Stanley’s Musings - Fintech, Banking & Payments News #2

Thoughts on fintech, banking, payments, risk management, AI, going green, economics, business and much more…

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Current news on Banking, Fintech, Blockchain, Crypto, Financial Services and Technology issues as well as Training Courses may now be found on Stanley Epstein Training - Banking and Fintech News

Death of the NFT

There is some bad news for NFT fans. The digital collectibles are pretty much worthless now.

Using data from NFT Scan, the crypto platform dappGambl found that 95% of the 73,257 non-fungible token collections (e.g., Bored Ape Yacht Club) it analyzed are worth 0 ether. In other words, if NFTs were physical objects, it’d be time to put them on the same garage shelf where your Beanie Babies went to die. The report estimates that 23 million people are now the owners of worthless digital files. The crash is mainly for one reason: There just isn’t enough demand to keep up with supply.

(Culled from the MORNING BREW)

What will it take to control AI?

The Economist brought together Yuval Noah Harari and Mustafa Suleyman to grapple with the biggest technological revolution of our times. They debate the impact of AI on our immediate futures, how the technology can be controlled and whether it could ever have agency.

Crypto: The World’s Greatest Scam

Bitcoin to Blockchains, to NFTs, to Web 3.0... it's time to find out if it's really all the hype or just part of one of the greatest scams in human history.

EU Just Changed Smartphones Forever

A new EU law will require all mobile devices to have user-replaceable batteries by 2027. In this episode we take a look at the law, it's consequences and right to repair.

‘Treated Risk Management Like A Total Afterthought’: Tina Smith Raises Concern About SVB Failure

During a Senate Banking Committee hearing prior to the Congressional recess, Sen. Tina Smith (D-MN) questioned witnesses about the recent failures of Silicon Valley Bank & Signature Bank.