Theme: Islamic Fintech. The pillars of Islamic Finance are:
- Wealth: generated from legitimate trade and assets
- Investments: have social and ethical benefits beyond ROI
- Risk/Rewards: Shared (loans are more like investments)
- Activities: Harmful (haram) activities prohibited
- Products: No excessive speculation, complex derivatives
Hong Kong Fintech Week (HK, Nov 1-5, 2021) info
Theme: Virtual Banks and Digital Insurance. HK's experience:
- 8 e-banks: Airstar, Ant, Fusion, Livi, Mox, OneConnect, WeLab, ZA
- 8 e-insurers: Aimviva, Avo, Blue, Bowtie, Intact, OneDegree, Oval, ZA
- 8 e-enablers: FTSB, InvestHK, HKMA, IA, SFC, HKEX, HKSTP, Cyberport
Theme: Web 3.0 Financial Services. The definition of Web 3.0 is still evolving but can be taken to mean the application of AI and semantics:
- Web 1.0: static, Web 2.0: interactive, Web 3.0: intelligent
- If FB and Google is 2.0, what would 3.0 look like? Perhaps:
- FB: More relevance (does not bury useful content), less 'addictive'
- Google: Customisable index (returns only clean, clear webpages)
- For financial services, it may mean distributed identities, ledgers etc