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Author: Martin Chorzempa
Publisher: PublicAffairs
ISBN: 1541700724
Category : Business & Economics
Languages : en
Pages : 258
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Book Description
Financial Times, Best Books of 2022: Economics The startling picture of how China’s revolution in finance and technology is changing both Wall Street and the way individuals manage their personal finances. The future of finance – the way Wall Street operates and how individuals manage their money - is on the verge of upheaval. And the force underlying the change comes from China, where finance and technology are being merged into a system with consequences that resonate far beyond China’s border. The changes of this global revolution in finance and technology - fintech - will be as powerful as those wrought in social media, retailing and advertising by giants such as Amazon, Facebook, Google, and Twitter, which have overturned how we shop and communicate. China reinvented money with lightning speed, transforming a backward, antiquated cash-based finance system into one centered on super-apps created by technology giants Alibaba and Tencent. More powerful than anything available outside of China, they allow their billion users to pay, borrow, invest, buy goods and services, travel, chat (and far more) all fused together in one mobile phone application. Think Facebook, Google, Twitter, Goldman Sachs, Amazon, J.P. Morgan Chase all rolled into one app. We in the West need to understand China’s cashless revolution for reasons ranging from the macroeconomic to issues of personal liberty: The cutting edge of finance is now in China, forcing major financial firms in the United States and the West to figure out how not to be left behind.. China’s cashless revolution is also a harbinger of our future if we let the genie out of the bottle and allow big tech to become big finance. As money goes digital and central banks around the world consider launching digital currencies, we may have both immense convenience and a frightening concentration of power that could violate our privacy, stifle competition, increase financial risk, and give big firms or the government more control over our financial lives. And, once this genie is out of the bottle, the struggle to put it back in may be impossible.
Author: Martin Chorzempa
Publisher: PublicAffairs
ISBN: 1541700724
Category : Business & Economics
Languages : en
Pages : 258
Get Book Here
Book Description
Financial Times, Best Books of 2022: Economics The startling picture of how China’s revolution in finance and technology is changing both Wall Street and the way individuals manage their personal finances. The future of finance – the way Wall Street operates and how individuals manage their money - is on the verge of upheaval. And the force underlying the change comes from China, where finance and technology are being merged into a system with consequences that resonate far beyond China’s border. The changes of this global revolution in finance and technology - fintech - will be as powerful as those wrought in social media, retailing and advertising by giants such as Amazon, Facebook, Google, and Twitter, which have overturned how we shop and communicate. China reinvented money with lightning speed, transforming a backward, antiquated cash-based finance system into one centered on super-apps created by technology giants Alibaba and Tencent. More powerful than anything available outside of China, they allow their billion users to pay, borrow, invest, buy goods and services, travel, chat (and far more) all fused together in one mobile phone application. Think Facebook, Google, Twitter, Goldman Sachs, Amazon, J.P. Morgan Chase all rolled into one app. We in the West need to understand China’s cashless revolution for reasons ranging from the macroeconomic to issues of personal liberty: The cutting edge of finance is now in China, forcing major financial firms in the United States and the West to figure out how not to be left behind.. China’s cashless revolution is also a harbinger of our future if we let the genie out of the bottle and allow big tech to become big finance. As money goes digital and central banks around the world consider launching digital currencies, we may have both immense convenience and a frightening concentration of power that could violate our privacy, stifle competition, increase financial risk, and give big firms or the government more control over our financial lives. And, once this genie is out of the bottle, the struggle to put it back in may be impossible.
Author: David Dollar
Publisher: Brookings Institution Press
ISBN: 0815739567
Category : Business & Economics
Languages : en
Pages : 210
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Book Description
Describes how China is in the lead in transforming finance for the digital age This book is the product of a joint research project between economists at the National School of Development, especially the affiliated Institute of Digital Finance, at Peking University and at the Brookings Institution. It investigates the impact of financial technology on job creation, income distribution, and consumer welfare in China. It also examines larger systemic issues such as monetary policy, stability of the banking sector, and international trade and payments.
Author: Richard Turrin
Publisher:
ISBN: 9781949642728
Category :
Languages : en
Pages : 402
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Book Description
Cashless dives into the design and use of China's new central bank digital currency.
Author: Asli Demirguc-Kunt
Publisher: World Bank Publications
ISBN: 1464812683
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals.The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Author: Ivana Bartoletti
Publisher: John Wiley & Sons
ISBN: 1119551900
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
Written by prominent thought leaders in the global fintech space, The AI Book aggregates diverse expertise into a single, informative volume and explains what artifical intelligence really means and how it can be used across financial services today. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned. Coverage includes: · Understanding the AI Portfolio: from machine learning to chatbots, to natural language processing (NLP); a deep dive into the Machine Intelligence Landscape; essentials on core technologies, rethinking enterprise, rethinking industries, rethinking humans; quantum computing and next-generation AI · AI experimentation and embedded usage, and the change in business model, value proposition, organisation, customer and co-worker experiences in today’s Financial Services Industry · The future state of financial services and capital markets – what’s next for the real-world implementation of AITech? · The innovating customer – users are not waiting for the financial services industry to work out how AI can re-shape their sector, profitability and competitiveness · Boardroom issues created and magnified by AI trends, including conduct, regulation & oversight in an algo-driven world, cybersecurity, diversity & inclusion, data privacy, the ‘unbundled corporation’ & the future of work, social responsibility, sustainability, and the new leadership imperatives · Ethical considerations of deploying Al solutions and why explainable Al is so important
Author: Tarun Chhabra
Publisher: Brookings Institution Press
ISBN: 0815739176
Category : Political Science
Languages : en
Pages : 430
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Book Description
The global implications of China's rise as a global actor In 2005, a senior official in the George W. Bush administration expressed the hope that China would emerge as a “responsible stakeholder” on the world stage. A dozen years later, the Trump administration dramatically shifted course, instead calling China a “strategic competitor” whose actions routinely threaten U.S. interests. Both assessments reflected an underlying truth: China is no longer just a “rising” power. It has emerged as a truly global actor, both economically and militarily. Every day its actions affect nearly every region and every major issue, from climate change to trade, from conflict in troubled lands to competition over rules that will govern the uses of emerging technologies. To better address the implications of China's new status, both for American policy and for the broader international order, Brookings scholars conducted research over the past two years, culminating in a project: Global China: Assessing China's Growing Role in the World. The project is intended to furnish policy makers and the public with hard facts and deep insights for understanding China's regional and global ambitions. The initiative draws not only on Brookings's deep bench of China and East Asia experts, but also on the tremendous breadth of the institution's security, strategy, regional studies, technological, and economic development experts. Areas of focus include the evolution of China's domestic institutions; great power relations; the emergence of critical technologies; Asian security; China's influence in key regions beyond Asia; and China's impact on global governance and norms. Global China: Assessing China's Growing Role in the World provides the most current, broad-scope, and fact-based assessment of the implications of China's rise for the United States and the rest of the world.
Author: David Lee Kuo Chuen
Publisher: Academic Press
ISBN: 0128104422
Category : Business & Economics
Languages : en
Pages : 484
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Book Description
Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1: Cryptocurrency, FinTech, InsurTech, and Regulation explores recent advances in digital banking and cryptocurrency, emphasizing mobile technology and evolving uses of cryptocurrencies as financial assets. Contributors go beyond summaries of standard models to describe new banking business models that will be sustainable and will likely dictate the future of finance. The volume not only emphasizes the financial opportunities made possible by digital banking, such as financial inclusion and impact investing, but it also looks at engineering theories and developments that encourage innovation. Its ability to illuminate present potential and future possibilities make it a unique contribution to the literature. - Explores recent advances in digital banking and cryptocurrency, emphasizing mobile technology and evolving uses of cryptocurrencies as financial assets - Explains the practical consequences of both technologies and economics to readers who want to learn about subjects related to their specialties - Encompasses alternative finance, financial inclusion, impact investing, decentralized consensus ledger and applied cryptography - Provides the only advanced methodical summary of these subjects available today
Author: Albastaki, Yousif Abdullatif
Publisher: IGI Global
ISBN: 1799832597
Category : Business & Economics
Languages : en
Pages : 367
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Book Description
FinTech is encouraging various new practices, such as diminishing the use of cash in different countries, increasing rate of mobile payments, and introducing new algorithms for high-frequency trading across national boundaries. It is paving the way for new technologies emerging in the information technology scene that allow financial service firms to automate existing business processes and offer new products, including crowdfunding or peer-to-peer insurance. These new products cater to hybrid client interaction and customer self-services, changing the ecosystem by increasing outsourcing for focused specialization by resizing and leading to new ecosystems and new regulations for encouraging FinTech. However, such new ecosystems are also accompanied by new challenges. Innovative Strategies for Implementing FinTech in Banking provides emerging research exploring the theoretical and practical aspects of technology inclusion in the financial sector and applications within global financing. It provides a clear direction for the effective implementation of FinTech initiatives/programs for improving banking financial processes, financial organizational learning, and performance excellence. Featuring coverage on a broad range of topics such as artificial intelligence, social financing, and customer satisfaction, this book encourages the management of the financial industry to take a proactive attitude toward FinTech, resulting in a better decision-making capability that will support financial organizations in their journey towards becoming FinTech-based organizations. As such, this book is ideally designed for financial analysts, finance managers, finance administrators, banking professionals, IT consultants, researchers, academics, students, and practitio
Author: Ms.Longmei Zhang
Publisher: International Monetary Fund
ISBN: 1484389700
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
China’s digital economy has expanded rapidly in recent years. While average digitalization of the economy remains lower than in advanced economies, digitalization is already high in certain regions and sectors, in particular e-commerce and fintech, and costal regions. Such transformation has boosted productivity growth, with varying impact on employment across sectors. Going forward, digitalization will continue to reshape the Chinese economy by improving efficiency, softening though not reversing, the downward trend of potential growth as the economy matures. The government should play a vital role in maximizing the benefits of digitalization while minimizing related risks, such as potential labor disruption, privacy infringement, emerging oligopolies, and financial risks.
Author: Ms.Ratna Sahay
Publisher: International Monetary Fund
ISBN: 1513512242
Category : Business & Economics
Languages : en
Pages : 83
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Book Description
Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.
