Description
Book Synopsis: Everyone is talking about fintech, and they're usually saying good things. Driverless Finance provides a balance to that conversation, exploring the threats that different fintech innovations pose for our financial system. With in-depth and accessible descriptions of new financial technologies and business models - ranging from distributed ledgers to machine learning, cryptoassets to robo-investing - this book allows readers to think more critically about fintech, and about how the law should respond to it.This book highlights the increased speed, complexity, and coordination inherent in new fintech innovations, and illustrates how these features could come together in a massive financial system failure. It makes the case for a precautionary approach to regulating fintech, erring on the side of caution to avoid a financial crisis that could have irreversible and catastrophic effects for our society. Because neither longstanding regulatory approaches nor experimental new approaches like regulatory sandboxes were designed to address fintech's systemic risks, this book makes several bold new proposals for regulation designed to make fintech-inspired financial crises less likely. These proposals include new forms of disclosure and supervision, new forms of technological tools (known as suptech), and a new licensing regime for financial technologies. This book finishes by situating its discussion of fintech and financial stability in the context of important debates about innovation, expertise, cybersecurity, privacy, competition, and other pressing issues.
Details
Are you ready to join the fintech revolution? Driverless Finance is the must-read book that takes a balanced look at the impact of fintech on financial stability. While everyone is talking about the positive aspects of fintech, it's crucial to understand the potential threats it poses to our financial system. This comprehensive book provides in-depth and accessible descriptions of the latest financial technologies and business models, allowing you to think critically about fintech and its implications.
With the rise of distributed ledgers, machine learning, cryptoassets, and robo-investing, the financial landscape is evolving rapidly. Driverless Finance highlights the increased speed, complexity, and coordination that come with these innovations - factors that could lead to a catastrophic financial system failure. Be prepared to face this challenge head-on by adopting a precautionary approach to regulating fintech. Our book makes bold new proposals for regulation, designed to minimize the likelihood of fintech-inspired financial crises.
Our proposals include new forms of disclosure and supervision, as well as innovative technological tools known as suptech. We believe that a new licensing regime for financial technologies is necessary to ensure a stable and secure financial system in the face of fintech disruptions. With Driverless Finance, you gain valuable insights into the important debates surrounding innovation, expertise, cybersecurity, privacy, and competition, placing fintech and financial stability in context.
Don't let the potential risks of fintech catch you off guard. Stay informed, think critically, and be ready to take action. Grab your copy of Driverless Finance today and navigate the ever-changing world of fintech with confidence.
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