Fintech May Impact Financial Stability, For Better Or Worse
Law360 (June 7, 2019, 9:06 PM EDT) -- Decentralized financial technologies may impact global financial stability, the Financial Stability Board said in a report, but it will take some time before the extent and nature of the effects are known.
The FSB report published Thursday said the decentralization of risk-taking, decision-making and record-keeping in the financial sector, largely through the adoption of fintech, could have an impact on economic stability over time. It could go both ways according to the FSB, however, with the potential to both stabilize or destabilize the financial sector.
Applications of decentralized technologies can range from peer-to-peer lending, cross-border payments and tokenization to trade finance...
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