Executives at big banks. Entrepreneurs at startups. Consultants with a dozen clients.
As we speak to more and more people about FinTech, we realize that very few of us have taken the time to understand the underlying principles and historical context of the things that we are working to modernize and transform.
Understanding these things won't give you superpowers. But, it could help you avoid an unnecessary experiment, understand something about human behavior, or find a model from the past worthy of being tried again.
This is the value we hope to create with 5-Minute FinTech. These pieces are not meant to be comprehensive deep-dives; rather, they are meant to start from first principles and question our basic assumptions about a topic we thought we understood.
People want to become wealthier to make them happier. But happiness is a complicated subject because everyone’s version of happiness is different. What is the common denominator in happiness? It's the feeling that you are in control of your life.
In 2009, Satoshi Nakamoto mined the genesis block of Bitcoin and ushered in a new era of financial innovation. More than a decade later, governments and central banks remain confused about the implications of cryptocurrency for the future of money.
Today, only about half of all small businesses offer a 401k plan, and a slew of startups are competing to make 401ks easier and more inexpensive for small businesses.
The meteoric rise of Compound Finance should cause bank executives to take note because crypto startups are beginning to recreate banking functionality - only without banks...or bankers.
Innovations in computing and telecommunication technology made data available in ‘real-time’.This is the essential ingredient of a core banking system. a centralized data center that distributed bank branches can access via software applications, in order to get real-time (or close to real-time) account information.