapt to digital finance. Finally, blockchain technology is the last stage of this profound transformation creating an Open Finance ecosystem based on digital platforms.

1_3BgduyJzc7LBaZtsg-qHog

Banks are partnering through several consortia based on private / permissioned blockchains to develop digital platforms for trade finance such as Voltron or Marco Polo Network with Corda. We.trade and eTradeConnect collaboration is even creating a network of digital trade finance platforms between Europe and Hong Kong based on Hyperledger. Enterprise Ethereum is another private blockchain alternative based on the public blockchain Ethereum. In this way, ConsenSys partners with fifteen of the world’s largest banking and commodity companies to develop the trade financing network Komgo.

Financial markets consider using blockchain to improve trading processes. For example, the stock exchange HKEX is teaming up with Digital Asset to accelerate the post-trade process and reduce settlement risk for the Stock Connect (Hong Kong, Shanghai and Shenzhen Stock Exchanges collaboration). Capital markets also benefit from distributed ledger technology to exchange digital securitisation of underlying assets. Thus, FinFabrik is developing capital markets software for the financial institutions and Liquefy betting on Security Token Offering to transform illiquid assets into liquid assets.

This article is part of the Global Fintech Ecosystem series

The emergence of CreaTech Hubs Connecting Global Fintech Hubs to foster Financial Innovation

Related Posts

Hub, W3althCARE

The (Ethical) Paradigm shift of Fintech and Blockchain

W3althCARE

Are Digital Currencies the new Technological Power?

W3althCARE

The 5 key ethics principles of digital currencies & cryptocurrencies

Recent Posts

  • The Imaginal Power of Movies & Visual EffectsThe Imaginal Power of Movies & Visual Effects
    April 16, 2023
  • Mindful Technology Leadership for Tomorrow’s MoonshotsMindful Technology Leadership for Tomorrow’s Moonshots
    February 6, 2022
  • The Quantum Future of Information TechnologyThe Quantum Future of Information Technology
    July 5, 2021
createch.io
  • CREAtive TECHnology
  • BUSINESS Solutions
  • DESIGN Futures
  • βIO
    • βIO Vision
    • AICO Mission
© createch.io 2023
CreaTechIO is a Tech media created by MdbIO