Dissemination of learning in Accounting, Finance and Emerging Technologies
BIBLIOGRAPHY:
Fintech in Spain: www.asociacionfintech.es/
Future: www.mckinsey.com/cn/our-insights/our-insights/seven-technologies-shaping-the-future-of-fintech.com
Difference with traditional bank: www.differencebetween.net/business/difference-between-fintech-and-banks/#:~:text=Fintech%20is%20a%20term%20used,its%20customers%20and%20make%20loans.com
News: wp.ull.es/dibaf/2021/10/26/fintech-firm-n26-is-now-worth-more-than-germanys-second-largest-bank/
Bibliography:
https://www.forbes.com/advisor/investing/nft-non-fungible-token/ https://www.businessinsider.com/nft-meaning https://www.finextra.com/blogposting/21162/non-fungible-tokens-bubble-or- future
Authors:
Joel Ávila Gil
Sanan Badalov
Alexis Díaz Luis
Guillermo Loza Rodríguez
Borja Oliva Martín
Authors:
Enmanuel Vegas Acosta
Renny Jhonnatan Rojas Postigo
Katherin Andrea Cifuentes Ruiz
Cathaysa Perez Ramos
Bibliography:
Date: 18/10/2021
Media: CNBC Tech news
What happened?
Berlin-based fintech firm N26 has raised $900 million in a new funding round led by Third Point and Coatue. The round values the eight-year-old start-up at $9 billion, higher than the market cap of Germany’s second-biggest listed bank. N26 expects it will be ready to go public within the next 12 to 18 months, co-CEO Maximilian Tayenthal said.
Whom and where it affects?
It directly affects the German stock market, and the rest of European countries with the ‘fintech’ phenomenon, which facilitates the demand and supply of financial services between European countries, this undoubtedly contributing to the development of a true single market in Europe.
What sort of public or private institutions are involved?
Why is it important for Banking and Finance?
The principal motive that will affect in Finance and Banking is that this European start-ups and other like this is seeking to challenge established banks with app-based checking accounts and little to no fees. This will be an aspect that could be change the form of the banking structure currently.
What do you think will be the consequences in the foreseeable future?
The idea of the company is spends the cash on hiring 1,000 people globally and on launching new features like cryptocurrency trading, because is a business that it´s booming more and more. The objective is bring in more people with a focus on product, technology and security.
Key Words: Fintech, Germany, Financial services, Stock exchange, DAX, ECB, Financial leeway, stock options.
Date: 25th October, 2021
Media: The Business Times
Bitcoin hit a historical record, surpassing it’s all time high «ATH» on wednesday 20. It made a huge amounts of money and was up 120 percent this year.
It affects the entire cryptocurrency market, since bitcoin is the predominant currency and all follow in it’s footsteps. All those people who invest in crypto and hold it, have been involved in this bull run.
In the private sector, the Goldman Sachs, Inc. group, Bank of New York Mellon Corp. and Morgan Stanley, global leaders in investment banking, securities trading and investment management, stand out.
Among the best known are Facebook and Apple Inc. with their FAANG stocks listed on the Nasdaq.
For finance it can have a great positive impact, cryptocurrency as a “peer-to-peer version of electronic cash” that allows “online payments to be sent directly from one party to another without going through a financial institution.” but the same does not apply to banks since One of the responses to that crisis was). With its decentralized system and peer-to-peer technology, Bitcoin has the potential to dismantle a banking system in which a central authority is responsible for decisions that affect the economic fortunes of entire countries
Among the biggest risks of investing in cryptocurrencies is their high volatility, as their prices vary abruptly over very short periods of time.In addition to its volatility, in the absence of regulations governing the cryptocurrency market, cryptocurrency exchanges are vulnerable to being hacked and/or targeted by other criminal activities. Finally, digital money has also raised questions in recent months because of the enormous amount of electricity used to mine the coins, and the consequent environmental impact it generates.
Taking part in a blockchain congress was definitely not a thing that I expected to do at some point of my life. Taking part as a lecturer was directly, unthinkable. However, last Wednesday I found myself in front of my laptop, ready to present the work I had been preparing with my team to an audience formed by more than 50 people. But instead of asking myself why was I there, I was truly satisfied to have the opportunity to share something I had been working on (with my teammates, of course) for more than a month.
The logical question now is: how did I get there? Well, everything started when Judit Mendoza, our Banking Management teacher, told us at the beginning of the semester that we would be taking part in a congress related to blockchain and its applications in different economic sectors, including banking and auditing. I would be lying if I told that I was excited at first: my knowledge about blockchain was near to zero and I had never taken part in such a big event before. However, everything changed when we started to work on it.
Preparing the academic paper for the congress was almost as thrilling as the congress itself. We chose the risks and benefits of the use of blockchain technology in the banking sector as our topic, and we set some online meetings to prepare the paper. At first it was quite challenging: none of us had written any academic essay before, and it is even more difficult when you must use a language which is not your native tongue. Besides, we had to search a lot of information about blockchain, as we wanted to understand how the technology worked.
Still, as we moved on, we started to enjoy the process. Searching for academic papers published by experts and choosing the right ones for our bibliography gave us a better insight into the fascinating world of scientific publications, and writing the paper was an experience which helped us not only to learn about the disruptive potential of the application of this technology in banking, but also to gain some skills that will definitely be essential for our academic and professional future.
The week before the congress we were already nervous, but also excited. We sent out teacher the final version of our paper and we even corrected the mistakes with the aid of Isabella, an American investigator from Chicago that came to Tenerife as part of the Fulbright programme. Everything was ready for the decisive moment.
We expounded the content of our paper in about seven minutes. I think it went well, or at least we were happy with the outcome. Also, I must admit that I felt rewarded when I answered the questions that some of the other participants asked us, because in that moment I realised about how much I had learned. And that’s the thing: we learned. We learned about blockchain, we learned about its applications in banking, we learned about how to search for academic papers, we learned about how to work efficiently and as a team… That’s why I enjoyed the congress and I appreciated it so much, as it was a unique opportunity to develop some skills that are necessary for our future.
However, the most interesting part were the other participants’ explanations, as they made me realise about the vast amount of possibilities that blockchain technology could offer not only to banking, but also to all kind of activities. We talked about auditing, accounting, and even some participants showed us the apps they created by using this disruptive technology. Personally, I think that the most interesting debate that came up during the congress was the one about if the implementation of blockchain technology could make some jobs redundant. That evidenced the need to adapt the way we work to the new technologies that are dramatically changing the way we live.
In the end, it was an amazing experience and I really hope there will be a second edition next year (hopefully in-person). I can only be thankful to all the participants and organisers for bringing up such an interesting event, even more considering the hard times we are currently living. Definitely, blockchain is the future!
Una experiencia colaborativa desarrollada por estudiantes del Grado de Contabilidad y Finanzas de la Universidad de la Laguna.