Congressman Mike Flood (NE-1) who represents Nebraska’s 1st Congressional District hosted his second annual Flyover Fintech conference in Lincoln. Congressman Flood serves on the House Financial Services Committee and was the author of Nebraska’s Financial Innovation Act which created a new digital asset depository charter. During his short time in Congress thus far, Congressman Flood has been a leader in promoting policies that assist in the advancement of technological innovations in finance.
Conference panels focused on cybersecurity, innovations in Nebraska, web 3.0, digital asset EFT’s, and AI & Housing.
Panel on Cybersecurity – State Senator Eliot Bostar led the expert panel discussion on cybersecurity threats, challenges, and solutions. Panelists discussed the evolution of scams and the new threat environment with the advent of AI. Dr. Vijay Balasubramaniyan of Pindrop whose company identifies and assists with “deep fakes” that intend to defraud Americans indicated that deep fakes seek to take advantage of our most vulnerable populations, by taking on the likeness of someone known to the victim.
Panel on Innovation in Nebraska – Panelists discussed several technological innovations that are occurring in Nebraska including digital asset depositories, the use of technologies including AI in lending, and technology advances that assist in job creation in industries not traditionally located in Nebraska including films. Paul Neuner, owner of Telcoin, has submitted the first application for a digital asset depository charter with the Nebraska Department of Banking and Finance. Telcoin is a custody company for digital assets, stable coins, and provider of global payments.
Panel on Web 3.0 – Panelists discussed web 3.0, the evolution of the internet from 1995 to present day, and the future of the web. Panelists indicated that Web 3.0 will create democratization and allow end users to monetize their own data rather than their personal data being monetized by the big platforms like Google, Meta, and X. They said that web 3.0 is in its infancy and that it is years away from fully developing.
Panel on Digital Asset ETF’s – Panelists discussed the regulatory environment for digital assets and cryptocurrencies. Recently the SEC approved Exchange Traded Funds (ETF) for Bitcoin and Ethereum which will bring greater access of digital assets to the financial portfolios of average Americans. They indicated that the younger generations are much more comfortable with cryptocurrencies and the current volatility of these assets.
Panel on AI & Housing – Panelists discussed how artificial intelligence (AI) is assisting in housing and home ownership. Mike de Vere of Zest AI indicated that AI has allowed financial institutions to speed up the underwriting process yet ensuring that humans make lending decisions. Mike Dendas of Zillow discussed how Zillow’s technology has assisted everyday Americans in finding and buying a home. Jonathan Lawless of Bilt Rewards, a fintech company, in-part assists renters by reporting their rent payments to credit reporting agencies so that they can build credit.
