Will fintech overthrow the forces that crashed our financial system?
Fintech is the segment of the technology startup scene that stands poised to disrupt the operation of money transfers, loans, mobile payments, asset management, and fundraising. Fintech has sparked the hope that finance will become more transparent and democratic. In the current setting, however, fintech may end up destabilizing our financial system just as financial innovation did a decade before. We cannot just sit back and hope positive change will happen.
In the view of Jonathan McMillan, the author of the recent book “The End of Banking: money, credit, and the digital revolution”, we urgently need to properly adapt the rules of banking to the digital age. Only then will the digital revolution unfold its creative power and transform our financial system for good.
In this London Futurists event, Jonathan shared his strong views on how to end the dysfunctional banking system and replace it with a transparent, decentralized, and modern financial system.
For more details of the event, see http://www.meetup.com/London-Futurists/events/232384444/. For more about the book “End of Banking”, see http://www.endofbanking.org/book/.
The event was chaired by David Wood and the camera was operated by Kiran Manam.
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