Handbook of Blockchain, Digital Finance, and Inclusion: Cryptocurrency, FinTech, InsurTech, and Regulation explores recent advances in digital banking and cryptocurrency, emphasizing mobile technology and evolving uses of cryptocurrencies as financial assets.

Table of Contents

• List of Contributors
• Preface
• Reshaping the Financial Order
• 1.1 Megatrends and New Alternatives
• 1.2 Digital Implications
• 1.3 Historical Context
• 1.4 E-commerce and P2P
• 1.5 The Rise of M-commerce
• 1.6 Weapons of Mass Consumption
• 1.7 Banking 2.0
• 1.8 Understanding the Model
• 1.9 The Democratization of Banking and Finance
• 1.10 The Incumbents
• 1.11 Cryptocurrencies and Blockchain
• 1.12 The FinTech Promise
• References
• From Ant Financial to Alibaba's Rural Taobao Strategy – How Fintech Is Transforming Social Inclusion
• 2.1 Introduction
• 2.2 Issues in Rural China
• 2.3 Alibaba's Rural Taobao Strategy
• 2.4 Digital Financial Services and Fintech Platforms
• 2.5 Conclusion
• References
• The M-Pesa Technological Revolution for Financial Services in Kenya: A Platform for Financial Inclusion
• 3.1 Introduction
• 3.2 Background
• 3.3 M-Pesa as a Platform for Financial Inclusion
• 3.4 Impact of M-Pesa Revolution on Financial Inclusion
• 3.5 Conclusion
• References
• Financial Inclusion in the Digital Age
• 4.1 Financial Inclusion
• 4.2 The Financially Underserved Consumer
• 4.3 Consequences of Being Financially Underserved
• 4.4 Financial Exclusion Affects the Middle Class Too, not Just the Poor
• 4.5 Financially Underserved in Developed Countries
• 4.6 Financial Health and Financial Security
• 4.7 Financial Inclusion and Financial Literacy
• 4.8 Financial Inclusion for Micro, Small and Medium Enterprises (SMEs)
• 4.9 Financial Inclusion Matters and Can Be Profitable
• 4.10 Fintech Revolution Enabled by Smartphones
• 4.11 Financial Inclusion in China – World's Largest Fintech Market
• 4.12 Financial Inclusion in India – A Success Story
• 4.13 Fintech Revolution Examples From Other Countries
• 4.14 Potential Risks With the New Business Models
• 4.15 The Path Ahead: Creative Collaboration Between Policymakers, Banks, Telcos and Technology Firms
• References
• Using Broadband to Enhance Financial Inclusion
• 5.1 Introduction: The Potential of Broadband Solutions to Enhance Financial Inclusion
• 5.2 Deepening Customer Engagement Based on Mass Customization
• 5.3 Digital Marketplaces Supporting New (Dis-)Intermediation Models
• 5.4 Specialized Online Service Delivery Models
• 5.5 Delivery of Financial Information and Education
• 5.6 Prospects: Globally and in Latin America
• Mobile Technology and Financial Inclusion
• 6.1 Introduction
• 6.2 The Current Landscape
• 6.3 Mobile Inclusion Leads to Financial Inclusion
• 6.4 Conclusion
• References
• The Cross-Section of Crypto-Currencies as Financial Assets
• 7.1 Introduction
• 7.2 The Dynamic Environment of a Multiplicity of Crypto-Currencies
• 7.3 Properties of Crypto-Currency Dynamics
• 7.4 Conclusion
• Appendix A Technical Appendix
• References
• Econometric Analysis of a Cryptocurrency Index for Portfolio Investment
• 8.1 Econometric Review of CRIX
• 8.2 ARIMA Models
• 8.3 Model with Stochastic Volatility
• 8.4 Multivariate GARCH Model
• 8.5 Nutshell and Outlook
• References
• Financial Intermediation in Cryptocurrency Markets – Regulation, Gaps and Bridges
• Abbreviations
• 9.1 Introduction
• 9.2 Financial Intermediation in Cryptocurrency Markets
• 9.3 Exchanges
• 9.4 Electronic Wallet Providers
• 9.5 Other Intermediaries
• 9.6 Future Directions – Filling Gaps and Building Bridges
• 9.7 Conclusion
• References
• Legal Risks of Owning Cryptocurrencies
• 10.1 Introduction
• 10.2 Money Before Bitcoins
• 10.3 ‘Digital Money’ Before Bitcoins
• 10.4 Bitcoins: A Primer
• 10.5 Cryptocurrency Risks
• 10.6 Conclusion
• References
• InsurTech and FinTech: Banking and Insurance Enablement
• Acknowledgments
• 11.1 Introduction
• 11.2 InsurTech Activities
• 11.3 The 4 Most Disruptive Technology
• 11.4 The 3 Fundamental Trends
• 11.5 Benefits of InsurTech
• 11.6 InsurTech Deal Activities
• 11.7 From FinTech to InsurTech: Mobile Revolution
• 11.8 Mobile First
• 11.9 Cross-Sell and Up-Sell
• 11.10 Virtual Financial Advisor
• 11.11 Data Driven
• 11.12 Earned Premiums
• 11.13 Investment Income
• 11.14 Underwriting Cost
• 11.15 Claims Expenses
• 11.16 Mutual Aid Industry in China
• 11.17 Zhongtuobang and Shuidihuzhu
• 11.18 Blockchain Use Cases
• 11.19 Are Mutual Aid LASIC?
• 11.20 Conclusion
• 11.21 Technology Disruptions
• 11.22 InsurTech Ecosystem
• References
• Understanding Interbank Real-Time Retail Payment Systems
• 12.1 Introduction
• 12.2 The Overview of Interbank Payment Landscape
• 12.3 The Case for Real-Time Retail Payment Systems
• 12.4 The Characteristics of Real-Time Retail Payment Systems
• 12.5 Architecture and Design of Real-Time Retail Payment Systems
• 12.6 Conclusion
• References
• Real-Time Inbound Marketing: A Use Case for Digital Banking
• 13.1 Introduction
• 13.2 Evolution of IT Systems and Marketing Methods in Retail Banking
• 13.3 Marketing Strategies in Today's Digital Banking Era
• 13.4 Technology Enablers for Real-Time Inbound Marketing NBO
• 13.5 Summary
• Appendix – CEP Patterns and Use Cases for Real-Time Inbound Marketing
• References
• Regulation and Supervision in a Digital and Inclusive World
• 14.1 Fintech Meets Financial Inclusion
• 14.2 Policy Is Struggling to Keep up With the Market
• 14.3 A New World for Policymakers, Regulators and Supervisors
• 14.4 A Risk-Based Approach to Know-Your-Customer
• 14.5 Emerging Responses to Supervising Digital and Inclusive Markets
• Singapore Approach to Develop and Regulate FinTech
• 15.1 MAS Organizational Support for FinTech
• 15.2 MAS Existing Regulatory Regime
• 15.3 Shaping Regulatory Approach for Fintech
• 15.4 “Regulatory Sandbox”
• 15.5 Closing
• RegTech: Building a Better Financial System
• 16.1 Introduction
• 16.2 RegTech: A Framework of Analysis
• 16.3 RegTech in the Financial Services Industry
• 16.4 Data Driven Regulation
• 16.5 Looking Forward
• Ambient Accountability: Shared Ledger Technology and Radical Transparency for Next Generation Digital Financial Services
• 17.1 Introduction
• 17.2 Why Now?
• 17.3 Shared Ledger Building Blocks
• 17.4 Shared Ledger as Infrastructure: Bank of England Example
• 17.5 Types of Shared Ledgers
• 17.6 Shared Ledger Governance
• 17.7 The New Infrastructure
• Authors
• References
• Peer-To-Peer Lending
• 18.1 Banking in the Digital Age
• 18.2 Peer-to-Peer (P2P) Lending: Democratization of Finance
• 18.3 Rapid Growth After the Global Financial Crisis
• 18.4 Supporting Financial Inclusion and Economic Growth
• 18.5 Peer-to-Peer Lending Business Models
• 18.6 Credit Risk Assessment and Credit Defaults
• 18.7 Divergence in Business Models Across Countries
• 18.8 Arrival of Institutional Investors and Securitization
• 18.9 Credit Bureaus and Credit Scoring
• 18.10 Incumbents and Challengers
• 18.11 Evolving Regulatory Landscape
• 18.12 Growing Pains – The Shakedown in May 2016
• 18.13 The Future of Peer-to-Peer Lending
• References
• EU VAT Implications of Crowdfunding
• 19.1 Introduction
• 19.2 The Concept of Crowdfunding
• 19.3 Crowdfunding in the European Union
• 19.4 EU VAT System
• 19.5 VAT Treatment of Crowdfunding Transactions
• 19.6 Summary
• References
• Automated, Decentralized Trust: A Path to Financial Inclusion
• 20.1 Setting the Stage
• 20.2 Spiral Dynamics & Human Social Development
• 20.3 Automated, Decentralized Trust Through Blockchain
• 20.4 Financial Inclusion Through Decentralized, Automated Trust on Blockchains
• 20.5 Summary
• References