How the fundamental functions of finance work are changing and fintech is not just a driver of that change, but also the future of solutions, said Nobel Laureate and co-originator of the Black-Scholes-Merton options pricing model, Myron Scholes, at an event inaugurating the Gershon FinTech Center at Hebrew University in Jerusalem.
The functions of finance – transacting, saving, pricing, and “marrying teams with capital” – are provided by institutions. But functions are static, while institutions are dynamic and are, at the current moment, “disintegrating”, he said.
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