Cashless Economy – Risks & Rewards

Kary Bheemaiah, Author of the book, The Blockchain Alternative, from Paris, France participates in Risk Roundup to discuss – Cashless Economy – Risks & Rewards. Cashless Economy – Current state From electronic banking to PayPal to digital wallet systems, Venmo and Square, as the progression of non-cash transactions evolve rapidly, the advances in technology, are fundamentally changing the way we pay for goods and services across nations. As a result, any financial transaction that individuals and entities across nations: its government, industries, organizations, and academia (NGIOA) would have undertaken with cash in the past, are now increasingly being undertaken in many different digital formats. While financial transactions are already being conducted using credit and debit cards, it seems that there is more innovation to come as the broader financial markets go through technology transformation. Cashless Economy – Way Forward As a result, the competition in digital payment methods is getting fierce, and today, cash seems to be no longer the dominant payment method across nations. So, when nations are going through a fierce battle between different modes of digital payment and are experiencing a rapid and growing use of diverse digital methods of recording, managing, and exchanging money in commerce, investment, and consumer life, it is important to understand and evaluate: Evolution in digital paymentsRole of blockchainTrends and driversImpact of the cashless economyNation PreparednessPotential of blockchain in the payment marketFuture Trends  – Cashless Economy Conclusion – Cashless Economy While there is growing excitement that a cashless economy marks the beginning of a new era, there are many complex challenges that need to be overcome.  Time is now to talk about risks emerging from the Cashless Economy! For more please watch the Risk Roundup Webcast or hear the Risk Roundup Podcast About the Guest A tech fan, news addict, and data hound, Kariappa have had a varied career, as a marine engineer, a legionnaire in the French Legion, and currently as a researcher, lecturer, author & consultant. Having had the opportunity to present his thoughts on capitalism at a couple of TEDx events in France, he frequently blogs and speaks on issues pertaining to technology and economics. His first book, “The Blockchain Alternative: Rethinking Macroeconomic Policy and Economic Theory” was published by Springer-Apress in March 2017. His articles and opinions on a range of subjects can be found on WIRED, Harvard Business Review, World Economic Forum, Les Echos, The Conversation, Let’s Talk Payments, Huffington Post, and La Presse+. Some of his work is in French and has also been translated into Japanese. He is an Associate Research Scientist with Cambridge, a Senior Fellow at Ecole des Ponts and a visiting lecturer at GEM, ESCP, and Moody’s. Mission-focused and self-aware, his motto of adaptation is to read history, be conscious of what’s going on, and design an environment that helps capture flashes of insight. He identifies himself as an economic sociologist, an expert generalist, and an epiphany addict. About Risk Group Risk Group is a leading strategic security risk research and advisory organization. Copyright Risk Group LLC. All Rights Reserved Reference Episodes: The Rise of Initial Coin Offering (ICOs)- Risks and RewardsEmerging Technologies GeopoliticsProtecting CryptocurrencyBlockchain based Insurance Model for Managing Aging Infrastructure RisksSmart Contracts – Risks & RewardsBlockchain & Machine Learning Based Content PlatformBlockchain Based Risk TransferBlockchain Revolution – Risks & RewardsSecuring the Internet of Things using Blockchain ConvergenceThe Convergence of Blockchain and Internet of ThingsBlockchain Applications for Emerging EconomiesBlockchain based Creative Content CollaborationApplications of Blockchain TechnologyWhat Should Bankers Know About Financial TechnologyBlockchain based Network SecurityDigital Transformation of Financial IndustryWill Blockchain Secure the Internet of ThingsNeed for Cryptocurrency Standards The post Cashless Economy – Risks & Rewards appeared first on Risk Group.