Fintech
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New Concepts of Digital Law: Big Data, BDCE, and FinTech
The legal regulation of the digital economy requires understanding the technological foundations driving the financial and business sectors. This analysis identifies four essential pillars for legal professionals: Big Data: Substantial volumes of heterogeneous digital data, facts, and unrestricted activities collected at high velocity. It is characterized by real-time processing through advanced analytical algorithms. Big Data Complex Ecosystem (BDCE): An IT infrastructure consisting of integrated systems for data collection, storage, and use. It unites data owners, cloud providers, and academic institutions into a unified infrastructure. Data Architecture: A component of the BDCE that defines how data is processed, stored, and integrated for organizational purposes. It serves as a conceptual model for data governance, lifecycle management, and security. FinTech and Big Personal Data: Financial Technology leverages Big Data, AI, and Distributed Ledger Technologies (DLT) for platform-based service delivery. This process generates "Big Personal Data"—personal information created or processed within these complex ecosystems.
The Intersection of Big Data and Market Competition in Georgia
In today's fast-moving digital economy, the lines between where we bank and where we shop, work, and live are becoming increasingly blurred. In Georgia, this evolution has reached a critical tipping point as the nation's two largest financial giants—TBC Group and Lion Finance Group PLC (formerly Bank of Georgia Group)—have successfully built sprawling "digital ecosystems" that touch almost every aspect of a citizen's daily life. From buying a car on MyAuto to managing a small business with Optimo, these platforms are no longer just apps; they have become the "gatekeepers" of the Georgian digital marketplace. While this integration offers undeniable convenience, it raises a profound structural question for our market: What happens when the people who hold our money also hold all of our data?