Cryptocurrencies are here to stay but are unlikely to be considered a credible alternative to money anytime soon.
Electronic cash might be the future, but it is still unclear what payment innovation it offers for the public, certainly in the euro area. And it is unlikely to fully replace the comfort the consumer feels in having money under the mattress.
This event will feature a conversation between Anna Botin and Guntram Wolff on the future of the European Banking sector in face of the digital revolution.
This one-day workshop focused on hybrid threats in the context of the financial system by examining vulnerabilities and raising awareness, looking for solutions in the form of effective protection measures and improved resilience.
Buying a car, a house or a cryptocurrency has never been easier: with a simple click, digital banking has made financial operations accessible to everyone. But, while Fintech has become widespread, financial literacy does not seem to keep up the pace. This week Maria Demertzis and Nicholas Barrett are joined by Annamaria Lusardi, Denit Trust Endowed Chair of Economics and Accountancy from George Washington University School of Business to discuss financial literacy.
How to ensure the safe use of digital payments and other technological innovations in the area of personal finance?
Today banks are facing competition from non-bank firms whose core strategy is based on technological innovation - Big Tech and Fin Tech. What is in store for the future of banking?
FinTech and Big Tech firms are both increasingly stepping on banks’ traditional turf. This column introduces the 22nd Geneva Report on the World Economy, which looks at the challenges generated by new technology-enabled entrants to the global banking industry and the public authorities that oversee it. It argues that to respond adequately to the FinTech/Big Tech challenge, authorities will need to raise their game and enter uncharted territories.
What is the economic potential and the risks of crypto assets? Regulators and supervisors have taken great interest in these new markets. This Policy Contribution is a version of a paper written at the request of the Austrian Presidency of the Council of the European Union for the informal ECOFIN meeting of EU finance ministers and central bank governors.
Fintech has the potential to change financial intermediation structures substantially. It could disrupt existing financial intermediation with new business models empowered by intelligent algorithms, big data, cloud computing and artificial intelligence.
Intel suffered only minimal pain in the stock market following revelations about the ‘Meltdown’ hardware vulnerability. But if the market won’t compel providers to ensure the safety of their hardware, what will?
The price of bitcoin has just passed $11,000. A year ago it was worth less than $800. Economists and commentators are thus increasingly concerned that this may be a bubble waiting to burst. We review recent opinions on the topic.