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from Part I - Digital Transformation of Finance and Regulation
Published online by Cambridge University Press: 09 November 2023
This chapter examines how the digital financial infrastructure that emerged in the wake of the 2008 GFC assisted to address the financial, economic, and health challenges presented by the COVID-19 pandemic. While the 2008 Crisis was a financial crisis that impacted the real economy, COVID-19 was a health and geopolitical crisis that impacted the real economy. In fact, during COVID-19 the financial system turned from problem child to crisis manager, having provided effective tools to support the crisis response. Notwithstanding the former, digital finance has also created new forms of risk (TechRisk).
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