new financial technologies and systems Flashcards
what is the financial system?
the relationship between those who borrow money, those who invest
money, and the institutions that hold, give out and take in this money
how does the global financial system accelerate globalisation?
it makes the world more connected
what has financial technology done to financial information and money?
more easily accessible for people across the world deepening the connections between countries
what has revolutionised global finance?
the ability to transfer money due to the internet
what are three things that have been revolutionised by the internet in terms of the transfer of money?
People can buy and sell things globally without having to meet the buyer to pay
Remittances can be sent with speed and
ease
Cryptocurrency (encrypted digital currency) has been developed, which has
created a whole new market for online currency and trading
