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 :
1.
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 :
1.
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
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