According to Bloomberg, the prevailing vibe at the Paris fintech summit was that there’s plenty of action in banking, lending and payments without messing around with crypto
That was a big takeaway this week from the Paris Fintech Forum, one of the biggest annual gatherings of its kind in Europe. On Tuesday and Wednesday, about 3,000 entrepreneurs, investors, bankers, and regulators descended on the neo-classical Palais Brongniart, once home to the stock exchange. Last year, with Bitcoin and its imitators soaring, attendees jammed discussions on blockchain technology. "I nearly lost my whole team to cryptocurrencies," said Will Andrich, the CEO of Switzerland’s Thaler.One, which says it creates real estate-backed digital securities. #lazy-img-334340382:before{padding-top:66.55%;} Paris Fintech Forum in the old stock exchange. Source: Paris Fintech Forum No such problem this year. With the top 10 crypto assets down 80 percent in the last 12 months and skepticism mounting, many fintech pros concluded that the technology may not be ready for prime time, especially in an industry this heavily regulated.
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