Article: Digital Currency: The Future Of Your Money

Money, Open Governance, Standards

Digital Currency: The Future Of Your Money

Digital currency has the potential to completely change how society thinks about money. The rise of Bitcoin, Ethereum and thousands of other cryptocurrencies that exist only in electronic form has led global central banks to research how national digital currencies might work.

Digital currency is any currency that’s available exclusively in electronic form. Electronic versions of currency already predominate most countries’ financial systems. In the U.S., for instance, the physical U.S. currency in circulation is only about one-tenth of the overall money supply; the remainder is held in various bank deposits in electronic form.

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Article: How Banks Need To Be Using Fintech Post-Pandemic

Money, Open Governance

How Banks Need To Be Using Fintech Post-Pandemic

Thanks to COVID-19, companies are facing tough decisions about how to operate and what they want to become. For banks, this means looking closely at the relationship they have with fintech and considering what kinds of integrations or partnerships make sense. To continue offering the most value to both investors and customers, banks will likely need to embrace open banking and marketplace operations far more than they currently have.

Over the past 10 years, the bank-fintech relationship has been based on fear, curiosity, or pragmatism, at various points in time. The main concern banks had at first was that fintech would offer the same services banks do, which would lead customers to turn to fintech businesses instead of banks.

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