You are a member of the University's Research Team and you are required to report on the development of financial technology and its applications to financial markets in South East Asia. You are also required to analyse the potential benefits and risks of financial technology to the banking and finance industry. Although you are free to choose any markets (e.g. stock market, bond market, foreign exchange market, commodity market) in any country in South East Asia, please keep in mind that your manager prefers an in-depth report for a single market to a general report for many markets.

Main points that must be included in the report:

• How do financial markets work?
• How FinTech has developed over the years and what are the main drivers?
• To which degree FinTech and blockchain has been applied to the financial markets in the country that you are working on?
• What are the potential benefits and risks when FinTech and blockchain are applied to the banking and finance industry?