![]() However, the idea of democratisation can be used as a populist tool in a broad-brush manner “selling” the technology. My argument is based on the observation that democratic societies and systems prosper in the long-term (classic examples: US vs USSR, newspapers vs Internet). Of course, you can argue about what ‘universal’ means and that there are always those disagreeing with the commonly-accepted values. Democratisation is a universal value in our/Western society.Although there have been cases of fraud, arising from the ‘unsophistication’ of the crowd, on crowdfunding platforms, fraud is committed in real life too. Economically speaking, it provides a service to a larger customer-base and enables those in the outskirts of the financial system to enjoy its benefits.I believe that democratisation of finance is generally a good idea: mobile payments, alternative exchanges, cheaper international transfers). payday loans, peer-to-peer lending, microfinance, crowdfunding) and making transactions (e.g. Examples of other fintech technologies are: new ways to borrow and lending through non-banking institutions (e.g. company) is going to perform better than the others. In a way, betting for horses is a lot like investing in companies: it comes down to skill in picking which horse (i.e.
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