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April 22, 2022

Twitter tweets: Coinbase Wallet support for Solana and more

Retail Banker International lists five of the most popular tweets on fintech in Q1 2022 based on data from GlobalData’s Banking and Payments Influencer Platform.

The top tweets are based on total engagements (likes and retweets) received on tweets from more than 150 fintech experts tracked by GlobalData’s Banking and Payments Influencer platform during the first quarter (Q1) of 2022.

The most popular tweets on fintech in Q1 2022: Top five

1. Brian Armstrong’s tweet on Coinbase Wallet extending support for Solana

Brian Armstrong, CEO of cryptocurrency trading platform Coinbase, shared an article on Coinbase Wallet extending support for the Solana blockchain network by enabling the sending, receiving, and storing of Solana (SOL) and Solana tokens (SPL). The wallet also supports multiple crypto networks such as Ethereum, Avalanche, Polygon, and BNB Chain, which allows users to tap into Web3 without the need to manage many wallets, the article detailed.

Web3 and decentralised applications such as non-fungible tokens (NFTs) have gained prominence in the past year with a surge in usage of blockchain networks including Solana, which is regarded as one of the fastest growing blockchains. Solana now has more than $7.35bn in total locked value (TLV) and has introduced more than 1,400 projects, including decentralised finance (DeFi), NFTs, and Web3. Coinbase Wallet is looking to further integrate with the Solana ecosystem, thereby allowing users to connect with Solana’s decentralised applications (dapps) and manage their Solana NFTs from their Coinbase Wallet.

Username: Brian Armstrong

Twitter handle: @brian_armstrong

Likes: 512

Retweets: 83

2. Antonio Grasso’s tweet on advancing agriculture with sustainable tokenomics

Antonio Grasso, founder and CEO of the consulting firm Digital Business Innovation Srl, shared an article on digital and financial inclusion for small farmers through blockchain technology. The article detailed how the AgriUT Foundation, a non-profit working on social and environment impact projects, employs a decentralised and interconnected method to provide economic support to remote communities. The AgUnity technology platform, for instance, allows small farmers to connect with agricultural suppliers, buyers, and financial service providers. The platform is bridging the gap between international markets and small farmers through last mile technology solutions such as smartphone technology that support the entire AgriUT ecosystem, the article detailed.

An infographic shared by Grasso further illustrated that technologies are bolstering farming communities around the world by giving them access to digital platforms, thereby increasing their income and livelihood. Better access to technologies also allows small farmers to gain valuable information to improve their yields, increases their access to financial and insurance services, reduces the risk of holding cash, and provides a way forward for digital and financial inclusion, according to the infographic.

Username: Antonio Grasso

Twitter handle: @antgrasso

Likes: 148

Retweets: 101

3. Simon Taylor’s tweet on DeFi likely to become the infrastructure of the digital economy

Simon Taylor, co-founder and chief product officer at 11:FS, a challenger consultancy firm offering next generation digital solutions, shared his article on 2022 being the best year for fintech innovations and how DeFi is likely to become the infrastructure of the digital economy. Taylor added that one trend that emerged from the fintech 2022 predictions was that fintech and DeFi were colliding and that it was important to understand the problems that DeFi can solve for consumers, the economy and businesses.

Taylor highlighted that a DeFi protocol rarely holds funds similar to banks and the protocol is about setting the price while individuals together form the liquidity pools. DeFi, in principle, performs peer-to-peer lending at extremely low costs as it has almost zero fixed costs. Experts claim that Fintech 3.0 maybe shifting from centralised to decentralised, but Taylor believes crypto, DeFi, and Web3 will become the infrastructure of finance.

Taylor opines that both DeFi and crypto are not perfect for many reasons including the presence of countless scams and the speculative and circular nature of the technologies. Fintech and DeFi, however, have opportunities to grow in the lending space. Taylor believes that DeFi will excel in real-world lending activity, particularly in cross-border payments, which is evident from the trend of several projects being focused on real world assets (RWAs) rather than just crypto.

Username: Simon Taylor

Twitter handle: @sytaylor

Likes: 118

Retweets: 26

4. Chris Gledhill’s tweet on HSBC exploring sports engagement on The Sandbox metaverse

Chris Gledhill, an independent fintech advisor, shared an article on the investment banking and financial services firm HSBC partnering with virtual gaming platform The Sandbox, to acquire a piece of land and virtual real estate on The Sandbox metaverse. HSBC is the first to enter The Sandbox, and is likely to take sports engagement to new levels as virtual communities worldwide get the opportunity to engage with sports and financial services providers on The Sandbox metaverse.

The piece of land acquired by HSBC will be used to interact with sports, esports, and gaming enthusiasts, under the terms of the partnership agreement. The partnership paves the way for global institutions to continue inventing in Web3, as the global metaverse market is expected to grow from $45.4bn in 2019 to $1.5tn in 2030. Consumer adoption of Web3 requires the development of more engaging experiences in the metaverse through decentralised and gaming offerings, the article highlighted.

Username: Chris Gledhill

Twitter handle: @cgledhill

Likes: 117

Retweets: 46

5. Dr Sally Eaves’ tweet on the impact of artificial intelligence (AI) on financial services

Dr Sally Eaves, democracy and security advisor at the Center for a New American Security (CNAS), a non-profit think tank building national security and defence policies, shared an article on how AI is transforming the banking sector. The article detailed that digital transformation through AI and machine learning (ML) deployments in the financial services industry can help in delivering better cybersecurity, provide personalised customer experiences and streamline omnichannel activities in a cost-effective and efficient way.

AI can create personalised customer experiences through customer data and analytics or algorithms by matching consumer behaviours with the desired products and services. The Artificial Narrow Intelligence (ANI)-driven chatbot, for example, can complete a single task more efficiently in banking-related services. It can help a customer who may be asking routine questions about their account, the article noted.

AI can identify network vulnerabilities in banking and can mitigate risks posed by deepfakes. A rapidly evolving trend includes the superimposition of AI on a customer’s physical attributes, voice, mannerisms, videos, or datasets, which poses serious threats to authentication, the article detailed. AI can also be deployed to alleviate the same risks posed by deepfakes through the development of efficient algorithms.

Username: Dr Sally Eaves

Twitter handle: @sallyeaves

Likes: 107

Retweets: 57

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