Always more politicians and countries are addressing what seems to appear a full-fledged global economic crisis. Fintech is playing a major role in helping governments and businesses of all sizes to deal with economic issues, offering solutions to mitigate the dramatic effects of these challenging economic and financial times. Fintech is actually one of the main industries on which politicians are focusing to find sustainable solutions. Among the entrepreneurs and politicians currently actively involved in fintech, three names that stand out: Elon Musk, Rishi Sunak and Mahamudu Bawumia. Discover what they’re doing and discussing with FinTech Weekly, the free newsletter that helps you explore the fintech space.
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Blockchain without cryptocurrencies: it's possible, but only with certain blockchains – and many businesses are using them.
Since blockchain and cryptocurrencies are not the same, it's important to know that blockchain can be used without cryptocurrency - and many businesses already do so.
Since Elon Musk finally took control of Twitter, the popular social media has been making headlines because of Musk’s decisions: from firing executives to lamenting a gap in the fintech skills of the company’s workforce, to the possibility to give cryptocurrencies a major role in the ecosystem of Twitter, the statements of the richest man in the world are in the public eye – again. But the decision of allowing people who were banned to get back to the platform is the most discussed: among these accounts, Donald Trump stands out – and advertisers want to boycott the discussed social media.
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After the very short administration of Liz Truss, Rishi Sunak is now the Prime Minister of the UK. The unrealized tax cuts he inherits have just worsened what was labeled a ‘profound economic crisis’ by the Prime Minister, but he has a plan that has already earned him the nickname “Stability Sunak”.
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FinTech World Forum 2022 (https://fintechconferences.com) is based in London UK Europe as one of leading fintech events 2022 for global financial services, finance and banking technology industry. Its focuses on Mobile Payments, Lending, Insurance, Blockchain, Bitcoin, Investment, Money, Crypto, Cryptocurrency, Digital, Innovation, Wallet, Pensions, Funds, Payment, Tech, Financial Services, Technology, Bank, Wealth Management, Insurtech, Regtech and Wealthtech. For more info visit: https://fintechconferences.com/
Fintech skills are in great demand, as well as companies able to find innovative solutions. This is the goal behind the FinTech Innovation Lab New York, finding startups and growth-stage fintech companies to invest in them and help them accelerate business development. Applications are open!
The collapse of Terraform Labs and other failures in the crypto space hasn’t gone unnoticed, and South Korea wants to see clear on recent events: unable to reach out to one of the founders of Terra (Do Kwon might be a fugitive), the lawmakers of South Korea’s National Assembly chose five representatives of the industry, but only two showed up. What’s next for cryptos in the country?
According to the J.D Power 2022 Canada Small Business Banking Satisfaction Study, 6 out of 10 small businesses in Canada are considered financially unhealthy. In these tough economic times, many small businesses are looking for help from their banks to better manage their resources, but banks are not always able to provide a comprehensive service.
The African fintech space thrives, and the 2022 edition of the Ecobank Fintech Challenge has recently rewarded a fintech company, Touch and Pay, with a cash prize of $50,000 for its innovative payment solutions.
GREE, the popular Japanese gaming company involved in the creation of well-known games for the Web2 – such as Naruto and Final Fantasy, is partnering with Avalanche to create its first Web3 game.
Especially during an economic crisis, business is the real game-changer. Of course, businesses also need help to cope with economic difficulties – and fintech can help them in at least 7 ways.
It may sound odd, but the tech industry doesn’t seem to offer the best working conditions anymore. While a career in technology seemed the best option, since tech skills are required across countless sectors, the current economic crisis threatens opportunities for workers. When even a giant like Microsoft needs to make cuts, discouragement is inevitable: the result is that over 2000 young tech professionals want to leave the sector, according to the survey conducted in Europe by the company HiBob.
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Vice President of Ghana, Mahamudu Bawumia, addressed the economic crisis suffered by Ghana during a speech delivered at the FinTech Festival in Accra. The plan of Bawumia focuses on the reduction of debt, more sustainable fiscal policies, limits on imports and retention of foreign exchange earnings.