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 payments
- Role of blockchain
- Trends and drivers
- Impact of the cashless economy
- Nation Preparedness
- Potential of blockchain in the payment market
- Future 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
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Reference Episodes:
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Protecting Cryptocurrency
Blockchain based Insurance Model for Managing Aging Infrastructure Risks
Smart Contracts – Risks & Rewards
Blockchain & Machine Learning Based Content Platform
Blockchain Based Risk Transfer
Blockchain Revolution – Risks & Rewards
Securing the Internet of Things using Blockchain Convergence
The Convergence of Blockchain and Internet of Things
Blockchain Applications for Emerging Economies
Blockchain based Creative Content Collaboration
Applications of Blockchain Technology
What Should Bankers Know About Financial Technology
Blockchain based Network Security
Digital Transformation of Financial Industry
Will Blockchain Secure the Internet of Things
Need for Cryptocurrency Standards
Future of Work – Battle between Human Work Force and Machine Work Force 