ncet tech bite | dusty wunderlich, fintech | nov 2016
TRANSCRIPT
Fintech: The Integration of Technology & Finance
Context: The Worlds Money and Markets
If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks… will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered….
The issuing Power Should be taken from the banks and restored to the people, to whom it properly belongs.
-Thomas Jefferson
Banking's Identity Crisis
Consumer Confidence in Banking is at a 30-Year Low
2008 Housing Crisis 2016 Wells Fargo Scandal
Who loves their bank like an Apple iPhone or new pair of Nikes? No One.
How Did We Get Here?
The Fractional Reserve Banking Fallacy
Fiat “Monopoly Money” Currency
The Story of Monopoly Money
More Money = Less Value
Stretching Dollars
Stagnant Wages + Higher Costs
Perils of Productivity
Business Consolidation Declining Business Investment Nationalized Marketplaces
Low Interest Money Used for Share Buybacks &
Dividends
Entrepreneurship down 50% since the 1970s
• Healthcare• Housing
• Education
Innovation Competition Income EqualityProductivity
The Currency & Trade Wars
Growing at All Costs
Runaway Inflation
Low Interest Rates & Low Returns
Decreasing interest rates creates increased demand. Increasing supply suppresses interest rates. Low interest rates lead to lower returns.
Financial Technology
Why Fintech Matters
Consumer Choice Ending Big Bank Monopolies
Efficiency Through Technology
Fintech is the culmination of technology, economic philosophy, and consumer freedom from financial institutions.
Blockchain
Blockchain: A public ledger of transactions. It is constantly growing as 'completed' blocks are added to it with a new set of recordings. AnonymousTransparent Efficient
Bitcoin and Blockchain Technology Explained
Tech Solutions to Bad Decisions
Fintech Today
Consumers Alternative Lending – leveraging new algorithms for better pricing.
Financial Management Programs – Easy-to-use apps to manage and track money.
Robo-Advisors – Machine-learning algorithms for high investment returns.
Sound Money –Safer transfers through transparent cryptocurrency.
Business Merchant Cash Advance & Factoring – Solutions for non-bankable businesses.
Payments Platforms – Easy-to-use payment platforms for merchants and consumers.
Alternative Lending – Expanding credit to viable consumers.
Fintech & A Better Economy
Democratizing Economies with a Healthier and Stable Global Marketplace Safe Money and Accurate Interest Rates
More Equitable and Broader Lending;
Increased Entrepreneurship and Innovation;
Fair and Free Trade;
Enhanced Competition & Productivity;
Increased Wages & Income Equality.
“Trust is a serious problem, we have to get to a new level of transparency – only through radical transparency will we get to radical new levels of trust.” -Marc Benioff, CEO Salesforce