FinTech in Focus
Welcome to FinTech in Focus, a compilation of must-read stories about the role technology plays in the delivery of financial products and services. As part of the Center for Financial Markets FinTech program, FinTech in Focus offers a sampling of the week’s top domestic and international headlines and stories about this innovative, fast-growing sector.
As we continue to build-out the service and grow our readership, we will begin to release the weekly headlines over e-mail. Subscribe to FinTech in Focus to receive these updates in your inbox.
Fork in the Road for Bitcoin Block Size
Current blocks are limited to just one megabyte — enough to handle 300,000 transactions daily. Dispute continues over whether or not to go beyond this. Large players in Bitcoin released a letter on Monday urging the industry to support BIP101 and 8MB blocks.
Mandate the Fed and the ECB to Monitor Digital Currency Systems?
Fed Chairman Yellen says she doesn’t have the authority, but a Suffolk University report by Associate Professor Hilary Allen suggests that a mandate is necessary. Separately, Ecuador went beyond a mandate and created its own virtual currency.
SHOT: MPLs Are a Systemic Risk; CHASER: MPLs Will Save Financial Services
Check out the battle of the op-eds in American Banker between Todd Baker of Broadmoor Consulting and Mike Cagney of SoFi, a company which recently raised $1 billion from investors valuing SoFi at nearly $4 billion.
Mobile Money Subscriptions Rise Across East Africa
The number of customers has grown from 29 million in 2009 to 82.3 million last year. East Africans are moving $125 million per day compared to $13.3 million in 2009.
Insight Into Mobile Banking Practices Across Five Federal Reserve Districts
The Federal Reserve Bank of Boston released the results of a survey of 433 banks and 192 credit unions covering mobile banking practices, with 94 percent of respondents indicating they are actively engaged in or planning to offer mobile banking services.
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