Cryptocurrency markets are juicy targets for hackers: Timeline

Investors’ shaky confidence in virtual currencies took another hit after crypto exchange Bithumb suffered a hack that saw about US$32 million worth of coins stolen. Boosters still present a bullish picture about the future of digital assets. But the more than US$1 billion in thefts – most of which are unsolved – is becoming a growing concern for would-be participants. South China Morning Post takes a look at some of the biggest thefts since 2012.

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India pole vaults to top 5 nations in FinTech, says Amitabh Kant. Guess how much was invested in 2017

The number of deals happening in the financial technology space of India has witnessed a sharp increase from 2014 onwards. In 2017 itself, the sector saw an investment of $3 billion coming in, tweeted NITI Aayog CEO. A few days back, Amitabh Kant had said that low cost Internet based transactions and business efficiency due to technology advancements are expected to kill physical banks in next 5-6 years. He also said that with proliferation of mobile phones and Internet based transaction, it will be easy for financial technology firm to do analysis and provide loans to person who requires it and has good credit history. This is forcing Indian banks to transform themselves riding on wave of Fintech.

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Global fintech investors team up to promote responsible digital finance

One factor that is holding back investors in inclusive digital financial services is the lack of a framework to help them evaluate these risks. Recognizing this, over 50 leading organizations have joined up to develop a set of guidelines for investors who are interested in funding inclusive digital financial services in a responsible way. How these organizations define and handle the issues facing the fintech industry will enable the investor community to better identify new opportunities and manage investment risks. The resulting Guidelines for Investing in Responsible Digital Financial Services comprise 10 touchpoints that financial investors and their fintech investees can use to evaluate opportunities, mitigate risks and contribute to a more responsible and inclusive digital finance ecosystem.

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Global Startup Ecosystem Report 2018

Startup Genome published the Global Startup Ecosystem Report for 2018 recently. Salman Jaffer has summarised some of the key findings:

Top 4 Growing Sub-Sectors

  1. Adv. Manufacturing & Robotics (189% 5-year increase in early stage funding deals)
  2. Agtech & New Food (171% 5-year increase)
  3. Blockchain (163% 5-year increase)
  4. Artificial Intelligence, Big Data & Analytics (77.5% 5-year increase)

Top 3 Declining Sub-Sectors

  1. Adtech (35% 5-year decline in early stage funding deals)
  2. Gaming (27% 5-year decline in early stage funding deals)
  3. Digital Media (27% 5-year decline in early stage funding deals)

Top 4 Countries for AI-Related Patents in 2017

  1. China
  2. United States of America
  3. UK
  4. Australia

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View Global Startup Ecosystem Report 2018

FinTech And Asset Management

The Institute for Innovation Development recently talked with David Halligan, director of sales and account management of SalesFocus Solutions—a FinTech company that focuses on sales analytics and reporting solutions for asset management firms. Their MARS Product Suite was designed to transform data from asset managers into actionable business insights to identify new sales opportunities, obtain product-targeted marketing leads and facilitate asset growth. Financial Advisor asked David to share his thoughts on the FinTech–Asset Management working relationship and how it can become a long-term strategic partnership.

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Top promising Fintech innovations and technologies

FinTech companies have made improvements that lower the likelihood of the mistakes made by humans. They reduce economic fraud or crime, minimize audit risks, enhance the visibility of management and improve compliance of taxes. Here, is a breakdown of six promising FinTech technologies and innovations you should pay attention to.

  1. Disruptive Innovations
  2. Regulatory Technology (RegTech)
  3. InsurTech is a subcategory of Fin Tech, which is used in the insurance sphere.
  4. ICO
  5. Artificial Intelligence
  6. The opening of AIP and Internet of Things

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2018 World Digital Asset Investment Summit Held In Beijing

The 2018 world digital asset investment summit, hosted by the Global Digital Economy Hub, was held in Beijing recently. Themed Fintech, blockchain support sustainable development, the summit gathered blockchain experts and investors at home and abroad.
At the summit, the Global Digital Economy Hub launched the Beijing Digital Economy Hub and Blockchain Incubator, International University Blockchain Alliance, Energy Blockchain Leadership Committee, as well as Women Blockchain Leadership Committee.
It is also announced that the Washington Blockchain Week will be held starting from September 8.

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Six Alternatives to an Initial Coin Offering

Whenever a new musical movement emerges – punk; nu-metal; emo – bands lumped into the genre rush to distance themselves from it. Something similar has happened with ICOs: everyone’s in them, but no one wants to admit to being in them. Instead, we have the spectacle of projects dressing their ICO up as a “token generation event” and other euphemisms. Some of the alternative nomenclature is an attempt to avoid legal repercussions, but more often it’s an attempt to avoid being tarred with the same brush as the scammy ICOs that have ruined the name for everyone. According to author Kai Sedgwick, the six alternatives to the tried, tested, and tired ICO are:

  1. Security Token Offering (STO)
  2. Interactive Initial Coin Offering (IICO)
  3. Initial Supply Auction
  4. Simple Agreement for Future Tokens (SAFT)
  5. Airdrop
  6. No ICO

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Cryptocurrency Hedge Fund Gets VC Fred Wilson’s Backing Amid Bitcoin Slump

Union Square Ventures, the New York-based venture capital firm, is betting on yet another cryptocurrency hedge fund startup, Multicoin Capital. Fred Wilson, the cofounder of USV, confirmed that Multicoin is the sixth cryptocurrency fund the firm has invested in over the past year and a half. It’s also USV’s ninth active investment in the blockchain industry. While the size of the VC’s investment was not disclosed, it brings Multicoin’s total assets under management to $75 million, according to a spokesperson for the fund.

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Guide To Top Cryptocurrency Exchanges

There are more than 1,600 cryptocurrencies in circulation today, with a combined market cap of over $289 billion, according to CoinMarketCap data. Investors around the world are eager to trade in this rapidly-growing space, and a slew of cryptocurrency platforms have emerged to meet the need for infrastructure to support the exchange of digital currencies. Though they call themselves “exchanges,” from an investor’s standpoint they function similarly to e-brokerages. These exchanges allow consumers buy, sell, and trade cryptocurrencies, whether through fiat currency like dollars, euros, or yen, or another cryptocurrency like bitcoin or ether. Some exchanges are better suited to less experienced traders and retail investors, while some are geared towards institutions or full-time traders. The law governing these exchanges vary widely based on location and the type of services each exchange offers. contributor Sarah Hansen takes a closer look at some of the major exchanges operating today:

  1. Coinbase: San Francisco, California
  2. BitMEX: Hong Kong
  3. Binance: multiple locations in Asia
  4. OKEx: Hong Kong
  5. Huobi: Multiple Asian offices, United States office
  6. Bitfinex: Hong Kong
  7. Bithumb: South Korea
  8. UPbit: South Korea
  9. HitBTC: Hong Kong
  10. ZB.COM: Samoa
  11. Bit-Z: Hong Kong, Beijing, Singapore
  12. Bibox: China, with global operations centers
  13. Kraken: San Francisco, California
  14. GDAX: San Francisco, California
  15. Gemini: New York, New York

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