From UDaily: Disruptive technolgy and fintech

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Imagine a world where NFTs are more than an overpriced novelty and the TikTok filters that allow artificial intelligence to generate artsy and colorful backgrounds symbolizing someone’s name or birthday are actually key components of future online markets. It might sound hard to believe, but back in the 1990s, an online world of commerce seemed out of reach, too.

Exploring the future potential of high-tech applications is at the heart of a journal article co-authored by the University of Delaware’s Alfred Lerner College of Business and Economics Dean Bruce Weber and Associate Professor Andy Novocin with the College of Engineering’s Department of Electrical and Computer Engineering.

The article was recently published in the Journal of Portfolio Management (JPM). The article explores what the future of “disruptive tech” may mean for all corners of business and industry, particularly in the financial realm. This is an example of the interdisciplinary research happening at UD in Fintech on new technology.

NFT stands for non-fungible token and is a cryptographic asset with a unique identification code and metadata that distinguish it from other such assets. The NFT sits on a blockchain, which is a distributed database or ledger that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. The goal of blockchain is to allow digital information to be recorded and distributed, but not edited.

Some key findings of the research included the idea that technologies like blockchain and other web 3.0 developments will disrupt current exchanges and market service providers. Some functions in the financial markets could be replicated in decentralized finance applications and enable users to exchange currency and assets without exchange banks or government involvement.

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