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2024 | Buch

The Digital Finance Era

A Journey Through Fintech and Cryptocurrency

verfasst von: Babak Naysary, Amine Tarazi

Verlag: Springer Nature Singapore

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Über dieses Buch

Dieses Buch bietet eine gründliche Einführung in die Fintech im Allgemeinen und Kryptowährungen im Besonderen. Er beschreibt die Vorgehensweisen und Strategien der Zentralbanken zur Kontrolle und Regulierung dieser disruptiven Innovationen für eine breite Leserschaft. Dabei geht das Buch auf die Wechselbeziehungen zwischen Themen wie Fintech und Kryptowährungen, Zentralbanken und digitalen Währungen, Neo / Challenger-Banken, Finanzinklusion und neuer Investorengeneration ein und beleuchtet deren regulatorische und monetäre Auswirkungen. Sie tut dies, indem sie erstens (a) zu einem sich rasch herausbildenden und ausweitenden Studienfeld über Finanztechnologie und digitales Banking beiträgt, (b) die organische Vernetzung dieser Fortschritte mit dem sozioökonomischen Gefüge unserer Gesellschaften betont und (c) die von den Zentralbanken als Reaktion auf disruptive Technologien ergriffenen Gegenmaßnahmen konzipiert. Das Buch dient als wertvolle Ergänzung zu Kursen über Fintech und spricht ein breites Spektrum von Lesern an, darunter Studenten, Akademiker, Banken- und Finanzexperten sowie politische Entscheidungsträger. Das Buch dient als wertvolle Ergänzung für Kurse in den Bereichen Finanzen, Betriebswirtschaft, Handel, Wirtschaft und Governance und spricht ein breites Spektrum von Lesern an, darunter Studenten, Wissenschaftler, Praktiker aus dem Bank- und Finanzwesen sowie politische Entscheidungsträger.

Inhaltsverzeichnis

Frontmatter
Chapter 1. Introduction and Overview
Abstract
This chapter outlines a sketch and a brief overview of the topic, including the genesis of FinTech and its development in the past decade along with the subsequent challenges and opportunities that its various segments are posing to the incumbent banking and financial institutions; the main argument in this chapter will be the fact that disruption is a real phenomenon taking place in a fast pace in financial industry and that financial institutions, particularly banks which were immune to severe disruption, under the idea of “Too big to fail” (TBTF) until recently, are now hit with transformations in the form of disintermediation in financial services industry.
Babak Naysary, Amine Tarazi
Chapter 2. Fiat Money: History and Features
Abstract
A brief history of the emergence of fiat money will be brought forth in this chapter in an attempt to illustrate its significance as a large part of human life since several thousand years ago. The importance of this chapter stems from the fact that, in order to understand the concepts of new digital transaction systems, it is essential to familiarize the reader with the role of money as one of the most important achievements in the history of humankind.
Babak Naysary, Amine Tarazi
Chapter 3. Financial Technology Sectors and Business Models
Abstract
This chapter sets out to provide an overview of the FinTech sectors and their business models. By contextualizing the origin of FinTech industry’s growth and some of the biggest inroads made by FinTech startups in areas backdropped by financial institutions, this chapter highlights the opportunities this emerging industry has to offer and also the process of disintermediation brought about by the concept of sharing economy, rapidly expanding by the widespread access, and use of internet and smart phones.
Babak Naysary, Amine Tarazi
Chapter 4. Cryptocurrency
Abstract
This chapter presents insights, facts, and data to familiarize the reader with the concept of cryptocurrency. For this purpose, first a brief overview of the history underlying the concepts of blockchain and cryptocurrency is provided; this will be followed by an introduction on technical advancements supporting its developments in the market. Focusing on cryptocurrency as a payment method, this chapter elaborates on the cryptocurrency wallets and the exchange methods. A brief introduction to the process of cryptocurrency mining is provided, followed by issues related to data privacy.
Babak Naysary, Amine Tarazi
Chapter 5. Central Bank Digital Currency
Abstract
This chapter provides a broad analytical discussion on how the current advancements in financial technology can force central banks to change their practices and policies to adopt to the new financial ecosystem. This will be highlighted by the fact that these technological disruptions are transforming the financial market and payment systems, which have significant repercussions for the central banks as the regulators of monetary and financial stability.
Babak Naysary, Amine Tarazi
Chapter 6. Neobanks
Abstract
In light of the systemic shift in financial access that would render traditional banks’ business models inefficient in near future, and the fact that retrofitting the traditional products and processes for digital transformations has proven to be ineffective, this chapter attempts to highlight the urge in the banking industry to rethink their customer relationships and methods of delivering value to satisfy the needs of modern customers in the new financial ecosystem.
Babak Naysary, Amine Tarazi
Chapter 7. Digital Currencies’ Implications for the Monetary System and Financial Stability
Abstract
Inspired by recent initiatives taken by various central banks to issue their own version of digital currencies, along with rapid developments in the cryptocurrency market, this chapter aims at identifying and discussing the implications of such transformations on the monetary system and financial stability.
Babak Naysary, Amine Tarazi
Chapter 8. FinTech and Financial Inclusion
Abstract
Financial inclusion has become a global priority, aiming to provide individuals and communities with access to affordable and appropriate financial services. However, despite ongoing efforts, a significant portion of the world’s population remains financially excluded. One of the main socioeconomic challenges of the past decade, particularly for low- and middle-income economies, is the financial exclusion caused mainly due to high credit and transaction cost and distance barriers.
Babak Naysary, Amine Tarazi
Chapter 9. Legal Framework for Digital Currencies
Abstract
Payment, clearing, and settlement services are undergoing revolutionary transformations by the advent of cryptocurrencies. Although these alternative modes of payment provide various advantages to users, however they entail anonymity and pseudonymity, since the transactions are performed by the exchange of tokens through a decentralized blockchain platform and involved parties are identified by a unique string of random numbers instead of personal information.
Babak Naysary, Amine Tarazi
Chapter 10. New Generation of Participants in Financial Industry
Abstract
As a sizable portion of global wealth and capital will be handed over to millennials in the next coming decades, studying the generational aspect of technology acceptance in financial market and the use of alternative modes of payment, investment and financing is gaining more significance. In light of the theory of generation which postulates the idea that understanding the mindset in each generation provides insight into upcoming issues confronting the economy, this chapter attempts to highlight the characteristics of new generation of participants in the financial market who are well-known for their tech-savviness and tendency to embrace digital transformations.
Babak Naysary, Amine Tarazi
Chapter 11. The Road Ahead
Abstract
The concept of money has undergone a fascinating journey, evolving with human civilization from simple barter systems to sophisticated digital currencies like Bitcoin. Throughout history, the function of money—as a medium of exchange, a unit of account, and a store of value—has remained constant, but its form and the institutions surrounding it have dramatically evolved. While it is difficult to predict the future of money, its fascinating history suggests that further transformations are yet to come, potentially revolutionizing how we think about value, exchange, and finance.
Babak Naysary, Amine Tarazi
Backmatter
Metadaten
Titel
The Digital Finance Era
verfasst von
Babak Naysary
Amine Tarazi
Copyright-Jahr
2024
Verlag
Springer Nature Singapore
Electronic ISBN
978-981-9739-70-7
Print ISBN
978-981-9739-69-1
DOI
https://doi.org/10.1007/978-981-97-3970-7

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