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2021 | OriginalPaper | Chapter

18. Fintech and Blockchain Based Innovation: Technology Driven Business Models and Disruption

Authors : Maurizio Pompella, Lorenzo Costantino

Published in: The Palgrave Handbook of FinTech and Blockchain

Publisher: Springer International Publishing

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Abstract

Information technology is constantly redefining business models. In banking and finance, blockchain and fintech are advancing service provision and users’ engagement, leading some media to coin the expression “Uberization of banking”. This chapter (Part 1 of two) extrapolates from sharing economy models to conclude that, notwithstanding inherent innovative features, blockchain and fintech are not destined to disrupt finance and banking. Through analogy and successive approximations, the authors identify the limitations of the arguments for disruption. Moreover, starting from stylized facts, the authors raise concerns on potential threats arising from financial innovations such as Tokenomics, referred to as “Naught-Backed Securities”. The Handbook concluding Chapter 22 (Part 2 of two) puts forward options for regulators triggered by COVID-19, bringing to the conclusion that the pandemic is an unprecedented opportunity to redefining boundaries and refocusing the priority on innovation for transparency.

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Title: Fintech and Blockchain Based Innovation: Technology Driven Business Models and Disruption
Authors: Maurizio Pompella
Lorenzo Costantino
Publisher: Springer International Publishing
Book: The Palgrave Handbook of FinTech and Blockchain
Print ISBN: 978-3-030-66432-9

Electronic ISBN: 978-3-030-66433-6

Copyright Year: 2021
DOI: https://doi.org/10.1007/978-3-030-66433-6_18