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Digital Finances Business, Management & Finance Program Spring 2025 Semester - Madrid

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Digital Finances

Digital Finances Course Overview


CEA CAPA Partner Institution: Universidad Carlos III de Madrid
Location: Madrid, Spain
Primary Subject Area: Finance
Instruction in: English
Course Code: 14008
Transcript Source: Partner Institution
Course Details: Level 300, 400
Recommended Semester Credits: 3
Contact Hours: 42
Prerequisites: Financial Economics, Financial Systems and Institutions and Economics of Banking.


1. Introduction to fin-tech.
2. Crowdfunding.
2.1. The role of finance in the economy.
2.2. The role of financial intermediaries
2.3. Types and functioning of crowdfunding markets.
2.4. Differences between traditional funding models and crowdfunding markets.
2.5. Informational problems in the crowdfunding model.
2.6. The regulatory response: the JOBS act and other regulations.
3. Digitalization of the payment system.
3.1. The historical evolution of the payment system.
3.2. Attributes of a well-functioning payment system.
3.3. Banks as guarantors of the payment system.
3.4. New entrants and new payment models: risks for the banking system.
3.5 Security and taxation issues in new payment systems.
3.6 The regulatory response: PSD2 (Second Payment Services Directive) and the SEPA (Single European Payment Area)
4. Bitcoin and blockchains.
4.1. Introduction: the economic function of currency in the economy.
4.2 Problems with issuer¿s credibility.
4.3. Analysis of bitcoin as currency.
4.4. The blockchain as a registration mechanism.
4.5. The integration of bitcoin and blockchain and issuer¿s incentive problems.
4.6 Possible alternative uses of blockchain technology in the economy and difficulties in its implementation.
4.7. Use of bitcoin in money laundering.
4.8. The regulatory debate.
5 FinTech, big data analytics and new financial business models.
5.1. The use of data in traditional credit decisions.
5.2. The combination of big data and machine learning to improve financing decisions.
5.3. Smart accounts, customized financial products, risk management and fraud prevention.
5.4. High frequency trading: opportunities and risks.
6. Digital security.
6.1. The challenge of ensuring confidentiality.
6.2. The challenge of ensuring integrity.
6.3. The challenge of ensuring availability.
6.4. Digital securities as a new systemic risk in the economy.
6.5. Regulations on cybersecurity.

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