Ajmal Samuel, CEO, Octo3 discusses with NexChange the biggest barriers to entry for wannabe disruptors in Hong Kong: domain knowledge. Most don't understand the arcane details and the challenges entailed when it comes to fintech -- and when they do, many just "run away."
Toronto-based MaRS is forging partners globally to benefit fintech companies. In November, MaRS paired up with Hong Kong's Cyberport for a one-day conference. In an interview with NexChange, Adam Nanjee, head of financial technology at MaRS, explains the strategy and how it benefits fintech startups.
As we go into 2016, blockchain’s role in the future of finance is less of an idea and more of a reality as Nasdaq claims to have made the first blockchain-based share sale. Blockchain, the decentralized digital ledger technology that underpins cryptocurrencies, has been one of the big buzzwords in financial technology over the past couple of years as banks
Jacob Wai, a committee member of the Hong Kong Computer Society, says Hong Kong needs to cultivate more IT talent to get to the next level in fintech. In an interview with NexChange, Wai notes that the island nation has a superior finance talent base.
Hong Kong needs to develop more accelerators and angel investors, says Tak Lo, director, TechStars in London. "There is lots of private money in Hong Kong spent on other things," he tells NexChange at an O-2-O event sponsored by Cyberport.
Hong Kong is still in the very early phases of developing a startup ecosystem -- founders are imitating others rather than tackling local problems, says Tak Lo, director, Techstars in London. At a recent O-2-O meetup at Cyberport in Hong Kong, Lo tells NexChange startups are "recycling" ideas. As they mature they will become more focused on what is needed
Toronto-based MaRS serves as a hub for young companies ready to grow. In an interview with NexChange, Adam Nanjee, head of financial technology at MaRS, explains the basic needs of these companies: access to venture capital, customers, talent, and exposure.
Ajmal Samuel explains the downside to working inside a bank incubator. "You can't innovate under one brand," says the CEO of Octo3 at a recent O-2-O gathering at Cyberport. Samuel tells NexChange that real innovators need to find a space outside the financial institutional scene to create.
Many founders get fixated on the cool factor of their technology. That's a mistake, says Ajmal Samuel, CEO, Octo3. At a recent O-2-O meetup at Cyberport, Samuel tells NexChange that we should re-label fintech as biztech.
Predicting the value of a commodity as volatile as Bitcoin is a treacherous endeavour at the best of times. But a few analysts have popped their heads about the parapet to give it a shot. According to CoinTelegraph, the predictions are bullish but also very speculative (so it's advised not to make any investment decisions based on them). Estimates vary