That Time We Gave $500,000 in Bitcoin to College Kids

A thriving bitcoin community emerged at MIT after two students put together a $500,000 bitcoin distribution project.

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Malaysian central bank calls for participation on Fintech Hacks

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The Financial Technology Enabler Group (FTEG) has announced that it is seeking ideas from the public on the improvements to financial services sector by harnessing innovation and technology.

The call for participation for ideas is now open through the “Fintech Hacks” initiative which aims to identify pain points in the delivery and consumption of financial services, and solicit ideas using the application of technology to address the gaps.

The Fintech Hacks call for participation is part of the Bank Negara Malaysia’s effort to involve the public in contributing their ideas and experience to spur and inspire the development of fintech solutions that have the potential to revolutionalise the way financial services are delivered to consumers in Malaysia.

The call for participation will be open until 31 May 2017 and submissions can be made through FTEG’s website at www.myfteg.com, Facebook, Instagram and Twitter – #fintechhacks.

About Financial Technology Enabler Group (FTEG)

Established by Bank Negara Malaysia (BNM) in June 2016, the FTEG is a cross-functional committee responsible for formulating and enhancing regulatory policies to facilitate the adoption of technological innovations in the Malaysian financial services industry. Chaired by Encik Aznan Abdul Aziz, Director of the Financial Sector Development Department, it serves as BNM’s dedicated contact point for fintech related queries including on regulatory matters related to the adoption of fintech in the financial services industry.

The FTEG is part of BNM’s commitment to support innovations that will improve the quality, efficiency and accessibility of financial services in Malaysia.

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Allianz invests in Lemonade

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Lemonade, the insurance company powered by artificial intelligence and behavioral economics, today announced a strategic investment by Allianz, the world’s largest insurance company.

“Allianz is committed to staying at the cutting edge of insurance,” said Solmaz Altin, Chief Digital Officer at Allianz SE. “We follow the insurtech space closely and globally, and have seen nothing to match Lemonade in terms of technology, user experience and business model innovation. We’re thrilled to become a stakeholder in Lemonade, and will do what we can to accelerate their rapid expansion throughout the US and beyond.”

“Allianz is rightly regarded as one of the most forward thinking companies in our industry,” said Daniel Schreiber, cofounder and CEO at Lemonade. “Despite their unparalleled reach and resources, Allianz has no competitive business with Lemonade, and we look forward to deepening our relationship with them in the years to come.”

Details of the investment have not been disclosed.

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