In Sync with Peter ?
On 16 Sept , Peter wrote
following blog on his web site :
In response , on 17 Sept ,
I blogged :
Peter
: Can we expect this ? [ I meant in
Part 2 ]
Yesterday [ 24 Sept ] ,
Peter published :
HIGHLIGHTS :
Peter in
Part 2 :
- Peer-to-peer lending
With
crowd-lending, we are evidently returning to this pre-centralized-banking model
of
loans,
and moving away from cumbersome intermediaries (e.g.
high fees, regulations,
and extra complexity).
The
benefits of this AI-powered
lending platform do not stop at increased loan payback
rates -- there’s a massive speed increase as
well. Smart Finance loans are frequently
approved
in under 8 seconds
Digitizing
access to P2P loans paves the way for billions of people
currently without
access
to banking to leapfrog the centralized banking system
Smart
contracts executed on these immutable ledgers bring the critical ability to
digitally
replace cumbersome, expensive third parties
(like banks), allowing individual borrowers or
businesses to directly connect with
willing lenders
My take [ P2P
Lending Regulations – 29
April 2016 ] :
·
Can
" Companies " register on P2P
platforms as either Lenders or as Borrowers ?
·
Can American / European / Japanese citizens become
lenders on Indian P2P platforms and lend money to Indian borrowers ?
·
Globally , loan default
rate for P2P platforms is under 1 %
My suggestion ( to enable FDII- Foreign Direct
Investment by Individuals ) has the
potential
to bring back those $ 501
billion that Indians have secretly stashed abroad
No rocket science here !
·
FDII will raise that number of Self Employed , enormously
·
FDII will turn India into a " Low Cost Economy " , thereby
boosting
·
Exports and taking GDP beyond 10 %
Peter in Part 2 :
- AI financial advisors and robo traders
In 2017, CNBC.com estimated that 90
percent of daily trading volume in stock
trading is done by machine algorithms, and
only 10 percent is carried out directly by
humans
Artificial intelligence and financial
management algorithms are not only available to
top Wall Street players
Robo-advisor financial management apps, like
Wealthfront and Betterment, are
rapidly permeating the global market.
As artificial intelligence continues to exponentially
increase in power and capabilities,
increasingly powerful trading and financial management bots will come online, finding
massive
new and previously lost streams of wealth.
Extraordinary transformations are
happening in the finance world.
We’ve only scratched the surface of the
fintech revolution.
All of these transformative financial
technologies require high-fidelity assurance,
robust insurance, and a mechanism for
storing value.
My take [ A Matter of
Time [ 03 Jan 2017 ]
* All bank accounts of a person ( in
different banks ) become inter- operable /
fungible
through seamless interlinking , using Aadhar / UPI Interface in a Mobile
Wallet
No
need to " select " a particular bank name
* All
transactions using a Mobile Wallet, automatically entered in BLOCK-
CHAIN database commonly shared by
ALL banks
* Wallet based
algorithm will move funds across different bank accounts for best
yield , constantly
searching for best interest rates offered
by banks on Fixed Deposits
This
will happen automatically , much like algorithm-based share
trading , taking
advantage
of price differences in two bourses located 300 km apart ( in one
thousandths of a
second ! )
No rocket
science here considering availability of " BEST PRICE " apps
for thousands
of goods and services
And since
computing power of mobiles are doubling every 18 months ( Moore's Law ),
nothing will
stop algo-trading through a Mobile Wallet , as well ! (
Demat A/C on
Wallet ? )
25 Sept 2018
www.hemenparekh.in
/ blogs