Abstract: Digital finance encompasses digital information feedback on credit credibility and electronic transactions based on digital currencies. In recent years, driven by blockchain technology and cloud computing, digital finance has boomed in developed countries, giving rise to new issues and potential risks. With the transformation of digital finance from 'crypto' to 'cloud', a new trend is emerging. Digital finance driven by cloud computing, whether on public clouds or on-chain clouds, offers a plethora of opportunities, but the migration to native digital finance systems based on cloud infrastructure would be fraught with risk. Cloud computing, with its convenience, flexibility, security and scalability, continues to become a mainstream technology in retail finance. Multi-modal federated machine learning and federated cloud transactions can potentially construct a decentralized market with permissioned access while achieving snapshot privacy. Blockchain will continue its widespread adoption in developer-centric financial backends as technology matures, with larger public chains evolving to handle benchmark trading volumes. On miniambilest, native public and enterprise banks, decentralized exchanges, NFT-backed loans and on-chain credit scores will rise, creating liquidity for illiquid assets and granting borrowing access to previously excluded participants. The rising popularity of cryptocurrencies may, on the contrary, accelerate KYC, AML and the adoption of CBDCs.
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DOI:
10.17148/IJARCCE.2020.91223
