{"id":3465,"date":"2023-05-02T00:21:47","date_gmt":"2023-05-02T00:21:47","guid":{"rendered":"https:\/\/www.godefy.com\/pluralistic-when-you-hear-fintech-think-unlicensed-bank-01-may-2023"},"modified":"2023-05-02T00:21:47","modified_gmt":"2023-05-02T00:21:47","slug":"pluralistic-when-you-hear-fintech-think-unlicensed-bank-01-may-2023","status":"publish","type":"post","link":"https:\/\/www.godefy.com\/pluralistic-when-you-hear-fintech-think-unlicensed-bank-01-may-2023\/","title":{"rendered":"Pluralistic: When you hear "fintech," think "unlicensed bank" (01 May 2023)"},"content":{"rendered":"

Today’s links When you hear “fintech,” think “unlicensed bank”: “…with a computer.” Hey look at this: Delights to delectate. This day in history: 2003, 2008, 2013, 2018, 2022 Colophon: Recent publications, upcoming\/recent appearances, current writing projects, current reading When you hear “fintech,” think “unlicensed bank” (permalink) In theory, patents are for novel, useful inventions that aren’t obvious “to a skilled practitioner of the art.” But as computers ate our society, grifters began to receive patents for “doing something we’ve done for centuries…with a computer.” “With a computer”: those three words had the power to cloud patent examiners’ minds. Patent trolls – who secure “with a computer” patents and then extract ransoms from people doing normal things on threat of a lawsuit – are an underappreciated form of “tech exceptionalism.” Normally, “tech exceptionalism” refers to bros who wave away things like privacy invasions by arguing that “with a computer” makes it all different. These tech exceptionalists are the legit face of tech exceptionalism, the Forbes 30 Under 30 set. They’re grifters, but they’re celebrated grifters. There’s a whole bottom-feeding sludge of tech exceptionalists that don’t get the same kind of attention, like patent trolls. Oh, and the fintech industry. As Riley Quinn says, “when you hear ‘fintech,’ think: ‘unlicensed bank.'” The majority of fintech “innovation” consists of adding “with a computer” to highly regulated activities and declaring them to be unregulated (and, in the case of crypto, unregulatable). There are a lot of heavily regulated financial activities, like dealing in securities…Pluralistic: When you hear "fintech," think "unlicensed bank" (01 May 2023)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Today’s links When you hear “fintech,” think “unlicensed bank”: “…with a computer.” Hey look at this: Delights to delectate. This day in history: 2003, 2008, 2013, 2018, 2022 Colophon: Recent… <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2169,2170,926,739,696,300,1853,141,811,12,467,295,67,507],"_links":{"self":[{"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/posts\/3465"}],"collection":[{"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/comments?post=3465"}],"version-history":[{"count":0,"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/posts\/3465\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/media?parent=3465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/categories?post=3465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/tags?post=3465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}