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This Week in Fintech ending 29 October 2021

This week our experts brought you the following insights based on their experience as investors, entrepreneurs & executives.

Monday Ilias Hatzis our Greece-based crypto entrepreneur (Founder & CEO at  Kryptonio a “keyless” non-custodial bitcoin and cryptocurrency wallet, that lets users manage bitcoin and crypto, without private keys or passwords and Weekly Columnist at Daily Fintech) @iliashatzis wrote Bitcoin’s Amazing Week

This past week was filled with excitement and the bitcoin bulls started a new stampede. On Wednesday bitcoin climbed to a new all-time high, reaching $66,930.39. The record price came a day after the first US. bitcoin exchange-traded fund (ETF) debuted on the New York Stock Exchange giving bitcoin a big boost. The fund already has over $1 billion in management and is the quickest ETF to reach that threshold. Trading under the ticker symbol BITO, the fund essentially allows people to bet on the future of bitcoin, without actually having to purchase the cryptocurrency on a crypto exchange. Since the start of October, bitcoin is up by 50% surpassing the market value of both Facebook and Tesla. Other leading cryptocurrencies mirrored bitcoin’s gains, most notably Ethereum (ether) and Solana (SOL), which were up more than 10% and the overall crypto market cap climbed above its previous all-time high, going over $2.6 trillion. The launch of a bitcoin ETF increases the cryptocurrency’s legitimacy, making it easier for investors to get exposure.

Editor note: Ilias makes the case for ETFs as a stepping stone in the mass adoption of crypto, enabling people to learn more about safely owning, storing, and using crypto.

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Tuesday Bernard Lunn, CEO of Daily Fintech and author of The Blockchain Economy wrote: Part 4 Will Wall Street Coopt and Strangle Etherum?

Bitcoin is radical and disruptive. In addition to being a totally decentralized, permissionless system, there are no human managers that you can talk to.

Ethereum is different. You can talk to Vitalik Buterin and Joseph Lubin. Techies may prefer Vitalik Buterin and biz types maybe more comfortable with Joseph Lubin, but both are humans that you can talk to.

There are 3 reasons why the answer is Yes to the headline question.

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Editor note: This is Part 4 of our series on Ethereum 2.0. Some subjects are too complex for our short attention spans, so we do 4 posts one week apart, each one short enough not to lose your attention but in aggregate doing justice to the complexity of the subject. Stay tuned by subscribing.

Wednesday Alan Scott Managing Director EMEA at 24 Exchange @Alan_SmartMoney wrote his weekly roundup of Stablecoin news.

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Thursday

Rintu Patnaik, an Insurtech expert based in India, wrote: Regulatory Sandboxes Chug Along, Find A Place In The Sun

Initially conceptualized for fintech, regulatory sandbox programs have since expanded to other areas. These sandboxes benefit innovators by allowing government regulations to be exempted in usage of new technologies and innovations, until regulators can ascertain the product or service is useful. Basis specific themes for new products, sandboxes stimulate business growth and serve to launch up-and-coming companies.

Editor note: Rintu looks at Insurtech regulatory sandbox programs across different States in America.

Christian Dreyer @x3er, the Swiss based CFA who focusses on how XBRL changes our world wrote his weekly roundup of XBRL news.

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Friday Howard Tolman, a well-known banker, technologist and entrepreneur in London, wrote his weekly roundup of Alt Lending news.

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Source: https://dailyfintech.com/2021/10/29/this-week-in-fintech-ending-29-october-2021/

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