AI and blockchain are the keys to a banking future which starts in the computing cloud
From open banking to consumer experience to, yes, blockchain, the hardcore of the technologies that make finance and payments run dominated my experience Wednesday at Money20/20 Asia.
I heard presentations on the guts of financial systems and how to make them scale larger at less cost and greater security. I met also with vendors seeking to make payments, lending, and investment with both current and cryptocurrencies. No easy technical tasks.
Money is a near-universal social institution. It evolved to support human cooperation and to control and coordinate the life of humankind. Like other core institutions, such as marriage and language, the forms that money takes may differ widely. The values and norms governing money’s use, and the practices associated with it, also vary widely.
For the individual, money is also a psychological symbol. Money allows each person to enjoy the fruits of others’ work. For many billions of people, obtaining money is the sole purpose of their everyday life.
Quad/Graphics, the American printing company, was founded near Milwaukee, Wisconsin in 1971 by a husband and wife team. Harry and Betty Quadracci saw advantages in a family approach to doing business coupled with a long-term outlook and a willingness to innovate. Today, Quad/Graphics is a $4B company with facilities all over the US and around the world.
The recent removal of term limits for the presidency from the Chinese Constitution represents a further tightening of President Xi JiPing’s grip on power. While he was not up for reelection until 2019, term limits were an obstacle to his grandiose plans for establishing China as a major economic, military and political superpower over the next few years or even decades. While the rise of China as a global power was inevitable, it has been facilitated by the vacuum left by the rapid decline of the U.S. global position under President Trump.
International FinTech startups are looking to the United States as a vast consumer and business market for their applications and services. Despite the difficulties posed by a dual regulatory system, in which multiple federal regulators join agencies in all 50 states, the wealth and size of the market beckons.
The news that Amazon, Berkshire Hathaway and JP Morgan Chase joined forces to create their own healthcare company rocked the industry. The ten largest health insurers and pharmacy businesses lost $30B in market value in two hours.
California teachers have teamed up with an East Coast activist hedge fund to petition Apple Inc. to step up its game and give parents the tools and choices they need to ensure smartphones don’t damage children’s health. Together, CalSTRS and JANA Partners are turning an old adage on its ear about gifting shiny apples to teachers.
I am sharing my article on security challenges in the Dominican Republic, just published (in Spanish) in Guarnicion, the journal of the armed forces of the Dominican Republic and the English-language adaptation of the article was published by the eJournal IndraStra. The full text of the English adaption of the article is listed below.
I am sharing my new editorial, just published by the news service UNIVISION. The work examines the PRC's expanding, increasingly self-confident engagement with Latin America and the Caribbean, as manifested in the recent China-CELAC summit in Santiago Chile. The work notes China's growing pursuit of political and security engagement with the hemisphere, as well as its surprising willingness to acknowledge its intention to move the region away from its relationships with the US and other "great powers."