#06

FinTech

Rocket CafCLBC

Rocket Caf

LnB

LnB

FinTech P2P
Lending
By
Joanna Yang

FinTech

82921
2011
2008

PositiveMoney / ACDCeoco / The Silver Guide

Mike Maloney, etc.


1. Fiat Currency -
2.

3.
( 1/1/10%10 )

97%Werner 2005,

4. 110

Bank Runs

1931

2011

Bankruptcy, Lower production, Job loss, less tax, falling prices!


1984 5000150
2003 RTC584
2007 1200RTC474
2007 RTC69
2007 RTC44.9
2008 RTC317
2008 RTC445

RTC 38
97()
2084 90
07 09 10111

FinTech .

P2P Lending

Financial Times



22 1056

72
6.1
1.4
2015 5000
84000

FinTech:

FinTech:

FinTech:

FinTech:

(P2P Banking)

P2P BANKING
US

UK

2014 2015
$12 bn $23.2 bn

2014
2015
$2.3 bn $4bn

China

2014
2015
$8.9 bn $33.2 bn

Aus

2014
2015
$0.5bn $0.8 bn

Source : http://www.morganstanley.com/ideas/p2p-marketplace-lending/

Dr. Liao (), National Taiwan University

Blockchain: Trust Machine

Efficiency

Finality

Inspectability

: , Trust


1. https://www.youtube.com/watch?v=LJUig2-tyPU
2. Caveat:
3. Caveat:


Trust FinTech Digital Currency
or
Digital Currency FinTech Trust
?

An important question:
" Because for blockchain : Look at
bitcoinethereum or blockchain such as Gcoin ?

Blockchain: Trust Machine

Trust Machine key feature

Efficiency
No more 45-day latency on mileage transfer!
Move mileage asset to Digi-ledger: From T+45 to T0
No more $50,000 cost!
Move cap-table to Digi-ledger: From $50,000 to 0
Finality
Reduce counterparty risk
Inspectability (or Gongping, Gongzheng, Gongkai)
API becomes possible
Silicon Valley is about APIs.

Technology-wise Digital Finance

Duplication

Double
Spending

Dilution

Data Lost

Digital Finance:
4D Blockchain

Blockchain 4D
Duplication:
Protected by the Proof-of-work mechanism
Every client has a copy of the list of transactions
Double Spending:
The transaction needs to be confirmed by the nodes in the Blockchain network.
For example, Bitcoin protects against double spending by verifying each transaction
added to the Blockchain to ensure that the inputs for the transaction had not
previously been spent
Dilution:
The amount of coin can be limited by proper design via protocol and algorithm.
Decentralized system: no central authority controls the right to issuing currency
Data lost:
All transactions are trackable and are recorded in the Blockchain

2016

45R3


1. US$2m+ Bitcoin
2. Ethereum forked ETC (Ethereum Classic) and ETH, due to DAO
" 30
" Smart Contract
1. for /ETH/BTC) BFX hack $66m BFX
2. https://video.udn.com/news/534829)
3. $180m
Lessons for possible


g-coin.org

crowdsourcing


g-coin.org

crowdsourcing

Backup

, criteria:
1.
a.
2. create value Value
a. and
3. Responsible Innovation
a. experimental platform --- DAO will come.
4.
a. and
5.
a.

FinTech

Steven Yang

WEF 2015:
The Future of Financial Services
The following detailed sections of the report are organised based on key
innovation clusters and how they map to the core functions of financial services

24

Blockchain

R. Coase 1959

Steven NS Cheung/ 1983

/

H Hansmann 1996/
/

Blockchain
/

Edward Wang:

AI AI
BlockChain ...

FinTech

...


PTT

30

999
1

 Big Data


25%


NO
34 NO
NO
WHY
YES


1.

2.

3.
4.


1.

2.

3.

4.

5.

6.


1.

2.

3.

4.

5.

FCA 2014 10
Innovation
Hub 2015
11
Regulatory
Sandbox
Innovation Hub
175
5
2016
5 9

20165

FinTech
Office

20165
regulatory
sandbox
Fintech

AFS

PolicyPal 7
0

2014

74

11

FCA

1.

1.

2.

2.

3.

4.
3.

5.

FCA

FCA

FCA

FCA

FCAFCA
PRA

PRA
FSMA
PRA

PRA

FCA
FCA

1.

2.

3.

1.NALsFCA 4.

5.

2.

3.

FCA

FCA

1.

2.FCA
2

3.

FOS
FSCS

4.

FCA

FCA

FCA

FCA

1.FCA

2.FCA

FSMA

FinTech

Q&A