Do you know how banking and money will look like in the new digital age? This book collects the voices of leading scholars, entrepreneurs, policy makers and consultants who, through their expertise and keen analytical skills, are best positioned to picture from various angles the ongoing technological revolution in banking and finance. You will learn how lending and borrowing can exist without banks; how new forms of money can compete to better serve different society needs; how new technologies are banking the unbanked communities in the poorest parts of the world, and how ideas and small projects can be financed by the crowds without the need to rely upon banks. You will learn how, in the new digital age, we will interact with new self-organised and autonomous companies that operate without any human involvement, based on a set of programmed and incorruptible rules. You will learn that new business models will emerge thanks to technology-enabled platforms, upon which one can build new forms of non-hierarchical cooperation between strangers. And you will also learn that new forms of risks and threats are emerging that will destabilise our systems and jeopardise the stability of our financial order.
Featuring high-level analysis of Islamic law, this book examines fintech in Islamic finance from both theoretical and empirical perspectives. Whilst building on existing approaches, it also discusses the current application of fintech in promoting financial inclusion through innovative solutions in Muslim-majority countries, identifying future directions for policy-makers. With original chapters written by prominent academics, senior lawyers and practitioners in the global Islamic finance industry, this book serves as the first standalone pioneering reference work on fintech in Islamic finance. It also, for the first time, examines the position of Islamic law on cryptocurrencies, such as bitcoin. Besides the conceptual analysis of the Sharīʿah and legal aspects of fintech in Islamic finance, this book provides relevant case studies showing current and potential developments in the application of fintech in various sectors ranging from crowdfunding and smart contracts, to Online Dispute Resolution, Investment Account Platform and identity verification in the KYC process. Setting the agenda for researchers in the field, Fintech in Islamic Finance will be useful to students and scholars of Islamic finance and financial technology.
This book examines the shifting role of media trust in a digital world, and critically analyzes how news and stories are created, distributed and consumed. Emphasis is placed on the current challenges and possible solutions to regain trust and restore credibility. The book reveals the role of trust in communication, in society and in media, and subsequently addresses media at the crossroads, as evinced by phenomena like gatekeepers, echo chambers and fake news. The following chapters explore truth and trust in journalism, the role of algorithms and robots in media, and the relation between social media and individual trust. The book then presents case studies highlighting how media creates trust in the contexts of: brands and businesses, politics and non-governmental organizations, science and education. In closing, it discusses the road ahead, with a focus on users, writers, platforms and communication in general, and on media competency, skills and education in particular.
This book investigates the theoretical and practical implications of blockchain and other distributed ledger technologies for democratic decision making. The authors examine theoretical characteristics before exploring specific applications of cryptodemocracy in labor bargaining and corporate governance.
The blockchain revolution has drastically impacted global economics and the strategic practices within different industries. Cryptocurrency specifically has forever changed the face of business and the implementation of business online. While innovative, people are still in the early stages of building and developing blockchain technology and its applications, and it is critical that researchers and practitioners obtain a better understanding of this global phenomenon. Architectures and Frameworks for Developing and Applying Blockchain Technology is an essential reference source that presents the technological foundation, recent research findings, developments, and critical issues associated with blockchain technology from both computer science and social science perspectives. Featuring topics such as artificial intelligence, digital economy, and network technology, this book is ideally designed for academics, researchers, industry leaders, IT consultants, engineers, programmers, practitioners, government officials, policymakers, and students.
This book considers crucial changes to Malaysian economic areas and social well-being. The chapters cover diverse industries such as IT, green technology, retailing, banking, tourism and hospitality, education, logistics, finance, banking, and many others.
This book addresses the questions of discrimination, vulnerable consumers, and financial inclusion in the light of the emerging legal, socioeconomic, and technological challenges. New technologies – such as artificial intelligence-driven consumer credit risk assessment and Fintech platforms, the changing nature of vulnerability due to the ongoing COVID-19 pandemic, as well as the sophistication of digital technologies, which help circumvent legal barriers and protections – necessitate the continuous study of the existing legal frameworks and measures that are capable of tackling these challenges. Organized in two major parts, the first addresses, from multiple national angles, the idea of a human rights approach to consumer law, in order to replace the mantra of economic efficiency that characterizes financial services with those of human dignity and freedom from discrimination and from debt-induced servitude. The second tackles the challenges posed by increased usage of technology in connection with financial services, which tends to solve, but also creates, additional issues for consumers in general, and for vulnerable groups in particular.
In fields as diverse as research and development, governance, and international trade, success depends on effective communication and processes. However, limited research exists on how professionals can utilize procedures and express themselves consistently across disciplines. Corporate and Global Standardization Initiatives in Contemporary Society is a critical scholarly resource that examines standardization in organizations. Featuring coverage on a broad range of topics, such as business standards, information technology standards, and mobile communications, this book is geared towards professionals, students, and researchers seeking current research on standardization for diverse settings and applications.
Role of Blockchain Technology in IoT Applications, Volume 115 in the Advances in Computers series, reviews the latest information on this topic that promises many applications in human life. According to forecasts made by various market research/survey agencies, there will be around 50 Billion connected devices (IoT) by 2020. Updates in this new release include chapters on the Technical Aspects of Blockchain and IoT, Integrated Platforms for Blockchain-Enablement, Intersections Between IoT and Distributed Ledger, Blockchain and Artificial Intelligence: How and Why Combining These Two Groundbreaking Technologies, Blockchain Applications in Health Care and Opportunities and Advancements Due to New Information Technology Frameworks, and more. Explores blockchain technology research trends in secured device to device communication Includes updates on secure vehicular communication (VANET) using blockchain technology Provides the latest on secure IoT communication using blockchain technology Presents use cases of blockchain technology in healthcare, the food chain, ERP and other emerging areas
This book focuses on market developments of crowdfunding, crowdinvesting, crowdlending, social trading, robo-advice, personal financial management, online payment and mobile payment in Germany. FinTech companies are an important driver of innovation in the financial industry. By making financial transactions more user-friendly and transparent, these firms potentially contribute to financial stability and economic growth. The authors define and categorize the different market segments that have emerged. They further provide an assessment of current market volumes and make forecasts for the next 5, 10 and 20 years. Particular attention is given to the empirical findings resulting from scholarly research. Furthermore, the authors evaluate how the German FinTech market ranks relative to international standards. This book will appeal to finance and entrepreneurship researchers as well as practitioners from banking and tech industries. “This book offers a fresh and fascinating look at the FinTech market. The authors provide a rigorous economic analysis of the FinTech market in Germany and offer many insights that are of interest to practitioners, academics, and policymakers alike.” –Professor Douglas Cumming, Schulich School of Business “Germany is one of the fastest growing FinTech markets in Europe. This book not only provides a comprehensive and systematic overview on the developments and actors, but undertakes a visionary outlook on the forthcoming decades based on scientific methods.” –Dr. Thomas Puschmann, Head of Swiss FinTech Innovation Lab
Black money and financial crime are emerging global phenomena. During the last few decades, corrupt financial practices were increasingly being monitored in many countries around the globe. Among a large number of problems is a lack of general awareness about all these issues among various stakeholders including researchers and practitioners. The Handbook of Research on Theory and Practice of Financial Crimes is a critical scholarly research publication that provides comprehensive research on all aspects of black money and financial crime in individual, organizational, and societal experiences. The book further examines the implications of white-collar crime and practices to enhance forensic audits on financial fraud and the effects on tax enforcement. Featuring a wide range of topics such as ethical leadership, cybercrime, and blockchain, this book is ideal for policymakers, academicians, business professionals, managers, IT specialists, researchers, and students.
Consumer behaviour is rapidly trending towards the use of digital devices as instruments through which to transact day-to-day business. This original and timely book shows how this trend creates new opportunities not only for retail consumers but also for financial service providers, regulators and central banks. The author offers a comprehensive overview of these opportunities and their countervailing legal and regulatory challenges. The author describes and analyses in unprecedented detail the application of digital financial innovation (FinTech), and some of its core manifestations, including virtual currencies, Blockchain and distributed ledger technologies to the delivery of financial services, in areas such as: – payments; – securities clearing and settlement; – central banking; – real-time access to financial information; – instant completion of core financial transactions; – data validation and reconciliation processes; and – digital contracting (smart contracts). Also clarified are the legal and other barriers to be overcome – including cybersecurity and risks to privacy – before any widespread adoption of digital innovation in the highly regulated financial sector context can occur. As an informed assessment of the legal merits and risks of technological innovation for financial service providers and central banks, and as a contribution to establishing a conceptual framework within which to analyse and better understand the applications of digital innovation to the financial sector, this practical work is bound to be welcomed by legal practitioners and legal scholars alike with an interest in financial services. Policymakers and regulators will also appreciate its guidance on how to temper the less benevolent aspects of FinTech with targeted, risk-focused regulation, so as to promote innovation and preserve the potential benefits for financial markets and their participants alike.
This innovative and original book explores the relationship between blockchain and antitrust, highlighting the mutual benefits that stem from cooperation between the two and providing a unique perspective on how law and technology could cooperate.
Provides transcripts from and assessments of the first season of the Breaking Banks radio show, examining the massive upheaval facing the banking industry today involving consumer shifts, technological changes and increased government scrutiny.
This book constitutes the thoroughly refereed post conference papers of the First International Conference on Blockchain and Trustworthy Systems, Blocksys 2019, held in Guangzhou, China, in December 2019. The 50 regular papers and the 19 short papers were carefully reviewed and selected from 130 submissions. The papers are focus on Blockchain and trustworthy systems can be applied to many fields, such as financial services, social management and supply chain management.
The monograph’s subject matter centres on cryptocurrencies, an instrument which aspires to be a modern form of money, and on its place in the world economy, payments systems and financial markets. Special attention is paid to the principles of their usage in Initial Coin Offerings (ICOs), one of the most important areas of their application. The aim of the work is the identification of the economic essence of cryptocurrencies. This includes their functions in settlement systems and as financial instruments, an indication of their role in crowdfunding, as well as the characterisation of the mechanism of the ICO and its core rules. The ICO market is becoming more and more popular among investors and companies seeking to increase or raise capital. The analysis of the cases included in the book shows the importance of a well-prepared white paper, the primary document which contains all the information linked with the project.
In coming to terms with the still smoldering financial crisis, little attention has been paid to the flaws within our monetary system and how these flaws lie at the root of the crisis. This book provides an introduction and critical assessment of the current monetary system. It begins with an up to date account of the workings of today’s system of state-backed ‘bankmoney’, illustrating the various forms and issuers of money, and discussing money theory and fallacy past and present. It also looks at related economic challenges such as inflation and deflation, asset inflation and bubble building that lead to market instability and examines the ineffectual monetary policies and primary credit markets that are failing to reach some sort of self-limiting equilibrium. In order to fix our financial system, we first need to understand its limitations and the flaws in current monetary and regulatory policy and then correct them. The concluding part of this book is dedicated to the latter, advocating a move towards the sovereign monetary prerogatives of issuing the entire stock of official money and benefitting from the gain thereof (seigniorage). The author argues that these functions should be made the sole responsibility of independent and impartial central banks with full control over the stock of money (not the uses of money) on the basis of a legal mandate that would be more detailed than is the case today. This includes a thorough separation of monetary and fiscal powers, and of both from banking and wider financing functions. This book provides a welcome addition to the banking literature, guiding readers through the inner workings of our monetary and regulatory environments and proposing a new way forward that will better protect our economy from financial instability and crisis.