Issue #376 - Making The Existing Model Obsolete Thursday, August 11th 2022 12:00AM

The reason behind the decision of Elon Musk to terminate the acquisition of Twitter seems to be that the company shared false data. The billionaire challenged the CEO of Twitter, Parag Agrawal, to prove that the company has less than 5% fake daily users.

The fintech sector in Africa is thriving, and in Uganda, fintech companies manage to bring even rural communities into the fintech revolution.

It 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.

In 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.

Universities, 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 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.

The 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.

Ukrainian 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.

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.

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.