recentpopularlog in

jerryking : p2p   13

Grouplend brings peer to peer lending to Canada - The Globe and Mail
TIM KILADZE
Grouplend brings peer to peer lending to Canada
SUBSCRIBERS ONLY
The Globe and Mail
Published Thursday, Jan. 29 2015
Tim_Kiladze  lending  peer-to-peer  P2P  banks  banking  financial_services 
january 2015 by jerryking
Technology will hurt the banks, not kill them
October 15, 2014 | FT.com |John Gapper

Does Silicon Valley really want to blow up retail banking and create an entirely new financial system, or would it prefer to ride on the existing one?...Mr Andreessen, a partner of the venture fund Andreessen Horowitz, added in an interview with Bloomberg Markets magazine last week: “To me, it’s all about unbundling the banks. There are regulatory arbitrage opportunities every step of the way. If the regulators are going to regulate banks, then you’ll have non-bank entities that spring up to do the things that banks can’t do.”...There is no doubt that the infrastructure of retail banks is antiquated, and is built in a way that invites competition from peer-to-peer networks. Nor is there a doubt that banks make themselves vulnerable by how they price – offering core deposit services cheaply or free while squeezing customers on ancillary products such as overdrafts and currency exchange....what is the best way to compete with an industry that makes little from a capital-intensive, regulated service with formidable barriers to entry, and a lot from less protected add-ons? The question answers itself, which is why Silicon Valley focuses on payments while talking about disrupting lending....US laws made it impossible to establish a national credit union open to any customer....One growth area in UK finance has been online payday lending by companies such as Wonga, which promised to extend banking to the underserved. ... tech companies can improve on credit scoring by scanning search histories and social network data...The biggest barrier to competition is that the core business of taking in deposits and keeping them safe is not very profitable in a low-interest world....A start-up bank that has no branches and spends less on patching up legacy software might do this more efficiently – and good luck to those that penetrate the regulatory thicket and try. But it is much less risky to attach a new service to the existing banking infrastructure, and it absorbs less capital....Technology may eventually change the infrastructure of banking but it will not happen soon....“is a long-term threat that will play out over decades, not months or years”...Silicon Valley will compete at the edges, where banks make their best profits.
banks  Silicon_Valley  Marc_Andreessen  Andreessen_Horowitz  disruption  fin-tech  start_ups  Bitcoin  financial_services  underserved  unbanked  regulators  P2P  payday_lending  credit_scoring  low-interest  branchless  capital-intensity  legacy_tech  regulatory_arbitrage  financial_system 
october 2014 by jerryking
The Evolution of Trust - NYTimes.com
JUNE 30, 2014
Continue reading the main story

David Brooks

Companies like Airbnb establish trust through ratings mechanisms. Their clients are already adept at evaluating each other on the basis of each other’s Facebook pages. People in the Airbnb economy don’t have the option of trusting each other on the basis of institutional affiliations, so they do it on the basis of online signaling and peer evaluations. Online ratings follow you everywhere, so people have an incentive to act in ways that will buff their online reputation.

As companies like Airbnb, Lyft and Sidecar get more mature, they also spend more money policing their own marketplace. They hire teams to hunt out fraud. They screen suppliers. They look for bad apples who might ruin the experience.

The one thing the peer-to-peer economy has not relied on much so far is government regulation.
trustworthiness  David_Brooks  Airbnb  Uber  sharing_economy  peer-to-peer  P2P  reputation  institutional_affiliations 
july 2014 by jerryking
From Google Wallet to bitcoin, banks’ grip on savers is loosening - The Globe and Mail
CARL MORTISHED
From Google Wallet to bitcoin, banks’ grip on savers is loosening Add to ...
Subscribers Only

If HSBC is contemplating becoming less local in its U.K. home market, it may be because their “local” knowledge tells them that in parts of Africa, ordinary people are doing cashless payment transactions by cellphone without the need of complex apps, not to mention debit cards or cheques....The real risk for the banks, however, is disintermediation, where the social media and Internet platforms simply channel moneydata from customers to retailers or from lenders to borrowers without bank intervention. Crowd funding and peer-to-peer lending platforms are still in their infancy, but that is probably because they lack the connection to the vast pot of money that would be available from a Google-bank or Face-bank.

Finally, there is the money issue, made relevant by the bizarre phenomenon of bitcoin, the ultimate disintermediation tool. If the unit of value as well as the medium of exchange moved out of the world of banking and into the ether, the transition to a debanked world would be complete.

LONDON — The Globe and Mail

Published Thursday, Dec. 12 2013
banks  banking  Google  Facebook  P2P  peer-to-peer  HSBC  disintermediation  bitcoin  regulation  mobile_payments 
december 2013 by jerryking
Review of Space Monkey Peer-to-Peer Digital Storage System - WSJ.com
Dec. 10, 2013 | WSJ| By Katherine Boehret.

The $199 Space Monkey storage solution offers two ways to store files: Remote storage, which uses a peer-to-peer system, and local storage, which uses this one-terabyte hard drive, above, that plugs into a wireless router. Space Monkey
P2P  peer-to-peer  cloud_computing  digital_storage 
december 2013 by jerryking
Video - The Coming Currency Revolution
9/8/2009 | The Wall Street Journal | by Andy Jordan. A digital
currency for Microsoft Outlook? Social Networks? Jordan talks to
currency renegades tired of big-government centralized cash, and
desperate to make their own (legal) money systems. Currencies of
attention, trust, moments of authentic connection, reputation and
experience.
digital_currencies  currencies  virtual_currencies  P2P  scarcity  social_networking  video  metacurrencies 
september 2009 by jerryking
A Future for Newspapers - WSJ.com
MAY 24, 2007 | Wall Street Journal | op-ed by ANDY KESSLER

Google, Microsoft and others dropped over $10 billion to buy online ad-delivery companies in the last few weeks alone.
Andy_Kessler  media  newspapers  op-ed  P2P  future  digital_media  business_models  monetization 
april 2009 by jerryking
Markets for the Poor in Mexico - WSJ.com
JUNE 30, 2008 WSJ article by MARY ANASTASIA O'GRADY on the travails of Mexican microfinancier, Compartamos Banco.
P2P  peer-to-peer  microlending  microfinance  Mexico  Mary_Anastasia_O'Grady 
february 2009 by jerryking
Davos: Your Future May Include a P2P Economy
WSJ video clip from Davos 2009 on the rise to P2P out of the wreckage of the financial crisi
P2P  social_networking  social_capital  financial  crisis  peer-to-peer 
february 2009 by jerryking
Where Either a Borrower Or a Lender Can Be - WSJ.com
March 12, 2008 WSJ article by Jane J. Kim on the rise of peer-to-peer lending networks like Prosper, LendingClub, and Zopa.
peer-to-peer  lending  Web_2.0  social_networking  finance  money  P2P 
january 2009 by jerryking

Copy this bookmark:





to read