What Is Fintech And Why Is It Important?

Fintech means “finance” and “technology” and refers to any company that uses technology to improve or automate financial services and processes. The term encompasses a rapidly growing industry that serves the interests of both consumers and businesses in a variety of ways. From mobile banking and insurance to cryptocurrencies and investment apps, fintech has a seemingly endless array of applications. The industry is huge – and will continue to expand in the coming years.

One driving factor is that many traditional banks are supporting and adopting technology. They are actively investing in, acquiring or partnering with fintech startups because it’s easier to give digitally oriented customers what they want while advancing the industry and staying relevant.

What is a fintech company? Fintech companies integrate technologies (such as AI, blockchain, and data science) into traditional financial sectors to make them safer, faster, and more efficient. Fintech is one of the fastest-growing technology sectors, with companies innovating in nearly every area of finance, from payments and lending to credit scoring and stock trading.

How does fintech work? Fintech is not a new industry, but one that has evolved very quickly. Technology has always been part of the financial world to some degree, whether it’s the introduction of credit cards in the 1950s or ATMs, electronic trading systems, personal finance apps and high-frequency trading in the decades that followed. What lies behind financial technology varies from project to project, application to application. However, some of the latest developments use machine learning algorithms, blockchain and data science to enable everything from credit risk processing to hedge fund management. In fact, there is now an entire subset of regulatory technologies called “regtech” that aim to navigate the complex world of compliance and regulatory issues of industries like, you guessed it, fintech.

As the fintech industry has grown, so have cybersecurity concerns in the fintech industry. The massive growth of fintech companies and marketplaces on a global scale has made vulnerabilities in fintech infrastructure increasingly apparent, while also making them a target for cybercriminal attacks. Fortunately, technology is constantly evolving to minimize existing fraud risks and mitigate new threats that continue to emerge.

Fintech Examples and Applications. Although the industry conjures up images of startups and industry-changing technologies, traditional companies and banks are also steadily adopting fintech services for their own purposes. Here is a quick look at how the industry is both transforming and improving some areas of finance. Banking Mobile banking is an important part of the fintech industry. In the world of personal finance, consumers have increasingly demanded easy digital access to their bank accounts, especially from a mobile device.

Most major banks now offer some type of mobile banking capability, especially with the rise of digital-first banks or “neobanks.” Neobanks are essentially banks without physical branches that offer checking, savings, payments and lending services to their customers on a fully mobile and digital infrastructure. Some examples of neobanks include Chime, Simple, and Varo. Cryptocurrencies and Blockchain In parallel with fintechs, cryptocurrencies and blockchain have emerged.

Blockchain is the technology that enables the mining of cryptocurrencies and the existence of marketplaces, while advances in cryptocurrency technology are due to both blockchain and fintech. Even though blockchain and cryptocurrency are unique technologies that fall outside the realm of financial technology, both are necessary in theory to create practical applications that advance financial technology. Some key blockchain companies you sh ould know about are Gemini, Spring Labs, and Circle, while examples of companies that specialize in cryptocurrencies include Coinbase and SALT. Investment & Savings Fintech has led to an explosion in the number of investment and savings apps in recent years. More than ever, the barriers to investing are being broken down by companies like Robinhood, Stash, and Acorns. While these apps differ in their approach, they all use a combination of savings and automated small-dollar investment methods, such as instant round-up of deposits on purchases, to introduce consumers to the markets.

Machine Learning and Trading. The ability to predict how markets will perform is the Holy Grail of the financial world. With billions of dollars at stake, it’s no surprise that machine learning is playing an increasingly important role in financial technology. The power of this AI subfield lies in its ability to run massive amounts of data through algorithms designed to identify trends and risks, giving consumers, businesses, banks and more organizations a more informed understanding of investment and purchase risks at an earlier stage.

Payments. Moving money around is something fintech is very good at. The phrase “I’ll Venmo you” is now a replacement for “I’ll pay you later.” Venmo, of course, is the most popular platform for mobile payments. Payment service providers have changed the way we all do business. It’s easier than ever to send money digitally around the world. In addition to Venmo, popular payment service providers include Zelle, Paypal, Stripe and Square. Fintechs are also overhauling lending by simplifying risk assessment, speeding up approval processes and making credit more accessible. Billions of people around the world can now apply for credit through their mobile devices, and new data points and risk modeling capabilities are extending credit to underserved populations. In addition, consumers can request credit reports multiple times a year without dropping their score, making the entire credit world more transparent for everyone.

Notable credit companies include Tala, Petal, and Credit Karma. Insurance Although insurtech is quickly becoming its own industry, it still falls under the fintech umbrella. Many fintech startups are partnering with traditional insurance companies to automate processes and expand coverage. From mobile car insurance to wearables for health insurance, the industry is on the verge of a plethora of innovations. Some insurtech companies to keep an eye on include Oscar Health, Root Insurance and PolicyGenius. Fintech Trends for 2021Fintech is an emerging industry with seemingly endless opportunities to improve our financial systems.

Some fintech trends we will see are: The rise of robo-advisors in stock trading, the use of blockchain in anti-money laundering, the introduction of alternative credit reporting, and the decentralization of global payments.

Friends, Thanks For Your Support. I highly recommend you to read the book below to boost your knowledge and understanding of Fintech. You can click on the “Buy On Amazon” or click “Free Preview” to read part of this book.

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Anthony Aries

Blockchain For Business – Practical Business Applications

Blockchain For Business – Practical Business Applications

Applications of Blockchain for Business In all industries around the world, blockchain is helping to transform business. Greater trust leads to greater efficiency by eliminating duplication of effort. Blockchain is revolutionizing the supply chain, food distribution, financial services, government, retail and more. Blockchain Ensures Safer Food We all eat – and we have all doubted the safety or freshness of food at one time or another. What if we could replace those doubts with insights into every step from farm to fork? Many companies are now doing just that by sharing and leveraging data from IBM Food Trustâ„¢, powered by the IBM blockchain platform. Discover how growers, processors, wholesalers and retailers are making food safer, extending shelf life, reducing waste and providing better access to shared, secure information that affects us all. IBM Food Trust Blockchain tracks every step of shipping Think about everything you used today. How did it get here? Today’s supply chain is a complex network of relationships, planning, systems and data. Even the smallest error can cause delays that have huge ripple effects. By digitizing and automating paperwork across the supply chain, IBM Blockchain helps shippers, ports, customs, logistics providers, banks, insurers and others better manage documents across companies and borders – all in real time and with absolute precision. Learn more at IBM Blockchain for the Supply Chain Blockchain builds trust everywhere Whether between people or organizations, relationships thrive when there is more trust. From jewelry to insurance to food, IBM Blockchain can take that trust to a whole new level by helping parties transacting with each other validate and share immutable transaction records in a private, distributed ledger. This shared record of truth leads to less paperwork and fewer disputes, happier customers, and entirely new ways of doing business.

Related Solutions. Blockchain Platform The award-winning IBM Blockchain Platform offers the most comprehensive suite of blockchain software, services, tools, and sample code available for Hyperledger Fabric. It provides everything you need to create, test, control, and manage a working blockchain network in a variety of cloud environments. Learn more about IBM Blockchain Platform Blockchain Consulting We have over 500 client engagements and more than 1,600 technical and industry experts. Find out why IBM Blockchain Services is the leading provider of services for your blockchain journey. Blockchain Consulting Blockchain for Food Supply IBM Food Trust is the only network of its kind that connects participants across the food supply through an approved, permanent, and shared record of food system data. You can increase food safety, create new efficiencies and contribute to your bottom line. IBM Food Trust TradeLens helps monitor global container logistics. More than 150 exporters, importers, freight forwarders and customs authorities around the world now collaborate on an open and neutral supply chain platform. Learn more about container logistics solutions

Blockchain Platform The award-winning IBM blockchain platform offers the most comprehensive set of blockchain software, services, tools and sample code available for Hyperledger Fabric. It provides everything you need to create, test, control, and manage a working blockchain network in a variety of cloud environments. Learn more about IBM Blockchain Platform Blockchain Consulting We have over 500 client engagements and more than 1,600 technical and industry experts. Find out why IBM Blockchain Services is the leading provider of services for your blockchain journey. Learn more about Blockchain Consulting Blockchain for Food Supply IBM Food Trust is the only network of its kind that connects participants across the food supply through an approved, permanent, and shared record of food system data. You can increase food safety, create new efficiencies and contribute to your bottom line.

Dear Friends, I hope you find this sharing helpful to you. To know more in-depth, practical and powerful knowledge on Blockchain For Business, I recommend you to buy my book by clicking on the Buy On Amazon Button Below. You can preview this book by clicking on Free Preview button. Thanks for your support.

May you find success in your endeavors and business.

Yours Sincerely

Anthony Aroes

 

What is NFT and NFT Trading?

Cryptocurrency And NFT Trading: Earn Passive income Online

Dear Friends, thanks for your support and being here to read my blog post with free tips. I like to warmly recommend you to check out my book below, kindly click on the Preview if you like to read a sample of this book or click on the Buy on Amazon button to purchase this book.

What is NFT?
NFT is an acronym for Non-Fungible Token, which is a token that resembles a cryptocurrency. However, while cryptocurrencies are fungible like physical currencies, meaning one Bitcoin is directly replaceable by another, NFTs are non-fungible, meaning they are like physical assets that you can sell in a market. For example, a 1-pound coin is essentially the same as any other, but a rare baseball trading card is different from almost all others.

NFT Art Trading
CryptoKitties
Much of the excitement surrounding NFT trading involves digital artwork, but it can be anything from music to game pieces. Some of the biggest NFTs have been sports trading cards, music, and CryptoKitties, a game that trades images of cats.

How NFTs work
NFTs, like cryptocurrencies, are digital tokens stored in a blockchain ledger and traded over the network. NFT trading offers many benefits such as transparency, security, and immutability. More details on the benefits of the blockchain can be found here.

Are NFTs a fad?
Cynics often point out that owning NFTs is useless given the nature of digital artworks and assets. For example, a digital artwork that could sell for several million dollars can easily be downloaded by anyone to view, edit, or use, making trading NFTs pointless.

This is not much different than physical art, though, because anyone can go online and download an image of the Mona Lisa or buy a print. However, that does not make your printed poster worth $900 million. Likewise, ownership of an NFT is more valuable than a copy, and its value is determined by market forces.

The easiest and most obvious way to get into the NFT trade is to simply buy and sell NFTs. To find an NFT for sale, you need to visit a dedicated marketplace or app. There are many marketplaces on the internet, most with slightly different focuses or benefits.

Invest NFT
You will also need a digital wallet for the transaction, but not just any wallet. Not all wallets can support NFTs, so make sure you find one that does. Once it’s set up, you’ll need to fill it with cryptocurrencies. Then you can buy any NFT you have the money for with the wallet. The sale will then be permanently logged in the blockchain and the NFT will appear in your wallet once the sale is verified.

Investing in the NFT industry.
If you do not want to get directly involved in NFT trading but want to invest in the industry, trading NFT marketplace tokens or cryptocurrencies is the way to go. As a marketplace grows, the value of the tokens used to make transactions increases. Some of the larger marketplaces, like FLOW, can be traded on cryptocurrency exchanges.

Similarly, you can trade cryptos used for NFT trading, such as Ethereum. As ETH is increasingly used for both NFTs and regular purchases, its value would increase and you can make profits by reselling tokens.

Decentralized
A slightly more obscure way to trade NFTs is offered by the virtual reality world called Decentraland. This is a digital platform similar to those in science fiction movies like Ready Player One. The world consists of plots, each of which is an NFT that you can buy and thus own.

With the plots you can create anything you want, from a building to a game to an advertisement. These plots can increase in price as the world becomes more popular and land becomes scarcer or more useful. Parcels can be resold or rented out for other creators to place their content there, allowing for a range of NFT trading options.

Create and sell NFTs
Finally, you can also make money by simply creating an NFT you want to buy and then selling it. No special skills are required to create the digital asset itself; if you want to create a piece of digital art in Paint, you can. Transferring it to an NFT, however, is a bit more difficult.

Most NFT-supporting blockchains have templates you can use. Ethereum, for example, has ERC-721, which is used to create most NFTs. Semi-fungible tokens, such as concert tickets or some gaming items, use the ERC-1155 standard. There is also a new standard, EIP-2309, which allows creators to mint as many NFTs as needed in a single transaction.

OpenSea
OpenSea is a leading NFT trading platform with the largest digital marketplace. Customers can trade a range of NFTs, from art and collectibles to domain names. More than 700 projects are available and fees are competitive with a 2.5% transaction fee for sellers. OpenSea accepts a full range of payment methods, including Ethereum.

OpenSea platform

All in all, a good option for investors who are new to NFT trading. It offers a wide range of products and a user-friendly interface.

Nifty Gateway
Nifty Gateway is a centralized marketplace based on the US dollar. You can buy and sell artwork and collectibles, known as ‘nifties’, here. The platform made headlines when Canadian musician Grimes raised $6 million after selling her virtual artwork on the platform. The company also works with innovative brands to offer limited edition collections that are available for a specific period of time.

Nifty Gateway NFT Trade
Especially for individuals trading in USD, Nifty Gateway is a good option.

Rarible
Rarible is another popular NFT trading platform that connects buyers with sellers. You can find an impressive portfolio of digital artworks and memes on the user-friendly platform.

Rarible also offers its own digital currency, RARI, which is used in conjunction with Ethereum to facilitate trading. One benefit of owning RARI is that customers can vote on changes to the platform and have a say in the artwork sold. The NFT trading platform has also partnered with OpenSea and collects a 2.5% fee on each sale.

Rarible NFT Trade
Overall, Rarible is another great option for traders who are new to NFT trading.

NBA Top Shot
The last NFT trading provider on our list is NBA Top Shot. It is the product of a partnership between the NBA and a Vancouver-based blockchain company called Dapper Labs. The platform offers videos and a 3D spatial representation of game clips that can be purchased in the form of “packs.” Prices for Top Shot packs start at $9 but rise to $999 for rare and legendary categories, and hundreds of thousands of buyers can join the queue to get their hands on the digital products.

NBA Top Shot NFT Trade
For basketball fans, NBA Top Shot is the clear choice when it comes to NFT trading platforms.

Artist royalties
A big incentive for NFT trading is the possibility of better recognition and payment for artists. Nowadays, artists are usually paid by platforms or companies that promote them and sell their work. Artists then receive a portion of the revenue in the form of royalties, but these are often small or do not take into account the additional value that the work could accumulate.

NFT trading not only verifies all artwork and ties it back to the creator, but also provides special royalty opportunities. NFTs allow artists to profit directly from all sales of the NFT, no matter how far in the future they may be. When an NFT is created, it can be assigned a value that passes a certain percentage of each sale back to the original creator.

This means that a work of art that originally sold for $10 and skyrockets to $1 million the next time it is sold will make its creator money based on its new value, not just the original $10.

The dangers of NFT trading.
Although blockchain ledgers are difficult to manipulate, there are still dangers and scams associated with NFTs. Some crypto whales (people who own large amounts of a cryptocurrency) can sell an NFT from one wallet to another wallet they own at a much higher price than it would actually be worth. This is known as wash trading and artificially drives up the price of the NFT before reselling it to an unsuspecting NFT trader.

Blockchain ledgers may be difficult to hack for the reasons mentioned above, but there are other ways hackers can get at a person’s assets. Trading NFTs requires a digital wallet in which to store them, and these wallets can be hacked, so it is important to ensure that sufficient defenses are in place.

Is NFT trading secure?
In order for a new block to be added to a blockchain, certain numbers must be mined and verified. This requires a lot of computing power, but makes it very difficult to create false information in blocks. In order to process one block, each subsequent block must also be processed correctly. Mining many blocks makes this more difficult, as it is harder to process 1,000 blocks than ten.

This is not ignored by blockchain systems. Ethereum is currently introducing a new model that uses financial stakes rather than massive computational tasks to validate new blocks. This new blockchain, ETH2, works the same as the previous model in every other way, allowing for secure and transparent trading of NFTs, with only a reduced environmental impact. The energy saving potential of this system is enormous, with projections of 99.98% energy reduction.

This may sound like it would remove the decentralization that is at the heart of blockchain, but that is not the case. It is simply a different method for the nodes in the network to ensure security. ETH2 is also intended to improve efficiency without

Thanks for your support.

Yours sincerely

Anthony Aries