Fintech Daily Information Briefing on [November 12, 2020]
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The following is the Fintech Daily Information Briefing on [November 12, 2020] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.
[1]. Korea: the amount of public finance data in open database has reached 210 million
On November 10, 2020, the Korean Financial Services Commission (FSC) announced that the total amount of public financial data provided through Korea’s open financial database has reached 210 million, an increase of about 377% compared with the data volume (44 million copies) during the trial operation from April to June. In addition, the results of user satisfaction showed that about 87.3% of the users said that they knew the open financial database service very well, while about 83.3% of the respondents said that they were satisfied with the free, rich, diverse and accurate data provided by the database. (related reading: 10 Korean financial and regulatory agencies jointly launched the open financial database, which was officially launched in April.)
[2]. World Economic Forum: blockchain and other technologies are the cornerstone of Sustainable Digital Finance
The World Economic Forum (WEF) article said that blockchain represents one of the core elements of Sustainable Digital finance, that is, a new paradigm combining emerging technologies with environmentally conscious business models. In a new report released by WEF on Wednesday, UBS executive Karin oertli listed blockchain technology, artificial intelligence, mobile platform and the Internet of things as the cornerstone of digital finance. These technologies, combined with the environment, society and Governance (ESG) framework, can help governments and enterprises achieve their sustainable development goals.
[3]. Libra research team: fastpay, a new digital payment system, is 7 times faster than visa
Recently, Libra research team published a paper and mentioned a new digital payment system called fastpay. The transaction settlement system will be used to settle cryptocurrency payments, as well as retail payments in legal tender. The researchers found that fastpay can support up to 160000 transactions per second with a load of 15000 transactions. That’s almost seven times faster than the visa payment network. In another experiment in the UK, fastpay performed better. In their paper, researchers and scientists suggest that fastpay will eliminate all types of credit risk associated with counterparties and net settlement issues. This would eliminate the need for intermediate banks and the authorities would not have to sign complex financial contracts between them.
[4]. Nigerian digital bank Kuda received $10 million seed round financing
Recently, Nigeria’s financial technology platform Kuda announced that it had obtained $10 million seed round financing. This financing is led by target global, with entre é e capital, SBI investment and many angel investors. Kuda’s predecessor is kudimoney, an online lending platform established in 2016. In June 2019, kudimoney officially changed its name to Kuda and obtained the banking license issued by the Central Bank of Nigeria, becoming the first full stack digital bank in the region. At present, Kuda mainly provides current accounts, savings accounts and other services, with a total of more than 250000 users. In the future, Kuda will use the funds to continue to drive platform growth, expand team size and expand into the African regional market.
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