ValueWeb , livre ebook

Marshall Cavendish International - Chris Skinner

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178 pages

English

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The Internet of Things is all about machines trading with machines - your fridge orders groceries; your car, fuel; your television, entertainment; and so on. However, machines cannot trade with machines if it's expensive and slow. Would you really want your TV to order the next season of Games of Thrones, if the payment took ten days and cost $25 or more? Unfortunately with the way the bank system works today, that is the problem we face today. As a result, we need an Internet of Value to work with the Internet of Things. The Internet of Value - or ValueWeb, for short - allows machines to trade with machines and people with people, anywhere on this planet in real-time and for free. Using a combination of technologies from mobile devices to bitcoin and the blockchain, fintech firms are building the ValueWeb. The question then is what does this mean for financial institutions, governments and citizens? This book provides the answers. "This book will be an invaluable read for all interested in the way business works." - Sir Roger Gifford, Former Lord Mayor of London

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Banking

Economie gestion

Bank

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Publié par	Marshall Cavendish International
Date de parution	07 janvier 2016
Nombre de lectures	0
EAN13	9789814751094
Langue	English
Poids de l'ouvrage	3 Mo

Informations légales : prix de location à la page 0,0800€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

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Praise for ValueWeb
Chris Skinner-one of the most authoritative voices on FinTech anywhere-has provided us another timely and thoughtful look into the fascinating convergence of technology, e-commerce, and finance that is changing the world. Ignore these trends and the insights here at your peril.
- Seth Wheeler Brookings Guest Scholar and Former Special Assistant to The President for Economic Policy at The White House
Society is in the early stages of another financial revolution-one that is already changing the way we live and work. This book describes the fundamentals driving the processes at play, and will be an invaluable read for all interested in the way business works.
-Sir Roger Gifford Former Lord Mayor of London and Ceo Seb Uk
Global payments are ripe for disruptive innovation. Chris Skinner argues, persuasively, that the combined technologies of mobile connectivity and distributed ledgers could deliver just that disruption, for the benefits of billions of citizens.
-Andrew G Haldane Chief Economist, Bank of England
Financial services is up for huge disruption, most importantly from the blockchain revolution. Skinner s ValueWeb is a sweeping and well-researched analysis of the big technology trends that will shake the windows and rattle the walls of the industry.
-Don Tapscott Best Selling Author, most recently with Alex Tapscott Blockchain Revolution
Chris Skinner captures the maturing of FinTech in his book, ValueWeb . Not only does he define many of the FinTech buzz words from Blockchain to Value System Integrators, he gives real examples of practical application of the concepts. It s not surprising that he calls for innovation in traditional banking and points out the dead giveaway of anyone trying to fake it as a digital bank: First, you don t need a cross-channel organisation in a truly digital bank, and second, you never mention channel or omnichannel in a digital bank. He sums up what those enlightened in managing change have known all along, it all comes down to leadership. And that s my favourite part of this book, the leaders he profiles along the way.
-Deanna Oppenheimer Former Vice Chair, Global Retail Banking, Barclays Bank
Best insight into money in the 3rd industrial revolution, aka the digital revolution, you will read.
- Lawrence Wintermeyer CEO, Innovate Finance
In ValueWeb , Chris Skinner has brought to bear his long experience in financial services and technology to create a fascinating and comprehensive overview of the blurring of boundaries between them. The book describes how technology is disrupting traditional financial services by making transactions simpler and cheaper, and how banks must proactively leverage these trends to be future-ready.
- Chanda Kochhar Managing Director and Chief Executive Officer, Icici Bank
Chris has a great eye for the case studies and practical examples of innovation that help you to really reflect on where banking is going.
- David Birch Director, Consult Hyperion
A great follow-up to his best-seller Digital Bank , Chris Skinner provides an in-depth look at the exchange of value in an evolving digital universe. Through case studies, interviews and personal observations, Chris explains how the world is moving away from traditional currencies towards a ValueWeb. This is another must-read, not only for those interested in the world of FinTech, but anyone wanting to get a glimpse of a future where monetary and non-monetary transfers occur instantaneously across mobile and digital networks.
- Jim Marous The Financial Brand/Digital Banking Report
If I could only call one person when the FinTech apocalypse happens, Chris Skinner would be the person I would call. His huge depth of knowledge, coupled with his ability to summarise complex subjects into memorable and simple to understand chapters for this book, make it a must read for any bank wanting to know which way to dig.
- David M. Brear Chief Thinker, Think Different Group

Image of robot hand on cover by Willyam Bradberry/Shutterstock
This book is published by Marshall Cavendish Business Marshall Cavendish Business is an imprint of Marshall Cavendish International 1 New Industrial Road, Singapore 536196
2016 Copyright Chris Skinner All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except under the terms of the Copyright, Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency Ltd, 90 Tottenham Court Road, London, W1T 4LP, UK, without the permission in writing of the Publisher. Designations used by companies to distinguish their produces are often claimed as trademarks. All brand names and product names used in this book are trade names, service marks, trademarks or registered trademarks of their respective owners.
The publisher makes no representation or warranties with respect to the contents of this book, and specifically disclaims any implied warranties or merchantability or fitness for any particular purpose, and shall in no event be liable for any loss of profit or any other commercial damage, including but not limited to special, incidental, consequential, or other damages. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. The Publisher explicitly states that all data, quotations and commentary made in this publication is as accurate as possible. The Publisher is not liable for any inaccuracy of such information or errors statistically. Please note that the views expressed in this publication are those of the individuals concerned, and do not necessarily reflect the views of their institutions.
All requests for permission should be addressed to the Publisher, Marshall Cavendish International (Asia) Private Limited, 1 New Industrial Road, Singapore 536196. Tel: (65) 6213 9300. E-mail: genrefsales@sg.marshallcavendish.com . Website: www.marshallcavendish.com/genref
Other Marshall Cavendish Offices:
Marshall Cavendish Corporation. 99 White Plains Road, Tarrytown NY 10591-9001, USA Marshall Cavendish International (Thailand) Co Ltd. 253 Asoke, 12th Flr, Sukhumvit 21 Road, Klongtoey Nua, Wattana, Bangkok 10110, Thailand Marshall Cavendish (Malaysia) Sdn Bhd, Times Subang, Lot 46, Subang Hi-Tech Industrial Park, Batu Tiga, 40000 Shah Alam, Selangor Darul Ehsan, Malaysia
Marshall Cavendish is a trademark of Times Publishing Limited
National Library Board, Singapore Cataloguing-in-Publication Data
Names: Skinner, Chris. Title: Valueweb : how Fintech firms are using mobile and blockchain technologies to create the Internet of Value / Chris Skinner. Description: Singapore : Marshall Cavendish Business, 2016 Identifiers: OCN 930303368 | eISBN 978 981 4751 09 4 Subjects: LCSH: Electronic funds transfer. | Banks and banking--Technological innovations. | Internet banking. Classification: LCC HG1601 | DDC 332.178--dc23
Printed in Singapore by Markono Print Media Pte Ltd
Contents
Introduction
1. WELCOME TO THE VALUEWEB
The way value is shared on the ValueWeb
The ValueWeb and biometric blockchain authentication
The origins of money is part of our DNA
2. THE VALUEWEB BUILDER PART ONE: A MOBILE NETWORKED PLANET
Exchanging value from anywhere, anytime, anyplace
Generational gaps
Mobile makes invisible banking visible (again)
Mobile is the authentication tool
As mobile came alive, PayPal almost died
Wallet wars haven t really started yet ...
Is Apple Pay the wallet to rule them all?
Have banks made a fatal mistake?
Will bank developments in China lead to a global mobile banking revolution?
When everyone on the planet has a mobile, things change
Africa shows the way to the future
Are banks failing to grasp the mobile opportunity?
3. THE VALUEWEB BUILDER PART TWO: CRYPTOCURRENCIES
Digital currencies-a hot topic of debate
What is this thing called bitcoin?
The Mt. Gox meltdown
Crime-as-a-service with bitcoin
Regulating cryptocurrencies
Why Bitcoin needs a Foundation
Why value stores need regulations
What can you buy with a bitcoin?
What will make bitcoin succeed?
An 81 million transaction that cost just 4 cents to process
4. THE VALUEWEB: FUELLED BY FINTECH
Why would VCs invest so much in FinTech?
As robo-advisors take over
The FinTech march into investment banking
The reports of my bank s death are greatly exaggerated
Is FinTech so special?
The special relationship
What FinTech means for banks
What do narrow banks mean for wide banks?
When paying is free, what then?
If services are free, how do we make money?
How will banks differentiate in the future?
Customer engagement in a digital world
5. THE IMPACT OF THE VALUEWEB ON EXISTING FINANCIAL INSTITUTIONS
Major parts of banking are stuck in the last century
The friction of the old versus new models of finance
Old banks need to reconstruct themselves
The back office in the cloud
The middle office, open-sourced bank
The front office, customer-focused bank
The component-based bank
When we have component-based banking, what happens to the regulator?
Banks as Value Systems Integrators
Moving from banks as money stores to value stores
Data personalisation strikes at the heart of bank disruption
6. REINVENTING VALUE EXCHANGE WITH THE BLOCKCHAIN
The importance of cryptocurrencies and the blockchain to banks
The Uber of the ValueWeb is the blockchain
Digital identities demand a digital infrastructure
Will the blockchain replace SWIFT?
What does the ValueWeb mean for bank branches?
Will this lead to a digital divide?
The role of the bank branch in the digital age
7. THE DIGITAL BANK FOR THE VALUEWEB
Digital banks do not have channels
Digital banks think differently
Take the test: does your bank think like a traditional b