@81cheng said in P2P Financing in Asia in the new decade? #2020vision:
central depository base that can cross check if a borrower is getting funded from more than 1 P2P platform for the same purpose. As per Securities Commission, an issuer is unable to raise fund for the same purpose at more than 1 p2p platform.
If the SC already does not allow that, we won't need to cross check to ensure there is no overlap? Or there are loopholes that you know of?
but that's the thing though, SC doesn't allow that and I assume all P2P player will inform the issuer up front and they will declare as such. But it doesn't stop them from applying from 4-5 same players at the same time though. Hopefully there will be tighter changes~ some platform like microleaps and alixco actually publish the issuer names on their platform so its easy to spot them :D
@funfunding I’m still with Mintos. Getting 10% to 11% yield. Better than FS!!! The originators that die are usually the low rated ones. So just stick with the ones with good ratings. Not that they won’t die but the chances are less. If you don’t trust mintos raring then use a 3rd partly like explorep2p.
Investment Regrets: Why Fees Matter... (2)
11 Feb 2020
6.45pm to 8.45pm
iFAST Global Markets Lounge
Ocean Financial Centre
10 Collyer Quay, #18-09/10
(1) My own personal regrets in the investment/insurance: Fees
(2) Breakdown of Insurance Fees
(3) Investment Linked Products and Fees
(4) Are All Fees Bad?
(5) DIY or Finding An Advisor - Review Your Financial Plan
(6) Networking Session
Q: Are there ID or minimum age requirements to enter the event?
A: Preferably above 21, but all are welcome to understand
Q: Is my registration fee or ticket transferrable?
A: Yes. If you are unable to attend, please get someone to takeover your ticket or inform the organiser as high tea is provided.
Q: Is it ok if the name on my ticket or registration doesn't match the person who attends?
A: Yes. But re-registration is requred in the event itself.
Q: How do you reach the place?
A: You will need to contact the organiser if you are going to the place, as IFast personal is required to enter the place. If you are late, please contact the organiser https://www.facebook.com/tattian.loh and message them, or give a whatsapp to +65 9736 0964 to indicate your time of arrival and number of people.
There multiple levels of discussion here with two major ones. One is on impact on cryptos, the other is on moving away from the initial promise of cryptos. I will start with the former.
Which aspects of fiat do you foresee to be similar/different to that of national cryptocurrencies to come?
I doubt it will be quite different. I see it as an evolution of money. The pace of digitalization in society is so rapid. With the wide adoption of cashless payments etc, Digital currency should not be a very far stretch. The issuance of state-backed digital currency can become the next milestone for the central banks. In Singapore, MAS is already exploring it 3 years back. We can read about it here.
What opportunities lie in the mainstream (or first, national) adoption of national cryptocurrencies?
National cryptos does replace the need for sound financial policy.
Marshall McLuhan once wrote
"The new media and technologies by which we amplify and extend ourselves
constitute huge collective surgery carried out on the social body with complete
disregard for antiseptics"
Cryptos is the surgery we are undertaking in this case without fully understanding its consequences. We have to take to into account the theoretical benefits may not actually bring about a good change to the current system.
How widespread usage of technology is also a consideration. After all, unequal access to technology often means unequal access to the benefits of technology. Ironically, the countries with poor fiscal policies (i.e South America) where Bitcoins and the likes would benefit most are probably the one with the most unequal access.
How possible is it that cryptocurrencies would 'retreat' to the dark web?
I think crypto is here to stay in the long run. However, just like shadow banking, it will exist.
Initial decentralised promise of cryptos project are far from becoming a reality. Claims that crypto removes the need for trusted intermediaries hence democratises finance is delusional to some levels.
Most Bitcoins, Ethereum etc are traded on a 'centralised' exchange (with an intermediary i.e binance vs decentralis i.e IDEX) and through a wallet which are arguably less trustworthy than a bank (operating with a similar structure akin to banks with little experience with no regulations). Buying/Selling cryptos on exchanges are risky as they can be manipulated, frauded etc. Solution to this is the 'Holy Grail', decentralised exchanges.
According to tokeninsights, centralized exchanges still account for more than 99% of the market share. https://tokeninsight.com/report/712?lang=en
Liquidity is a major concern in decentralized exchanges. (Current structure discourages liquidity)
Most will agree that crypto facilitates crime and money laundering activities. Ironically, this is held in check by its biggest flaw: its high dependency on centralised exchanges for its liquidity.
For decentralisation to truely take place in the eyes of regulators, someone has to be subjected to AML regulation. Since, it will be purely peer to peer, the active developers may be held responsible for AML failings. And then, we are stuck in a loop.
Income and defaulted for the year or lifetime?
Some like to include tax but I don’t since it’s not a fixed amount for me.
I prefer this method to account for deposits and withdrawal.
@motan Maybe... I think property P2P firms generally get to charge lower interest rates to retail and institutions as the notes are all secured. Institutions putting in big funds would be happy paying for the security?
It's been a week since they officially went live again!
Also, we could witness new developments with its new appointment of AmBank (M) Bhd as its primary banker to support operations of its exchange -
@statscollection said in Secondary Market on Mintos:
It used to be a profitable strategy during the previous summer's high liquidity and interest rate phase.
But the times have changed, liquidity and interest rates dropped a lot.
Currently, I set my AI parameters to buy late loan (30-60 days late) at a minimum 9.5% interest rate and -0.1% discount.
I do get an occasional nibble now and then.
Similar setting as mine.
@kaeley-wn Absolutely. I find projects I believe in, I acknowledge this market has a lot of maturing to do, I allocate the funds Im comfortable allocating and I hold. I monitor for any changes that might make me question the projects but if none appear then I continue with the strategy.
@kaeley-wn Xfers is solid. Huge fan of what they are doing and their approach to the market.
I think their stable coin is a great initiative especially as they continue to support exchanges in Singapore and (eventually) elsewhere throughout the region. It'll be an easier intermediary for cross border / cross currency transactions across those exchanges.
I dont think that they have any retail focused applications for the stable coin apart from that.