At Essentials, we bring you the top articles curated by financial experts themselves. We supply you with trend forecasts and valuable insights from trusted economists, financial analysts, and cryptocurrency- and banking industry insiders. This week, we feature three of our top picks from the April Future of Money Monthly Report, from green bitcoin mining solutions to China’s move from copycat status to a global innovation leader.

China’s economic edge: from global copycat to innovation leader

Long regarded as a notorious ‘imitation station,’ producing knock-offs of occidental designs at speed, times are a-changing in Asia’s powerhouse. The Chinese have an economic edge that’s been overlooked: their ability to adapt and adopt – also at speed. And it’s putting them ahead of the game after years of lagging in the innovation space.

China’s one-child policy has affected its economic future

A shrinking population is thought to be the main impetus behind China’s large-scale economic paradigm shift. According to its National Bureau of Statistics, China will have over 80 million fewer working-age people in 2030 than in 2015. That frightening forecast expects a further decline of another 7.6 million people every year from 2030.

This means in coming decades there will be far fewer workhorse-minimum-wage earners for assembly lines and packhouses to crank out cheap fakes. It’s time for China to move more permanently from imitation to innovation.

Overlooked key to China’s innovation growth? Hyper adaptability

Throughout its economic history, China has tended to take a stealth approach. When it comes to innovation, things don’t seem very different. Ironically, it isn’t actual innovators its breeding, but rather a population that’s particularly adept at adapting to technological change. Its consumers are both hyper-adoptive (early adopters) and hyper-adaptive. And there are millions of tech-savvy Chinese who are willing and able to try new things, all the time. The result? Massive economic growth.

Keeping China a leading contender in the so-called “Cold Tech War,” and giving the US some solid competition for top dog status.

Read the original article here.

Bitcoin mined from only renewable energy sources?

Booming British blockchain tech concern, Argo Blockchain PLC, is developing a reputation for focusing on large-scale cryptocurrency mining that is also environmentally friendly and sustainable. Its newest venture will be run exclusively on renewable energy sources.

Introducing Terra Pool: a green bitcoin solution

Argo recently partnered with Canada’s DMG Blockchain to create the first-ever bitcoin mining pool that only uses clean, mostly hydroelectric, energy. This will allow blocks to be mined and processed 100% sustainably. Dubbed ‘Terra Pool” this green resource for bitcoin mining is an exciting progression in cryptocurrency technology.

Texas welcomes major Bitcoin investment

Argo also recently invested in a large facility in Western Texas to set up a large-scale bitcoin mining operation in the Lone Star State. The innovative cryptocurrency mining company bought a 320-acre plot with access to 800 megawatts of electrical power. Here it plans to build a brand new 200-megawatt cryptocurrency mining facility over the course of the next year.

A green Bitcoin venture to watch

Argo is currently celebrating record first-quarter revenues in 2021. Its recipe for Earth-friendly economic success is clearly paying dividends.

Read the original article here.

Embedded Fintech may save traditional banking

Embedded finance is a trending buzzword in the financial services sector. In basic terms, it refers to non-financial services providers (like a retailer, for example) providing financial services, like money lending or insurance, to consumers. And it’s stealing massive market share from traditional banks.

Traditional banking sector must adapt or die

The best, and perhaps only route for the traditional banking sector to take in order to retain its share of the market is not to beat them, but to join them.

Banks need to actively explore embedded finance partnerships. This may be problematic for smaller banks though, as large retailers tend to prefer hanging with the big players. Their solution? Looking at embedded fintech instead.

Making bank through embedded fintech

Unlike embedded finance, embedded fintech looks at developing more innovative and integrated applications for financial services. It’s about apps and tech innovations that help financial institutions better integrate money management services into their existing structures. Examples of embedded fintech include efficient, tech-driven “bill negotiation services, subscription management, data breach, and identity protection, wealth transfer management, and cryptocurrency investing.”

Mobile banking and beyond

The jury is out on whether traditional banks will weather the storm or end up making themselves largely obsolete. What we do know is that digital banking transformation is the only way forward, with mobile banking leading the pack.

Read the original article here.

Which article from the April monthly report was your favorite? Let us know in the comments below, we would love to hear from you!

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