We are migrating to a world that is being transformed fundamentally from and analogue, to digital to a data-driven world. The Blockchain is the next major infrastructural layer of the internet. Blockchains are the fundamental new architecture for data, identity, and financial transactions.
This transformation encompasses all societal systems, such as traffic, healthcare, government, and supply chains. It is enabling these systems to be quantified, drive efficiency, remove opacity and complexity across a myriad of industry sectors.
In fact, a World Economic Forum survey suggested that 10% of global GDP will be stored on the Blockchain by 2027.
The blockchain is a distributed database of records or public ledger of digital events or transactions of virtual currencies. That is executed and shared across a large network of untrusted participants.
In other words, it is a continuously updated record of who holds what. The records are split into linked blocks and secured using cryptography through maths and code. Automated trust is achieved via smart contracts, that are held on a distributed ledger.
The Competition and Markets Authority decided to use Open Banking as the vehicle to drive competition in retail banking. The CMA was mandated to establish the Open Banking Working Group (OBWG) to deliver an open standard for Application Programming Interfaces in UK banking.
With the following objectives; to aid customers in controlling their data and create an environment where financial technology companies (FinTech’s) or businesses make use of bank data on behalf of customers in innovative ways.
The Open Banking industry is expected to generate £7.2bn in revenue by 2022, 71% of SME’s and 64% of retail consumers are forecasted to adopt it over the same period according to Accenture.
Open Banking in the UK and the Payment Services Directive 2 (PSD2) enacted by the European Union (EU). Are government regulations that compels banks to open their historical and current customer data to 3rd parties.
The past decade has seen a Tsunami of data produced within and outside the healthcare apparatus. Modern inquiries into determining healthcare outcomes at an individual level and across populations. Requires significant trans-disciplinary expertise to extract valuable information, and gain actionable knowledge to deliver positive healthcare outcomes.
The global nutrigenomics market size is expected to reach USD 850.86 million by 2025. Registering a CAGR of 16.48%. Obesity is the biggest segment for nutrigenomics and is projected to account for 38% of the total industry by 2025.
Nutrigenomics is the study of molecular relationships between nutritional stimuli and the response of the genes. It opens a window in our understanding of how nutrition influences metabolic pathways and homeostatic control.
The body is an ecosystem of interconnected human and non-humanparts. Humans are a majority -microbial organisms with approximately 90% of human cells and 99% of human genes originating from our microbiome rather than from the mammalian part of our body.
Lloyds, the world's leading specialist in the Insurance market. Estimated the insurance opportunity in developing countries to be between 1.5 to 3 billion policies.
In 2017 according to the insurance information institute, there was a total of 280 million people with at least one microinsurance policy or 5% of the potential market. Premiums were valued at US$2.4bn. With annual growth rates of 10% or higher in some countries.
Digital transformation, across other industries, exposed consumers, to the convenience, and ease of use of tech enabled digital products. SME’s and consumers, of retail finance products, expect the same level of immediacy and customisable products and services.