FINTECH SLIDES INTRO - LEC 3 QUESTIONS WITH
DETAILED VERIFIED AND 100% ACCURATE ANSWERS
Technologies of Fintech Correct Answers Social media
New economy
Big data
Mobile revolution
Blockchain
Cloud computing
Internet of things
Based on the 2007 PWC Global FinTech Report Correct Answers 88%
of incumbents are increasingly concerned they are losing revenue to
innovators
77% of Financial Institutions will increase internal efforts to innovate
82% expect to increase FinTech partnerships in the next three to five
years
FinTech Disruption Correct Answers Startups 75%
Financial Infastructure Companies41%
Traditional Financial Institutions 28%
Social Media Internet Platforms 55%
ICT and Large Tech Companies
Blockchain Timeline Correct Answers 2008
,A document is published online called 'Bitcoin: a peer-to-peer electronic
cash system'.
The document outlines how to build a digital currency that is secure and
transparent without a bank or central body. It's written by an unknown
person called 'Satoshi Nakamoto'.
2009
Satoshi launches Bitcoin in January 2009 as an alternative to the current
financial system and centres of power.
At 18:15 on 3 January Satoshi writes a hidden message into the genesis
block (first batch of payments): The Times 03/Jan/2009 Chancellor on
brink of second bailout for banks.
Interest starts to build about this new, truly peer-to-peer currency.
2010
Bitcoin Market, the world's first cryptocurrency exchange is set up.
The (now famous) Bitcoin Pizza Guy, Lazlo Hanyecz, makes the first
real world payment in Bitcoins (BTC). He pays 10,000 BTC for two
Papa John's pizzas. With the pizzas worth millions just a few years later,
May 22nd is officially crowned Bitcoin Pizza Day.
The (now infamous) cryptocurrency exchange, Mt. Gox, launches.
Bitcoin's market cap (total value) reaches $2bn.
2011
Silk Road, an online marketplace is launched in February. Anonymous
users buy and sell (mostly illegal) goods in Bitcoin. The cryptocurrency
takes the brunt of the bad press.
At the same time, the price of 1 Bitcoin reaches $1, driving interest.
More people start mining Bitcoin.
, Satoshi hands over maintenance of the Bitcoin code. He or she leaves at
least 50 Bitcoins in a wallet (that are still there to this day) and
disappears.
The first searches for the term 'blockchain' start appearing on Google.
Since Bitcoin's code is open source (available to the public) people start
making their own coins. Namecoin, Litecoin and Swiftcoin, appear on
the scene. All have their sights set on becoming a global currency.
2012
Tether, the first cryptocurrency to be pegged t
Payments Correct Answers Use of advanced methods, tools and
technologies to improve information security and predict, detect and
analyze fraud
Proliferation of mobile wallets and new payment options
Increase in use of consumer data to improve value-added service
offerings
Banking Correct Answers Increased customer empowerment/control of
financial matters
Emergence of new services and solutions for unserved/underserved
customers
Enhanced credit underwriting using non-traditional metrics to determine
applicant creditworthiness
DETAILED VERIFIED AND 100% ACCURATE ANSWERS
Technologies of Fintech Correct Answers Social media
New economy
Big data
Mobile revolution
Blockchain
Cloud computing
Internet of things
Based on the 2007 PWC Global FinTech Report Correct Answers 88%
of incumbents are increasingly concerned they are losing revenue to
innovators
77% of Financial Institutions will increase internal efforts to innovate
82% expect to increase FinTech partnerships in the next three to five
years
FinTech Disruption Correct Answers Startups 75%
Financial Infastructure Companies41%
Traditional Financial Institutions 28%
Social Media Internet Platforms 55%
ICT and Large Tech Companies
Blockchain Timeline Correct Answers 2008
,A document is published online called 'Bitcoin: a peer-to-peer electronic
cash system'.
The document outlines how to build a digital currency that is secure and
transparent without a bank or central body. It's written by an unknown
person called 'Satoshi Nakamoto'.
2009
Satoshi launches Bitcoin in January 2009 as an alternative to the current
financial system and centres of power.
At 18:15 on 3 January Satoshi writes a hidden message into the genesis
block (first batch of payments): The Times 03/Jan/2009 Chancellor on
brink of second bailout for banks.
Interest starts to build about this new, truly peer-to-peer currency.
2010
Bitcoin Market, the world's first cryptocurrency exchange is set up.
The (now famous) Bitcoin Pizza Guy, Lazlo Hanyecz, makes the first
real world payment in Bitcoins (BTC). He pays 10,000 BTC for two
Papa John's pizzas. With the pizzas worth millions just a few years later,
May 22nd is officially crowned Bitcoin Pizza Day.
The (now infamous) cryptocurrency exchange, Mt. Gox, launches.
Bitcoin's market cap (total value) reaches $2bn.
2011
Silk Road, an online marketplace is launched in February. Anonymous
users buy and sell (mostly illegal) goods in Bitcoin. The cryptocurrency
takes the brunt of the bad press.
At the same time, the price of 1 Bitcoin reaches $1, driving interest.
More people start mining Bitcoin.
, Satoshi hands over maintenance of the Bitcoin code. He or she leaves at
least 50 Bitcoins in a wallet (that are still there to this day) and
disappears.
The first searches for the term 'blockchain' start appearing on Google.
Since Bitcoin's code is open source (available to the public) people start
making their own coins. Namecoin, Litecoin and Swiftcoin, appear on
the scene. All have their sights set on becoming a global currency.
2012
Tether, the first cryptocurrency to be pegged t
Payments Correct Answers Use of advanced methods, tools and
technologies to improve information security and predict, detect and
analyze fraud
Proliferation of mobile wallets and new payment options
Increase in use of consumer data to improve value-added service
offerings
Banking Correct Answers Increased customer empowerment/control of
financial matters
Emergence of new services and solutions for unserved/underserved
customers
Enhanced credit underwriting using non-traditional metrics to determine
applicant creditworthiness
