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Upcoming Platform That Makes Online Voting Secure Using the Same Technology That Powers Bitcoin

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Blockchain, the same technology that powers Bitcoin, is driving a new platform that aims to improve the way we vote. Imagine being able to vote in the next presidential election from your home on a mobile device. No more waiting in lines to vote, no more inconvenient voting times and no more needing to worry about whether your vote was counted correctly. An American based technology company, Above The Median, LLC is designing such a platform, called PopulaVote, a name which is a portmanteau for Populations’ Vote. The platform plans to utilize new ways to store information on the blockchain.

With PopulaVote, people will be able to vote online by posting encrypted ballots to a secure decentralized database whose records are confidential but can be easily audited. This will make the process of voting simpler and faster. We’ve all seen the issues Florida had during its recount after the 2018 USA mid-term elections. PopulaVote aims to decrease the time it takes to recount an election from days to a matter of a few hours, with less expenses and a blockchain based paper trail included.

Blockchain technology is already being used across the world for Bitcoin transactions and payments and blockchain based voting applications can be used to perform free elections for democracies across the world, especially in countries where there is a desire for transparency from the government by the electorate. The blockchain is designed to maintain an auditable trail that can be used to prove to the public that a vote was fair and by an authorized person. Still, blockchain based voting is in its early stages. PopulaVote will become a pioneer in this technology with the goal that anyone will be able to easily participate in an election without unexpected problems outside of their control, such as crowded lines or voting machine malfunctions.

Come visit www.populavote.com to learn more about this exciting new blockchain based voting application and subscribe to find out when it launches and how you can get involved. You will be able to use PopulaVote to let your voice be heard. Blockchain is more than just for money. PopulaVote is re-imagining it in an all new way to create an easy, secure and traceable method to voice your opinion to the world.

 

SOURCE Above The Median, LLC

Fintech

Chinese fintech attracted investments of USD 962.2 million in 2H 2019

Vlad Poptamas

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Fintech companies in China attracted USD 962.2 million in investments from venture capital, private equity and M&A in 2H 2019, resulting in a total of USD 4,479 million in investments for the whole of 2019, according to KPMG’s Pulse of Fintech H2’19 bi-annual report on global fintech investment trends.

Fintech investment in China took a breather after a massive 2018, but the country’s fintech market continued to see substantial activity and Chinese companies still ranked among the largest fintech deals in Asia Pacific for the whole of 2019. China’s large technology giants continued to focus on growing their reach geographically, making investments or plays well outside of Greater China. Ant Financial, for example, submitted an application for a digital banking license in Singapore in late 2019, while Tencent made a number of significant investments in fintech companies in other regions throughout the year, including Ualá in Argentina.

Investors in China also began to turn their attention to up-and-coming areas of fintech. These include regtech, which has appeal among VC investors because of its ability to leverage artificial intelligence and machine learning to assess risk and identify fraud. China-based investors are also interested in fintech companies that use these technologies more broadly to improve the operations of banks and financial institutions, such as improving operational efficiencies, generate and analyse data, as well as support wealth management.

The third quarter of 2019 saw the People’s Bank of China unveiled a three-year plan to support the development of the fintech industry. Since then, there has already been a number of moves focused on implementation. For example, a fintech sandbox is in development, with testing currently being concluded in Beijing. It is expected that this plan will help fuel future investment in fintech, particularly in key areas like risk management, cybersecurity, big data, artificial intelligence, distributed databases and authentication.

Chris Wang, Partner, Head of Fintech, KPMG China, commented, “China’s central bank and other authority bodies are working to move fintech in the country to ‘2nd half’ as part of their three-year fintech development plan. We anticipate an increased regulation and guidance for the industry and an enhanced infrastructure to support fintech development. For example, sandbox mechanism is being designed and may soon roll out to test the concept of different fintech to make sure they comply with regulations and will achieve the desired results before they enter the market.”

The fintech market in Hong Kong saw some resilience in the fourth quarter of 2019, particularly on the back of Alibaba’s decision to do a secondary listing on the Hong Kong Stock Exchange, which raised USD 11.2 billion, making it the largest listing of the year globally.

Earlier in 2019, Hong Kong issued the first batch of eight digital banking licenses. ZhongAn was the first to launch a digital bank pilot, with others expected to follow suit in 2020. As the licensees continue to formulate their digital bank offerings, Hong Kong could see an upswing in investments in related areas, like KYC, regtech, digital onboarding and communications, and digital banking infrastructure. The issuance of digital banking licences has also spurred traditional banks to improve their own digital offerings and experience.

Avril Rae, Director, Head of Fintech, Hong Kong, KPMG China, said, “We’re starting to see ecosystems evolving with respect to digital banks. Partners are coming together to get digital banking licenses. Once they have their pilot projects underway, and they have proven their technology both internally and to the Hong Kong Monetary Authority, we’ll start to see them leveraging those partnerships more deeply – integrating banking services with other offerings like travel bookings or insurance to provide their customers with a seamless experience.”

 

SOURCE KPMG China

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Fintech

Chinese fintech attracted investments of USD 962.2 million in 2H 2019

Vlad Poptamas

Published

on

 

Fintech companies in China attracted USD 962.2 million in investments from venture capital, private equity and M&A in 2H 2019, resulting in a total of USD 4,479 million in investments for the whole of 2019, according to KPMG’s Pulse of Fintech H2’19 bi-annual report on global fintech investment trends.

Fintech investment in China took a breather after a massive 2018, but the country’s fintech market continued to see substantial activity and Chinese companies still ranked among the largest fintech deals in Asia Pacific for the whole of 2019. China’s large technology giants continued to focus on growing their reach geographically, making investments or plays well outside of Greater China. Ant Financial, for example, submitted an application for a digital banking license in Singapore in late 2019, while Tencent made a number of significant investments in fintech companies in other regions throughout the year, including Ualá in Argentina.

Investors in China also began to turn their attention to up-and-coming areas of fintech. These include regtech, which has appeal among VC investors because of its ability to leverage artificial intelligence and machine learning to assess risk and identify fraud. China-based investors are also interested in fintech companies that use these technologies more broadly to improve the operations of banks and financial institutions, such as improving operational efficiencies, generate and analyse data, as well as support wealth management.

The third quarter of 2019 saw the People’s Bank of China unveiled a three-year plan to support the development of the fintech industry. Since then, there has already been a number of moves focused on implementation. For example, a fintech sandbox is in development, with testing currently being concluded in Beijing. It is expected that this plan will help fuel future investment in fintech, particularly in key areas like risk management, cybersecurity, big data, artificial intelligence, distributed databases and authentication.

Chris Wang, Partner, Head of Fintech, KPMG China, commented, “China’s central bank and other authority bodies are working to move fintech in the country to ‘2nd half’ as part of their three-year fintech development plan. We anticipate an increased regulation and guidance for the industry and an enhanced infrastructure to support fintech development. For example, sandbox mechanism is being designed and may soon roll out to test the concept of different fintech to make sure they comply with regulations and will achieve the desired results before they enter the market.”

The fintech market in Hong Kong saw some resilience in the fourth quarter of 2019, particularly on the back of Alibaba’s decision to do a secondary listing on the Hong Kong Stock Exchange, which raised USD 11.2 billion, making it the largest listing of the year globally.

Earlier in 2019, Hong Kong issued the first batch of eight digital banking licenses. ZhongAn was the first to launch a digital bank pilot, with others expected to follow suit in 2020. As the licensees continue to formulate their digital bank offerings, Hong Kong could see an upswing in investments in related areas, like KYC, regtech, digital onboarding and communications, and digital banking infrastructure. The issuance of digital banking licences has also spurred traditional banks to improve their own digital offerings and experience.

Avril Rae, Director, Head of Fintech, Hong Kong, KPMG China, said, “We’re starting to see ecosystems evolving with respect to digital banks. Partners are coming together to get digital banking licenses. Once they have their pilot projects underway, and they have proven their technology both internally and to the Hong Kong Monetary Authority, we’ll start to see them leveraging those partnerships more deeply – integrating banking services with other offerings like travel bookings or insurance to provide their customers with a seamless experience.”

 

SOURCE KPMG China

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CFP Board Center for Financial Planning Announces Best Paper Winners for 2020 Academic Research Colloquium

Vlad Poptamas

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The CFP Board Center for Financial Planning is pleased to announce the recipients of the 2020 Best Paper Awards that were presented last week in Arlington, Va., during the Center’s fourth annual Academic Research Colloquium for Financial Planning and Related Disciplines.

  • The TD Ameritrade Best Paper Award in Behavioral Finance – Sung Lee of Stern School of Business, New York University, for “Fintech Nudges: Overspending Messages and Personal Finance Management”
  • The Northwestern Mutual Best Paper Award in Insurance/Risk Management – Hossein Salehi, CFP® of California Lutheran University, and Charlene Kalenkoski, CFP® of Texas Tech University, for “The Relationship Between Ownership of Insurance Products and Retirement Satisfaction”
  • The Emerging Scholar Best Paper Award – Derek Tharp, CFP® of University of Southern Maine, for “Consumer Perceptions of Financial Advisory Titles and Implications for Title Regulation”
  • The Best Paper Award in Investments – Da Ke of University of South Carolina, for “Left Behind: Partisan Identity and Wealth Inequality”
  • The Best Paper Award in Household Finance – Nick PretnarAlan Montgomery, and Christopher Olivola of Tepper School of Business, Carnegie Mellon University, for “A Structural Model of Mental Accounting”

A full list of 2020 accepted papers is available here.

“We received many compelling paper submissions this year, but the committee selected those that they felt demonstrated the highest research standards,” said Charles R. Chaffin, Ed.D., director of Academic Initiatives, CFP Board Center for Financial Planning. “We congratulate the winners for their contributions to knowledge and innovation in the financial planning industry.”

The Best Paper series of awards recognizes authors from a variety of disciplines and sub-disciplines that relate to financial planning. The award carries a $2,500 cash prize for the author(s) of each winning paper.

The colloquium gathers the global academic community to showcase rigorous and relevant research within financial planning and related disciplines that directly or indirectly relates to the global financial planning practice and the body of knowledge. The CFP Board Center for Financial Planning hosts the colloquium in collaboration with FP Canada and the Financial Planning Standards Board Ltd., owner of the international CERTIFIED FINANCIAL PLANNER certification program outside the United States.

The colloquium is made possible with support from the Center’s Lead Founding Sponsor, TD Ameritrade Institutional, and Founding Sponsors Northwestern Mutual, Envestnet and Charles Schwab Foundation, in partnership with Schwab Advisor Services.

 

SOURCE Certified Financial Planner Board of Standards, Inc.

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