Subject: EconVue FinTech Spotlight August 4, 2018
From: "Ying Zhan" <[email-masked]>
To: "R. Hunter Biden" <[email-masked]>
Date: Sat, 4 Aug 2018 13:41:05 -0700 (PDT)

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EconVue Spotlight

Dear R. Hunter,

My name is Ying Zhan, managing editor at EconVue. Since Lyric has 
literally gone fishing at #Camp Kotok, the annual economic conference in 
Maine, I'll be taking over this special edition of Spotlight. You can 
follow the conference on Twitter

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.

We have some very exciting news to share with all of you. Our new office 
is officially open for business! Located in the West Town neighbourhood 
of Chicago, we now have a venue to host events and produce podcasts with 
our experts

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.

In addition to 5000 books that Lyric and David collected over time, one 
of our proudest possessions is a Chinese typewriter that Lyric acquired 
in the 80s during one of her early business trips to China.

Image: At left is the Chinese typewriter at our office, on the right is Che 
Guevara checking out a Chinese typewriter a bit earlier than that. 

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This week's spotlight focuses on FinTech. EconVue expert Collin Canright

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reports that the relationship between FinTech firms and incumbent 
financial institutions is entering a new stage.

Just two examples: Backed by Microsoft and Starbucks, the owner of the 
NYSE Intercontinental Exchange is launching a startup called Bakkt

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to make cryptocurrency safe for your retirement fund, and maybe for 
retail, too. Here in Chicago, Northern Trust is getting into the crypto 
custody business.

Thanks for reading and stay tuned for our next spotlight after Lyric 
returns.

RESEARCH BY ECONVUE EXPERTS

Data Round-Up: Another Strong Jobs Report -- Private Payroll Trend 
Improving

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Michael Lewis

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Ignore naysayers, this was a very strong jobs report. With upward 
revisions, the private payroll jobs trend has improved. Unemployment is 
falling (under-employment is at a new cycle-low). Elsewhere, trade 
matched consensus expectations and BEA's estimates for 18Q2 Advance GDP. 
NMI was disappointing but still healthy.

The FinTech Tipping Point

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Collin Canright

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The relationship between FinTech firms and incumbent financial 
institutions appears to be entering the next phase of their evolution. 
The first two items in this week's newsletter explore how FinTech has 
transformed finance and provide a context for strategic partnerships 
that can produce results.

Security Challenges in Ecuador

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R. Evan Ellis

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This report provides a useful brief overview of Ecuador's security 
challenges and the capabilities of its military in contributing to the 
response to that challenge, as well as the relationship with the U.S.

CMS Misdirection: Two Troubling Decisions Damage Market Competitiveness

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David Johnson

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In well-functioning healthcare markets, governmental regulatory policies 
ensure access, safety, quality and privacy. The government's most 
important role is creating level-field competition through balanced 
regulation, targeted enforcement actions and price/outcomes 
transparency. Unfortunately, many healthcare markets do not function 
efficiently.

STORIES IN OUR SPOTLIGHT

FinTech

Why design is the killer app for&nbsp;crypto

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Connie Yang 8/3/2018 the Coinbase Blog

Clarifying read about barriers to understanding cryptocurrencies.

Treasury releases report on nonbank financials, fintech, and innovation

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U.S. Department of the Treasury 7/31/2018

A must read but surprisingly little said about crypto.

Asset management firm Northern Trust to start crypto custody business

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Ana Alexandre 7/31/2018 Coin Telegraph

Bricks and mortar banks with built-in security are an ideal custody 
solution for cryptocurrency keys as well.

UK fintech scores the global top spot for investment in the first half 
of 2018

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Emily Nicolle 7/31/2018 City A.M.

Amazing. What was that about the City losing it all to Paris and 
Frankfurt?

SEC ruling on the Bitcoin ETF

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7/26/2018 Securities and Exchange Commission

Although the Commission is disapproving this proposed rule change, the 
Commission emphasizes that its disapproval does not rest on an 
evaluation of whether bitcoin, or blockchain technology more generally, 
has utility or value as an innovation or an investment.

U.S.

Employers Eager to Hire Try a New Policy: ‘No Experience Necessary'

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8/3/2018 Wall Street Journal

No more purple squirrels. Downskilling is a seismic change in hiring 
policies impacting productivity, wage levels, student loans, household 
formation and social cohesion. Contrarian prediction: automation will 
impact higher skilled jobs disproportionately.

The pension hole for U.S. cities and states Is the size of Germany's 
economy

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Sarah Krouse 7/30/2018 Wall Street Journal

Illinois in the forefront: the dire state of local government pensions 
is starting to hit retirees who don't have time to figure a Plan B.

Here's how America uses its land

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Dave Merrill and Lauren Leatherby 7/31/2018 Bloomberg

Americans love their steaks and hamburgers.

Trump-supporting soybean farmers say they'll gladly suffer "to the 
death" for his trade war

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Jason Lemon 7/29/2018 Newsweek

Implications for the mid-term elections? Asking for Illinois

A universal basic income experiment could be coming to Chicago&nbsp;

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Sinéad Baker 7/23/2018 World Economic Foru

HOW will we pay for it?

Health Care

'Insane': America's 3 largest psychiatric facilities are jails

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Ailsa Chang 4/25/2018 NPR

America's three largest mental health facilities are in fact jails.

A century since the 1918 pandemic

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Timothy M. Uyeki, Robert A. Fowler, William A. Fischer II 7/30/2018 JAMA 
Network

Is the world ready for another flu season? "This year is not only the 
centennial of the 1918 pandemic, but also marks the 50th anniversary of 
the 1968 pandemic that introduced influenza A (H3N2) viruses into 
humans"

The tragedy of the healthcare data commons

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John Battelle 7/29/2018 Evonomics

Imagine "a future in which everything you do, the things you buy, the 
food you eat, the time you spend watching TV, may help determine how 
much you pay for health insurance." Only the most virtuous-and 
lucky-will be able to afford it.

World

Austerity, not just climate change, is to blame for Greece's deadly 
fires

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Yanis Varoufakis 7/26/2018 th Globe and Mail

The unintended but perhaps inevitable consequences of austerity will be 
harder to put out than any fire.

Iran is planning to launch its own cryptocurrency in order to bust U.S. 
sanctions

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David Meyer 7/26/2018 Fortune Magazine

A Persian Petro? Iran fired ITS central bank governor yesterday for 
failure to prepare for US sanctions. Now it is planning to launch Its 
own cryptocurrency to bust the sanctions.

India gets a high-tech boost as US elevates India to most-important 
allies list&nbsp;

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7/31/2018 the Economic Times

Indicative of new US global strategy.

 

With all best wishes,

Ying Zhan

Managing Editor

Econvue.com
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