The Race FinTech Should Win Easily and Why it Has no Chance Already

FinTech holds all the cards — regulation dealt it a hand that requires no bluffing or smart play. Simply take advantage of the current situation and there is almost no reason that any other industry or tech player should be able to compete with the head start open banking has afforded. The opportunity I’m talking about is multifaceted but the elements of it overlap to such an extent that it can be summarised as Digital Identity and Assets, or rather the ownership of those two things.

When I talk about ownership, the immediate kneejerk reaction is that we already own them. We have identification in the form of government documents, I have the deed to my home and the license of ownership for my car safely stored at home. What are you talking about?

And you would be absolutely correct, with one minor caveat.

The world is distinctly separate right now, where physically we exist in the analog world, virtually we broaden our virtual identity and footprint every day. The problem is that we do not own our digital assets, nor is there any simple way for us to reclaim and control them. Physically we are free, digitally we are not is the way I have begun explaining this. Prior generations main assets were physical, the futures will be digital takes it further. This is something that I feel…