Tag Archives: FinTech Ed

Fintech, Blockchain, and Modernizing Global Payment Systems

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Fifteen years after its introduction, blockchain technology promised to revolutionize payments with near-instant transactions, minimal costs, and no intermediaries. However, much of the progress in payments has come through fintech innovations, largely independent of blockchain, which have significantly enhanced speed, accessibility, and convenience. https://www.youtube.com/watch?v=WsDwnRt3L4g&t=595s
This presentation explores: 1) the structure of traditional payment systems, examining central bank versus private money, real-time gross versus batch net settlement, and bank payment “rails”; 2) the impact of recent fintech breakthroughs, spotlighting India’s Unified Payments Interface, Square’s integrated financial services, and Kenya’s M-Pesa; and 3) blockchain’s role in reshaping cross-border payments through platforms like Ripple and the emergence of stablecoins.

FinTech MIT Open Course – Shaping the Financial World with Prof. Gary Gensler

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Gary Gensler shares insights into his teaching approach for the course 15.S08 FinTech: Shaping the Financial World, which examines how technology is transforming the finance industry. The curriculum delves into cutting-edge topics like artificial intelligence, deep learning, blockchain, and open APIs. Designed for those eager to understand how technology is reshaping financial services, the course explores its impact on business models, products, applications, and user experiences.

Students will investigate significant trends shaping the financial landscape of the 2020s, including advancements in AI, blockchain, and open API ecosystems. The course focuses on four key areas of opportunity: payments, credit, trading, and risk management. Additionally, it examines the competitive dynamics between FinTech startups, established financial institutions, and global tech giants across regions such as the U.S., China, India, and Europe.

Through this journey, students will gain a comprehensive understanding of the technologies, market structures, regulations, and disruptions driving change in finance. The term “FinTech” itself has evolved over the past two decades to describe how innovations like machine learning and blockchain are revolutionizing the industry. However, FinTech’s roots stretch back to the invention of money and accounting ledgers—early examples of financial technologies. Today, it reflects the ongoing transformation of finance by leveraging modern advancements, from machine learning to the Internet of Things.