Issue #376 - Making The Existing Model Obsolete2022-08-11As Buckminster Fuller once said, things are not changed by fighting reality, but by making existing models obsolete. Fintech companies seem to adhere to this idea, and they’re really obtaining results. Despite those cases in which headlines are made by unsuccessful deals – see our top story – fintech proves to be resilient and extremely useful for businesses and entire markets. In this number of FinTech Weekly, you’ll discover how the real estate market is adapting to new technologies, how fintech companies are able to include the most rural communities in Africa, and how fintech is succeeding despite the war and the economic downturn. This and much more on FinTech Weekly, the free newsletter that makes you discover the most relevant fintech news and conferences. |
Top Stories
Crypto
 | Metaverse housing bubble bursting? Virtual land prices crash 85% amid waning interestIt looks like the metaverse real estate is not immune to bubbles. Despite a McKinsey report, which predicted a $5 trillion-worth market by 2030, buyers are losing interest in metaverse properties, leading to a plunge in sales. |
 | Six reasons why blockchain makes sense for commercial real estate: DeloitteIn the meantime, according to a study shared by Deloitte, blockchain could take over 50% of the commercial real estate market. The irreversibility and high efficiency of this technology can make it easier to manage all the leasing and sales processes. |
Banking
 | The Reserve Bank of Australia to explore use cases for CBDCUniversities, industry partners and the Australian Government are all cooperating to better understand how digital currencies can improve the Australian economy. The Reserve Bank has just announced a new project for CBDCs (central bank digital currencies): the pilot will last one year, so that all the organizations involved will be able to evaluate the project. |
 | FinTech Automation Teams Up with Mastercard for Open BankingFintech Automation is now a part of Mastercard’s Engage network. The goal of this program is to make it easier for businesses to access fintech and use open banking products. |
Innovation
 | Coverhero launches new API, eyes USThe Australian insurtech company Coverhero launched a new API (Application Programming Interface) that could be launched in the US next year. The company focuses on providing insurance products to the workers of the so-called gig economy. |
Podcasts and Videos
 | Inside Uganda's emerging fintech ecosystemThe fintech sector in Africa is thriving, and in Uganda, fintech companies manage to bring even rural communities into the fintech revolution. |
Fintech
 | 5 reasons why Ukraine’s fintech sector is growing despite warUkrainian fintech companies proved to be extremely resilient. With a tradition of valuable fintech products and firms, the industry didn’t stop working and growing despite the war. This could lead to new investments and a stronger regulatory environment for the country. |
 | Is The Green Economy The New 'Tech' Sector?The green economy is constantly developing: despite its concentration in specific countries – like the US and China, it’s expanding across different industries, always more resembling a new tech sector. |
 | Millions in the Middle East are unbanked. Can fintech platforms change that?The Middle East is home to 85 million unbanked people. Fintech companies and their simplified and innovative payment solutions, allow everyone to be a part of today’s economy: systems like the BNPL not only make it possible for people to purchase goods and services they need, but also to build their credit history. |