This week, our experts bring you the following insights based on their experience as investors, entrepreneurs and executives.
Monday Ilias Hatzis, our cryptocurrency entrepreneur in Greece (founder and CEO of Kryptonio, a "keyless" unmanaged bitcoin and digital currency package that allows users to manage bitcoin and cryptocurrencies without private keys or cryptocurrencies, and a weekly columnist for Daily Fintech) @iliashatzis writes that payments are the "glue"
JPMorgan Chase, the largest U.S. bank, has been covering Greek news all week. This weekend, the Prime Minister and several other cabinet members mentioned it countless times in the Greek Parliament during the no-confidence vote initiated by the leader of the main opposition party. Last Monday, JPMorgan Chase announced that it had agreed to acquire a 49% stake in Greek fintech Viva Wallet. This is really big news for the company, its employees and the entire local startup ecosystem, as it turns Viva into the first Greek unicorn, worth close to $2 billion. The Greek startup scene has been accelerating over the past decade, with 2021 being a record year for investment in the country, with over €1 billion in funding. JPMorgan Chase's investment in Viva is part of its overall strategy to leverage fintech startups, not only for investment but also to grow its business more directly. In 2021, JPMorgan Chase went on an acquisition spree, investing in more than 30 companies, large and small, to secure its leadership position now and in the future. JPMorgan Chase has announced that it will spend more than $12 billion on technology by 2022. That's a lot of money to get into fintech.
Editor's note: Jamie Dimon is a smart guy.
On Tuesday, Bernard Lunn, CEO of Daily Fintech and author of Blockchain Economics, wrote about Web 3 Part 1 What is Web3 and why do some people love it and others hate it?
Gavin Wood, who now lives in Switzerland, coined the term Web3 in 2014, when he was co-founder and CTO of the Ether Foundation.
Web3 is a vision of an Internet that is not controlled by a few large centralized players like Google, Facebook and Amazon – the Web2 we use every day.
Roy Amara, a computer scientist and longtime director of the Institute for the Future at Stanford University, says we tend to overestimate the impact of new technology in the short term, but underestimate it in the long term. This has become "Amara's Law.
Editor's note: This article describes why Web 3, based on decentralized and permissionless value exchanges, is real and not hype.
Alan Scott Managing Director EMEA writes about Facebook's failure on the 24 exchange @Alan_SmartMoney
Is it Libra or Diem, Facebook or Meta? It's hard to keep up with all the name and brand changes, but however you look at it, the news of a $200 million sale to an American venture capital firm called Silvergate represents a major failure.
To try to understand this, why it's happening and what it means for the broader cryptocurrency industry, we asked our resident stablecoin expert Alan Scott a few questions.
Editor's note: Diving into the surface of important mining news is what we do at Daily Fintech.
On Wednesday, Alan Scott, Managing Director of EMEA at 24 Exchange @Alan_SmartMoney, wrote his weekly roundup of stablecoin news.
India-based insurtech expert Rintu Patnaik writes about the potential of the insurance market: two indicators revealed
The median global insurance penetration rate, defined as insurance premiums as a percentage of GDP, was still below 2% in 2016. But this masks the fact that it varies widely across countries, from 20% at one end of the spectrum to 0.06% other at the other. Some countries do not have developed insurance markets and are in the early stages of development. Theory suggests that insurance adoption rates begin to grow after the per capita income threshold.
Editor's note: This is a very thoughtful post that deserves close attention from investors who are concerned about climate change.
Christian Dreyer @x3er, a Swiss CFA focused on how XBRL is changing our world, writes his weekly XBRL News Digest.
On Friday, Howard Tolman, a leading London banker, technologist and entrepreneur, wrote his weekly roundup of Alt Lending news.