Our primary goal is to help you to understand FinTech and to become more confident and persuasive in your ability to analyze and make recommendations to executives within the finance industry regarding how to react to these changes. This FIRST MOOC ON FINTECH IN ASIA-PACIFIC offered by HKUST presents the insight of several professors from the top business school in Asia as well as perspectives from industry professionals. HKUST has been ranked for many years as the No.1 EMBA program in the world, as the number one Finance program in Asia, and as the top MBA program in Asia by multiple independent rating and review journals and surveys. This course "FinTech Foundations and Overview" offers the combined strengths of HKUST in Business, Finance, and Technology as one the world's leading academic institutions on an important area of technology and business innovations. For learners from outside Asia, this also gives an insight into changes happening in the most advanced FinTech markets of the world, since Asia leads worldwide in FinTech adoption and creative innovations.
1.8: FinTech For Investors (Part 2)
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來自 The Hong Kong University of Science and Technology 的課程
FinTech Foundations and Overview
48 個評分
The Hong Kong University of Science and Technology
48 個評分
課程 1（共 4 門，Specialization FinTech: Finance Industry Transformation and Regulation）
從本節課中
Introduction to FinTech
In this module (week one), students will gain a multi-dimensional perspective on what FinTech means from the perspective of large firms (and older participants in the industry - e.g. dinosaurs), entrepreneurs, investors, and consumers. Examining what FinTech is, or is not, provides a foundations upon which students can build for better understanding of opportunities and changes.
與講師見面
Theodore Henry King CLARKAssociate Professor
Information Systems, Business Statistics and Operations Management Department
>>Okay. So, things are moving fast
We've got a fast profits, fast losses
The industry is transforming
>>Yeah
>>How do young people or investors that are excited
about Fintech and crypto feel about traditional banks?
>>I would say a lot of them
I know a lot of people that have crypto and they don't have stocks
Now, that it sounds completely bizarre to somebody a bit older
They're like "Why wouldn't you double-
>>Diversify
>>diversify or double with the traditional investment before you move on to this
>>So, your dad might say that
>>Yes. My dad would definitely say that. So
>>Okay
>>I mean, I think a lot of
Yeah, it just comes down to people are, they grew up with this
They grew up of tech. So, they're more likely to double with that than
A lot of times when we talk about like stocks
>>And does a fast scare them?
>>I think that's part of the excitement a lot of it
>>Okay
>>I mean
>>Better to live fast than have fun >>We like the adrenaline
>>Yeah. Better to live fast. Yeah
>>Yeah. Exactly
>>Okay
>>So
That enthusiasm
Yeah
So, how do you win with Fintech?
How do you win with crypto? How do you win with this
>>Well
>>new technological capabilities?
>>If you're going to do a crypto investing
a lot of it is identifying short and long-term value
So, in terms of
you want to look for companies that are already generating
revenue using blockchain technology
in addition to developing technology that can
>>em… generating…
>>to generate other revenues
>>To generating revenue
Are they generating revenue just from selling cryptocurrencies?
Are they generating revenue by doing something
with blockchain that is more than just a cryptocurrecncy?
There's a lot of different ways for a company to raise money
They could sell their utility tokens, that's one way
Another way that we've seen in like the last quarter
is companies are starting to try to sell security tokens. So
>>Okay
>>a lot of the times
Yeah
Companies are finding different ways to raise money
An interesting example that I've seen recently is a company
So, let's say we have
we have Kickstarter. So
>>Hm-mmm
>>An evolution of Kickstarter is
>>Right
>>there's a new coin
>>Okay
>>That will basically-
>>So, we got a crypto Kickstarter
>>Yeah. We got an evolution of Kickstarter here
So, basically you would pledge your money and if the pledge amount was reached
if they raised enough funds then the token would execute the contract
If it didn't, then they would come back to you
So, that's a small example of a company using Blockchain to advance a current trend
>>I don't want to be too skeptical here
but one of the things that comes to mind is it
seems like everybody's coming out with an ICO
>>Oh, yeah
Everybody's launching their cryptocurrency
I mean, recently the government of Turkey decided they were going to
launch a cryptocurrency. I mean
it's kind of like "Wait a minute. I thought the idea of-
>>Right
>>Bitcoin being valuable was that you wanted to get rid of the government role and
the tendency toward inflated currency called a fiat currency, traditional currency
Bitcoin is wonderful because it's limited
When a government is issuing it
I don't know that I trust that government with
>>Right
>>the crypto anymore than I do with their paper
>>Right. There's been a lot of issues with ICOs in general
in terms of fraud or just you know
they're not issuing the tokens which is not doing what they say on their white paper
>>But the governments may be the best of the bunch but
>>Em…
>>lots of fraud
>>In theory, the government should be the ones that are protecting people
and a lot of governments have taken steps to regulate
>>Okay.
>>or restrict the ICOs. We've seen, for example, China
>>But many people like in Bitcoin, don't like governments
>>Yeah. In general, a lot of people
One of the flags that they always carry is that
you know, there's a reason why this exists
is because governments, banks and regulations are a hindrance to the free market
and they corrupt politicians and stuff like that. So
>>Yeah
>>There's a lot out of
>>This is kind of a social theme combined with an investor thing
>>There is definitely a social theme to this
to the whole development for sure
>>Okay. So, it is interesting
I was curious to look and see that there's more than a thousand coins
>>Oh yeah. There is
>>of various types
>>Yeah
>>It seems like a lot of the money is in the top five or so
>>Yeah. There's large amount of money in cryptocurrency right now
You know, there's just a thousand coins that you can see a coin market cap
but in reality there are thousands more
that they don't even put there but they exist as off. So, there's
>>So, would you-
>>If you want you could create a coin today. So, yeah
>>What would you say if I said I think there's a lot of reasons to be bullish about
blockchain and skeptical about
Bitcoin or any other particular implementation of a digital currency
>>Well, in terms of crypto against
by nature are going to be very volatile
So, that's not necessarily a bad thing
I mean in terms of investment
>>Yeah. You said it's kind of exciting
>>You have to, there has to be some amount of
volatility in the market to make money, right? And
>>I'm not sure Warren Buffett would agree
I mean, he tends to buy things for the long term
>>For sure
>>And he's done pretty well
So, it's an alternative
>>Yeah
>>viewpoint that volatility is not something Warren is interested in
He's investing in the long-term
>>I would say to that that you can make money by
like in a bull market, in a bear market
you can make money but it's the pigs that get slaughter
It's the people that are standing
they're doing nothing, that typically gets slaughter here
>>But isn't Warren Buffett standing doing nothing? I mean buys the company
>>I mean, I think
>>he holds it. He's held it for 20-30 years
He doesn't sell
He doesn't buy very often
You sitting on a lot of cash
Isn't Warren Buffet a pig?
>>I would say a lot of the
in terms of, the basically there is a different ways of doing analysis here
That in terms of fundamental analysis
a lot of which is what he typically does, right?
In terms of fundamental analysis
a lot of these coins have little to no value
and a lot of them are going to be dead soon, but there are a lot
there's a lot of fundamental technology behind them
that I believe we'll change the world
You know, If you get in on the ground floor there's a lot of upside, potential upside
Obviously, there's a lot of risk as well but you know
that's, so be it
That's part of life. No risk, no reward, right? So
>>This is helpful. Thank you for sharing your views on this
Let me summarize something about crypto
We have come back to cryptocurrency
Blockchain, Bitcoin etc.
Let me say that this is that
there are some intriguing aspects of this world of finance
This world of ICOs
I can understand why people are skeptical
>>Yeah
>>I can understand why people are enthusiastic
>>Yeah
>>There are reasons for both points of view
>>Yeah
There reasons to be optimistic about the future of Bitcoin
about the future of Ethereum
about the future some currencies
There's also good reasons to be scared and good reasons to be cautious
because some of these things are frauds
Some of them are over-hyped and overvalued
just like I mentioned the dot-com boom burst
Well, Amazon is worth more now than it was at the peak of the boom. So
>>There we go
>>you know, I mean, it doesn't mean just because things
are overvalued and then undervalued
that they aren't worth something
So, this may be our long-term value proposition
much the way that we are still using gold
>>Yeah
>>We'd been using gold for a long time as a store of value
>>Yeah. I think you could sum it up as cautious optimism
That, you know, this is something that's emerging and very new
We could see the potential of it
but there are a lot of risks in this field. So
>>One
>>cautiously optimistic
>>One last question
Some people have said that Bitcoin is millennial's digital gold of the new era
Do you buy into that?
>>In terms of as a storage value like
>>Yeah. Kind of. I mean
>>I would say that some people
I'd say a most people are buying it for the long-term
Either their day trading it or they're holding it for like a long period of time
Not really to, in the traditional sense of gold
they're more concerned with their profits and
>>They're both concerned with the upside
>>Yeah
>>not with inflation
>>Yes. I would say it's not really as an inflation hedge
>>Okay
>>I'd say most people that are involved are holding it for
five years hoping it goes to the moon or they're doing some sort of day trading
>>So, they're not holding it hoping that it will retain its value like the gold
>>Yeah
I would say
>>They're saying "We think there's huge upsides"
>>Yes
I would say lot of people are
>>the great deal in enthusiasm as well as
>>Yeah
>>potentially fear
>>Yeah. I think a lot of people try to get in on the ground floor or
>>Okay
>>The first floor. Yeah
>>All right
>>Ride the elevator outside
>>Well, thank you very much
>>Okay
>>for sharing your views with us
>>Yeah
>>And for being part of our discussion today
>>Thanks for having us. Yeah
>>Okay
>>All right. Thank you
