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EconVue FinTech Spotlight August 4, 2018
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2018-08-04 20:41:05
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Image: To see the original, click here: http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct34_0/1?sid=TV2%3AVnkBchEvA Target URL: http://www.econvue.com EconVue Spotlight Dear R. Hunter, My name is Ying Zhan, managing editor at EconVue. Since Lyric has literally gone fishing at #Camp Kotok, the annual economic conference in Maine, I'll be taking over this special edition of Spotlight. You can follow the conference on Twitter http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct1_1/1?sid=TV2%3AVnkBchEvA . We have some very exciting news to share with all of you. Our new office is officially open for business! Located in the West Town neighbourhood of Chicago, we now have a venue to host events and produce podcasts with our experts http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct2_1/1?sid=TV2%3AVnkBchEvA . In addition to 5000 books that Lyric and David collected over time, one of our proudest possessions is a Chinese typewriter that Lyric acquired in the 80s during one of her early business trips to China. Image: At left is the Chinese typewriter at our office, on the right is Che Guevara checking out a Chinese typewriter a bit earlier than that. To see the original, click here: http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct35_0/1?sid=TV2%3AVnkBchEvA This week's spotlight focuses on FinTech. EconVue expert Collin Canright http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct3_1/1?sid=TV2%3AVnkBchEvA reports that the relationship between FinTech firms and incumbent financial institutions is entering a new stage. Just two examples: Backed by Microsoft and Starbucks, the owner of the NYSE Intercontinental Exchange is launching a startup called Bakkt http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct4_1/1?sid=TV2%3AVnkBchEvA to make cryptocurrency safe for your retirement fund, and maybe for retail, too. Here in Chicago, Northern Trust is getting into the crypto custody business. Thanks for reading and stay tuned for our next spotlight after Lyric returns. RESEARCH BY ECONVUE EXPERTS Data Round-Up: Another Strong Jobs Report -- Private Payroll Trend Improving http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct5_1/1?sid=TV2%3AVnkBchEvA Michael Lewis http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct6_1/1?sid=TV2%3AVnkBchEvA Ignore naysayers, this was a very strong jobs report. With upward revisions, the private payroll jobs trend has improved. Unemployment is falling (under-employment is at a new cycle-low). Elsewhere, trade matched consensus expectations and BEA's estimates for 18Q2 Advance GDP. NMI was disappointing but still healthy. The FinTech Tipping Point http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct7_1/1?sid=TV2%3AVnkBchEvA Collin Canright http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct8_1/1?sid=TV2%3AVnkBchEvA The relationship between FinTech firms and incumbent financial institutions appears to be entering the next phase of their evolution. The first two items in this week's newsletter explore how FinTech has transformed finance and provide a context for strategic partnerships that can produce results. Security Challenges in Ecuador http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct9_1/1?sid=TV2%3AVnkBchEvA R. Evan Ellis http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct10_1/1?sid=TV2%3AVnkBchEvA This report provides a useful brief overview of Ecuador's security challenges and the capabilities of its military in contributing to the response to that challenge, as well as the relationship with the U.S. CMS Misdirection: Two Troubling Decisions Damage Market Competitiveness http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct11_1/1?sid=TV2%3AVnkBchEvA David Johnson http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct12_1/1?sid=TV2%3AVnkBchEvA In well-functioning healthcare markets, governmental regulatory policies ensure access, safety, quality and privacy. The government's most important role is creating level-field competition through balanced regulation, targeted enforcement actions and price/outcomes transparency. Unfortunately, many healthcare markets do not function efficiently. STORIES IN OUR SPOTLIGHT FinTech Why design is the killer app for crypto http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct13_1/1?sid=TV2%3AVnkBchEvA Connie Yang 8/3/2018 the Coinbase Blog Clarifying read about barriers to understanding cryptocurrencies. Treasury releases report on nonbank financials, fintech, and innovation http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct14_1/1?sid=TV2%3AVnkBchEvA U.S. Department of the Treasury 7/31/2018 A must read but surprisingly little said about crypto. Asset management firm Northern Trust to start crypto custody business http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct15_1/1?sid=TV2%3AVnkBchEvA Ana Alexandre 7/31/2018 Coin Telegraph Bricks and mortar banks with built-in security are an ideal custody solution for cryptocurrency keys as well. UK fintech scores the global top spot for investment in the first half of 2018 http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct16_1/1?sid=TV2%3AVnkBchEvA Emily Nicolle 7/31/2018 City A.M. Amazing. What was that about the City losing it all to Paris and Frankfurt? SEC ruling on the Bitcoin ETF http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct17_1/1?sid=TV2%3AVnkBchEvA 7/26/2018 Securities and Exchange Commission Although the Commission is disapproving this proposed rule change, the Commission emphasizes that its disapproval does not rest on an evaluation of whether bitcoin, or blockchain technology more generally, has utility or value as an innovation or an investment. U.S. Employers Eager to Hire Try a New Policy: ‘No Experience Necessary' http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct18_1/1?sid=TV2%3AVnkBchEvA 8/3/2018 Wall Street Journal No more purple squirrels. Downskilling is a seismic change in hiring policies impacting productivity, wage levels, student loans, household formation and social cohesion. Contrarian prediction: automation will impact higher skilled jobs disproportionately. The pension hole for U.S. cities and states Is the size of Germany's economy http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct19_1/1?sid=TV2%3AVnkBchEvA Sarah Krouse 7/30/2018 Wall Street Journal Illinois in the forefront: the dire state of local government pensions is starting to hit retirees who don't have time to figure a Plan B. Here's how America uses its land http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct20_1/1?sid=TV2%3AVnkBchEvA Dave Merrill and Lauren Leatherby 7/31/2018 Bloomberg Americans love their steaks and hamburgers. Trump-supporting soybean farmers say they'll gladly suffer "to the death" for his trade war http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct21_1/1?sid=TV2%3AVnkBchEvA Jason Lemon 7/29/2018 Newsweek Implications for the mid-term elections? Asking for Illinois A universal basic income experiment could be coming to Chicago http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct22_1/1?sid=TV2%3AVnkBchEvA Sinéad Baker 7/23/2018 World Economic Foru HOW will we pay for it? Health Care 'Insane': America's 3 largest psychiatric facilities are jails http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct23_1/1?sid=TV2%3AVnkBchEvA Ailsa Chang 4/25/2018 NPR America's three largest mental health facilities are in fact jails. A century since the 1918 pandemic http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct24_1/1?sid=TV2%3AVnkBchEvA Timothy M. Uyeki, Robert A. Fowler, William A. Fischer II 7/30/2018 JAMA Network Is the world ready for another flu season? "This year is not only the centennial of the 1918 pandemic, but also marks the 50th anniversary of the 1968 pandemic that introduced influenza A (H3N2) viruses into humans" The tragedy of the healthcare data commons http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct25_1/1?sid=TV2%3AVnkBchEvA John Battelle 7/29/2018 Evonomics Imagine "a future in which everything you do, the things you buy, the food you eat, the time you spend watching TV, may help determine how much you pay for health insurance." Only the most virtuous-and lucky-will be able to afford it. World Austerity, not just climate change, is to blame for Greece's deadly fires http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct26_1/1?sid=TV2%3AVnkBchEvA Yanis Varoufakis 7/26/2018 th Globe and Mail The unintended but perhaps inevitable consequences of austerity will be harder to put out than any fire. Iran is planning to launch its own cryptocurrency in order to bust U.S. sanctions http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct27_1/1?sid=TV2%3AVnkBchEvA David Meyer 7/26/2018 Fortune Magazine A Persian Petro? Iran fired ITS central bank governor yesterday for failure to prepare for US sanctions. Now it is planning to launch Its own cryptocurrency to bust the sanctions. India gets a high-tech boost as US elevates India to most-important allies list http://content.davidhaleweb.com/acton/ct/3037/s-01fb-1808/Bct/l-sf-cl-701C0000000UEmJIAW-0024/l-sf-cl-701C0000000UEmJIAW-0024:15c/ct28_1/1?sid=TV2%3AVnkBchEvA 7/31/2018 the Economic Times Indicative of new US global strategy. With all best wishes, Ying Zhan Managing Editor Econvue.com https://www.econvue.com Facebook https://www.facebook.com/Econvue-1441609279386714/ Twitter https://twitter.com/lyrichues Subscribe to Econvue https://econvue.com/why-subscribe "What's Next? Unconventional Wisdom on the Future of the Global Economy" http://whatsnextbook.com/ ©2018 EconVue, LLC. All rights reserved. This document may not be quoted, forwarded, disseminated, distributed, or published without the express written consent of EconVue, LLC. 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