Fintech

The digitalisation of the financial industry and the economy at large as well as the development of fintech increased public demand for cryptocurrency and advanced payment methods in Russia. However, the position of the country on cryptocurrency is still not clear.

The COVID-19 pandemic has opened the eyes of many central banks and has now taken a route of fintech innovation. Some of the major tools being currently looked at is introducing central bank digital currency (CBDC) into the finance and banking industry. But the main question is how these new forms of digital currencies impact the economy.

Facebook still faces problems before the launch of their Libra coin. Right after rebranding its Libra Foundation to The Diem Association, the company faces a lawsuit from a startup with an identical name.

The global debit card issuance giant Visa is known for its interest in innovative finance. After having successfully launched its first blockchain-based initiative, the company has been working further on expanding its innovative projects.

iCoinSoft, one of the first U.S.-based blockchain software developers, is launching a new state-of-the-art solution for e-commerce and fintech. The cutting-edge service will allow businesses to accept and manage transactions in cryptocurrencies at the lowest possible cost.

The financial technology (fintech) industry has seen a significant boost in terms of innovations. The most important technology is considered to be blockchain. However, some community players doubt that this tech is actually the saturation point of fintech.

It is no secret that inclusion in the international financial system is tightly connected to people’s wellbeing. While the population of developing countries worldwide suffers poverty, fintech innovations including blockchain technology can help these people improve their life.

A new report by Financial Services and the Treasury Bureau has revealed that Blockchain has grown more and faster than any other technologies in Hong Kong’s fintech ecosystem in the financial year 2019, with most of its applications directed towards enterprise solutions and cryptocurrency trading platforms.

Many institutions of higher education globally are considering offering classes related to Bitcoin, cryptocurrency, blockchain and other emerging innovative technologies because of their much-acclaimed benefits.