For this week’s research article, we dive into new insights on fintech market, banking, insurance, payments, trends, diversity in fintech and more. Happy reading!
UKRAINE: Timeline of Cyberattacks on critical infrastructure and civilian objects (Cyber Piece Institute)
Against the backdrop of the military invasion of Ukraine, the CyberPeace Institute is tracking how cyberattacks and operations are, and have been, targeting critical infrastructure and civilian objects. The tracking of cyberattacks and incidents as they become public is important in order to record these attacks and identify – where possible – the harm and risks for civilian populations. Cyberattacks affect people and risk lives. Civilian populations are protected under international humanitarian law. Read more.
Taiwan Invests Billions in Next-Generation Talent for Chip Industry (Opengovasia)
Wanting to meet rising demand, Taiwan is racing to set up specialised “chip schools” that run all year round to train its next generation of semiconductor engineers. Such a timely move should cement its dominance of the industry. The plans to come up with quality talent in the Information and Communication Technology (ICT) industry was championed by President Tsai Ing-wen. Last year, under the country president’s initiative, the public and the private sector invested US$ 300 million to kickstart graduate school programs aimed at the semiconductor industry. This time around the private sector is infusing far more capital to ensure the lifeblood of the industry. Read more.
China’s digital yuan could challenge the dollar in international trade this decade, fintech expert predicts (CNBC)
China’s digital yuan is set to challenge the dollar’s domination as the currency of choice in international trade settlements, predicts author and financial technology consultant Richard Turrin. China has been ramping up efforts to roll out its central bank digital currency, and is currently far ahead in the space as compared with its global peers. Nations are likely to look for alternative payment systems as part of a “risk management exercise” to reduce their current dependence on the dollar, says Turrin. Read more.
Banking for the good times and the bad (Fintech Futures)
The Resolution Foundation has said that rising oil and gas prices will hit UK households with a 4% drop in income, which is around £1,000 a year. The Centre for Economics and Business Research Consultancy estimates the impact will be £2,500 annually per household, the largest fall in UK income since 1955! While the government will be providing support to the poorest households, as it has during Covid, responsibility to manage this situation lies with us all, and the focus of my posts is really on banking. Read more.
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