https://medium.com/media/64e1d2f2d0ab76c38a66157e87ffd3e4/hrefIn our latest episode of the Wharton FinTech podcast, I had the pleasure of speaking with Shan Aggarwal, VP of Corporate Development and Business Development at Coinbase and the Head of Coinbase Ventures. Shan’s journey from neuroscience to the crypto industry is as unconventional as it is inspiring. Since joining Coinbase in 2018, Shan has played a crucial role in expanding Coinbase Ventures’ portfolio to over 450 companies, including notable names like Uniswap, Zora, and Consensys.We delved into Shan’s unique path, starting with his early aspirations in the medical field, his pivot to management consulting, and eventually, his leap into the exciting world of crypto investing. Shan shared his lightbulb moment upon reading the Ethereum white paper in 2017, which sparked his interest in the potential of blockchain technology as a global application platform.“The Ethereum white paper was my light bulb moment. It showed me the potential of crypto as a global financial system where individuals could retain ownership of their data and assets.”Our conversation covered the evolution of the crypto ecosystem over the past few years, highlighting how Coinbase Ventures has adapted its investment strategy to support innovation. Shan emphasised the importance of improving user experience to drive mainstream crypto adoption, discussing the advancements in smart wallets and seamless on-chain interactions that are making crypto more accessible.We also explored the long-term potential of decentralised finance (DeFi) and on-chain social media platforms. Shan’s enthusiasm for projects like Zora, an on-chain Instagram or TikTok, illustrates how Web3 is reorganising the internet around data ownership and user value creation. Additionally, we discussed how stablecoins are revolutionising cross-border payments, providing efficient, low-cost solutions for global transactions.Shan’s insights into the cyclical nature of the crypto market were particularly enlightening. He explained how the builder energy remains strong during bear markets, leading to the creation of foundational companies that drive the industry’s growth. This resilience, coupled with the increasing standardisation of crypto investment terms, signals a maturing ecosystem poised for significant advancements.In closing, Shan’s perspective on the future of crypto is optimistic. As the industry grows and more experienced builders emerge, the potential for groundbreaking innovations continues to expand. This episode is a must-listen for anyone interested in the future of crypto and fintech.Listen to the full episode on Soundcloud, Spotify or Apple Podcasts.[Podcast] From Neuroscience to Crypto: Shan Aggarwal’s Journey and Insights from Coinbase Ventures was originally published in Wharton FinTech on Medium, where people are continuing the conversation by highlighting and responding to this story.

Booking.com’s Daniel Marovitz joins host Djavaneh Bierwirth on the Wharton Fintech Podcast[Podcast] Enhancing the Travel Experience Through Fintech Innovation with Daniel Marovitz of Booking.comhttps://medium.com/media/bf3e00a962d4756a71616ab0ab9e14ab/hrefIn the latest episode of the Wharton FinTech Podcast, I had the pleasure of speaking with Daniel Marovitz, Senior Vice President of Fintech at Booking.com. Daniel’s journey is as fascinating as it is unconventional. From majoring in East Asian Studies to leading fintech innovation at one of the world’s largest travel e-commerce companies, his career path is a testament to the power of continuous learning and adaptability.Daniel shared insights into the unique challenges and opportunities presented by global e-commerce and travel. One of the most pressing issues he addressed is the complexity of cross-border payments. As the world becomes increasingly interconnected, the demand for seamless, secure, and efficient payment solutions grows. Booking.com is at the forefront of this evolution, employing innovative fintech solutions to enhance the travel experience for millions of users.A standout point in our conversation was the expansion of the “Pay by Booking” feature, which now supports over 50% of all transactions on the platform. This feature not only simplifies payments for travellers but also protects hotels from fraud and chargebacks, creating a more secure and reliable ecosystem for all parties involved.Another fascinating topic was the rise of alternative payment methods (APMs) and their impact on the travel industry. Daniel explained how Booking.com integrates local payment methods like Alipay, WeChat Pay, and iDEAL, ensuring a seamless payment experience for users worldwide. This approach highlights the company’s commitment to accommodating diverse payment preferences and making travel accessible to everyone.“The connected trip concept is brought to life by fintech, making travel experiences seamless, secure, and enjoyable.”Daniel also touched on the strategic decisions involved in choosing between building in-house solutions and partnering with external providers. For Booking.com, the focus is on being fabulous integrators, leveraging the best available technologies while maintaining the flexibility to adapt to new innovations.As we look to the future, Daniel’s vision for Booking.com includes deeper integration of fintech solutions to create a truly connected trip experience. By incorporating fintech at every stage of the travel journey, from booking to payment and beyond, Booking.com aims to make travel not only easier but also more enjoyable and stress-free.For aspiring fintech entrepreneurs, Daniel’s advice is to start with a clear, niche problem that isn’t well-covered and build from there. The fintech landscape is vast and full of opportunities for those willing to innovate and solve real-world challenges.Tune in to the full episode to hear more about Daniel Marovitz’s journey and the exciting developments at Booking.com. Listen now on Spotify or Apple Podcasts.[Podcast] Enhancing the Travel Experience Through Fintech Innovation with Daniel Marovitz of… was originally published in Wharton FinTech on Medium, where people are continuing the conversation by highlighting and responding to this story.

From the Roman Empire’s early experiments with sales tax to today’s digital marketplace challenges, understanding sales tax is crucial for modern businesses with compliance operations across diverse jurisdictions. This article explores how historical developments and technological innovations have shaped the current sales tax landscape, highlighting key legal rulings and the rise of software solutions that simplify compliance.The history of sales tax in the USAIn the 1930s, a new concept was introduced in the United States to help states generate income, a common retail sales tax. This tax applied only to the final product, excluding the materials used for manufacturing. Various states then introduced their own sales taxes, leading to a complex landscape for businesses operating across different states and countries.The Evolving Complexities of the Sales Tax LandscapeIn a landmark 1992 case, “Quill Corp. vs. North Dakota,” the Supreme Court held that Quill’s mail-order sales did not create a sales tax nexus in North Dakota due to the company’s lack of physical presence in the state. This ruling set the precedent for sales tax compliance for decades.However, the dynamics of sales tax dramatically shifted in 2018 with the “South Dakota v. Wayfair” decision. This pivotal ruling overturned the “Quill” decision, establishing that physical presence was no longer a requisite for sales tax obligations. The introduction of the economic nexus concept meant that businesses could be liable for sales tax in a state, regardless of physical presence, fundamentally changing how companies engage with interstate commerce and manage their sales tax compliance.In the years leading up to this change, states were already moving towards accommodating the digital economy. For instance, in 2008, New York redefined “vendor” under its tax laws to include internet retailers, thus requiring them to collect sales taxes, paving the way for broader changes. By 2022, 33 states and the District of Columbia had embraced the Streamlined Sales and Use Tax Agreement, simplifying tax compliance for businesses operating across multiple states and setting the stage for the economic nexus laws that followed.The Rise of Sales Tax Software IndustryDespite sales tax compliance appearing straightforward — where jurisdictions specify tax rates, businesses collect from customers, and remit it — the reality is notoriously complex. As businesses grow and diversify their product offerings, tracking the applicable sales tax becomes increasingly complicated, especially with over 9,000 state and local tax jurisdictions in the U.S.The emergence of eCommerce and Software as a Service (SaaS) has expanded the challenge, as businesses now operate in a virtually borderless marketplace, necessitating compliance across numerous jurisdictions. This complexity has catalyzed the development of sales tax software, a sector that began with simple spreadsheets and evolved dramatically with technological advancements.From the rudimentary accounting software introduced by Peachtree Software in 1978 to Symmetry Software’s pioneering tax compliance systems in 1984, the industry has grown significantly. Early programs were rigid and basic, but necessary during a less complex tax era. As digital capabilities evolved, so did the flexibility of these tools, enabling customized tax management processes that accommodated the unique needs of businesses.A New Era of Tax ComplianceThe advent of SaaS platforms marked a significant shift. Modern sales tax tools offer unprecedented flexibility, allowing companies to integrate seamless and automated tax calculations into their existing workflows without conforming to the constraints of traditional software.Key innovations such as automated calculation of sales tax nexus and applicable rates have transformed compliance into a streamlined, traceable, and straightforward process, regardless of the number of states a business operates in. This automation is crucial for eCommerce and SaaS businesses that face complex multi-state tax liabilities.Reflecting this technological and regulatory evolution, the sales tax software market has seen robust growth. Valued at $7.1 billion post-pandemic in 2021, it’s projected to double by 2030, underscoring the critical role of these tools in modern business operations.https://www.custommarketinsights.com/report/sales-tax-software-market/Simplicity in the ComplexityThroughout the rapid development of sales tax regulations and tools, the quest for simplicity remains paramount. The next generation of tax-software companies are offering solutions that not only navigate the intricate web of economic nexus laws and marketplace facilitator regulations but also simplify the entire tax compliance process. With tools that automatically handle calculations, collections, remittances, and documentation, these companies ensure businesses can effortlessly manage their obligations across thousands of jurisdictions.The narrative of sales tax may be as ancient as commerce itself, but its management has become quite simple with the introduction of these software companies. With innovations in sales tax software, businesses can now tackle this complex obligation with ease, making what once seemed an insurmountable challenge a manageable aspect of their operations.If you’re seeking to streamline and simplify your sales tax compliance journey, consider exploring what Complyt has to offer.The History of US Sales Tax: Simplifying the Complex was originally published in Wharton FinTech on Medium, where people are continuing the conversation by highlighting and responding to this story.