Reshaping the financial order

Publication Type

Book Chapter

Publication Date

8-2017

Abstract

The financial system, which governs and manages the practice of deposits, lending and payments, is in the throes of disruption following the shortcomings of the current regime. Despite US$11 trillion in quantitative easing since 2007, economic growth has been persistently sluggish. The money isn't going where it should be. In 2015, McKinsey reported that global debt had grown by US$57 trillion since 2007. The debt is becoming unsustainable, yet the global debt-to-income ratio continues to rise disproportionally to any deleveraging. The Fed's meandering signaling to nudge up interest rates beyond the near zero range raises concerns that private and even public debt could become unserviceable, reeling the economy back into a serious recession.

Keywords

Bitcoin, Blockchain, Digital payments, E-commerce, Financial regime, Financial system, FinTech, LASIC

Discipline

Finance and Financial Management | Technology and Innovation

Publication

Handbook of Blockchain, Digital Finance, and Inclusion

Volume

1

Editor

David Kuo Chuen Lee & Robert Deng

First Page

1

Last Page

18

ISBN

9780128104415

Identifier

10.1016/B978-0-12-810441-5.00001-4

Publisher

Elsevier

City or Country

Cham

Additional URL

https://doi.org/10.1016/B978-0-12-810441-5.00001-4

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