Dmitry Kaminskiy Delivers Keynote Presentation at the 2018 Association of Future Markets Conference in London
On September 12, 2018, Dmitry Kaminskiy delivered a keynote presentation at AFM 2018, one of the leading FinTech conferences for professional incumbents and leading players of the financial industry in the UK, organized by the Association of Future Markets and GMEX Group.
Kaminsky's presentation focused on a condensed version of all major insights and forecasts derived from numerous Deep Knowledge Analytics industry reports published throughout the 2018.
While his presentation touched upon a diverse array of topics including Blockchain, Artificial Intelligence, FinTech for Social Good and the Convergence of Technological Megatrends, his ultimate conclusions formed a unified overview of the synergetic assembly of the above industries capable of enabling the near-future formation of paradigm-shifting inflection point in the global financial industry driven by the integration of numerous advanced industry developments at the intersection of DeepTech and advanced IT-technologies with FinTech.
He also presented a classification framework for what he referred to as the Digital Economy 2.0, a state during which the integration of Blockchain with AI and other next-generation IT-solutions for use cases including legal technology (LegalTech), investment technology (InvestTech), regulation technology (RegTech) and e-governance technology (GovTech) will intertwine to create an entirely novel technological-financial ecosystem with penetration into the majority of societal activities, from finance and commerce to law, regulation and governance.
These developments will lead to the rise of the Augmented Economy, a state in which the full-scope of synergetic benefits of the Digital Economy 2.0 will be realized, where entirely novel outcomes and values not obvious or projectable by current standards will emerge as a natural product of the evolution of the digital ecosystem, which we can project will arrive between 2022 and 2024. This transition, marked by the digitalization and mathematization-enabled full integration and unification of FinTech, RegTech, LegalTech, GovTech and InvestTech, housed by a blockchain backend and advanced IT and AI technologies, will evolve from the Crypto Economy of today, toward the Augmented Digital Economy 2.0 of tomorrow, where non-obvious, second-order dynamics will emerge from the synergetic advancement of its constituent industries, culminating in newly-created values and profits derived from entirely novel asset classes with maximum consistency, transparency, accountability, immutability, liquidity and interoperability"
Among the most significant financial markets of the future Kaminskiy acknowledged “The world of 2 billion unbanked people globally” which is estimated to bring new economy of several trillion related to “Financial Inclusion” sector, and he especially highlighted the so-called “AgeTech Market”, related to 1 billion elderly people currently on retirement globally. The capacity of this market is estimated of at least 10 trillion and will only increase in step with the aging population. Already this market is beginning to be recognised as the biggest new opportunity for advanced IT and FinTech, with AgeTech solutions being re-tuned and repurposed to the needs of elderly consumers.
He also discussed how the UK is very well positioned to take advantage of these developing synergies due to its well-respected and world-class banking and finance sectors, combined with UK Government’s proven commitment to support the growth of innovative industries driven by technological advancements with large potentials to increase national GDP, and that the country has the potential to be the first to enable the creation of such a technological-financial ecosystem within the next few years provided that it focuses on the synergetic integration, assembly and optimization of existing assets, resources and initiatives.