Money20/20 Amsterdam. Discussing New Money with Jason Mikula

TL;DR

Discussions on the future of money, programmable money, financial inclusion, and data portability.

Transcript

what a pleasure let's do that safe elbow bump yes for money 2020. from money 2020 in amsterdam it's our first day and we are delighted we already fought for a table for our meeting right and uh it's a pleasure to meet you yeah likewise first time meeting in in person after plenty of uh interaction on twitter and linkedin and looking forward to a go... Read More

Key Insights

• 🤑 Programmable money and its implications on financial control and access.
• ❓ The role of technology in fostering financial inclusion and data portability.
• 🧑‍⚕️ Challenges surrounding consumer privacy, financial health, and debt management in fintech.
• ❓ Contrasting regulatory approaches in the EU and US influencing financial innovation.
• 🎮 Tensions between data portability and incumbents' control in the finance sector.
• 🤗 Opportunities and risks associated with open banking and customer data empowerment.
• 🖤 Concerns over the lack of a holistic financial picture for individuals.

Questions & Answers

Q: What are the key topics discussed regarding the changing nature of money access?

The participants delve into topics such as programmable money, financial inclusion, and the responsibility for creating, managing, and distributing currency.

Q: How does technology play a crucial role in promoting financial access?

Technology enhances access by making data more available, facilitating risk management, and creating new opportunities for historically underserved communities within the financial sector.

Q: What are the challenges associated with data portability and consumer financial health?

While data portability offers benefits like improved analytics, there are concerns about consumer privacy, financial well-being, and the potential for increased debt burdens resulting from frictionless payments.

Q: How do different regulatory approaches in the EU and the US shape financial innovation?

The EU's policy-driven approach to open banking contrasts with the US's market-driven model, leading to diverse outcomes in financial services innovation and data portability initiatives.

Summary & Key Takeaways

• Participants discuss the changing landscape of money access and distribution.

• Focus on programmable money, financial inclusion, and data portability in the finance sector.

• Debate on the impact of technology on financial services and customer well-being.