FinTech

Blockchain technology can address current inefficiencies within the supply chain space, bringing new levels of traceability to logistics processes hindered by current paper-based solutions. Using blockchain’s distributed and decentralized ledger, records of transactions can’t be erased, boosting overall transparency, increasing efficiency and improving cash flow for logistics operators. It would be wise to focus on use cases that involve multiple parties using transactions to synchronize ledger information and use cases that requires immutable records — both exciting challenges that demands the major industry players to collaborate and create a solid foundation for a community.

Fintech and blockchain technology merge quite well.  The number of blockchain fintech startups is soaring, while distributed ledger technologies slowly taking ground in the financial services industry. It will be interesting to see if this technology and smart contracts can live up to their expectations and transform financial ecosystem for the better. Let’s see how smart contracts and blockchain can transform the global FinServ, explore the major blockchain platforms, and check out several fintech startups that use this technology.

Why would a cloud company that makes billions of dollars from its cloud business endorse a technology that many believe obviates the need for the cloud? Blockchain does not necessarily come at the price of destroying traditional businesses. There are excellent ways for centralized businesses to adopt the transparency, security and open source nature of blockchain technology. But the technology is still struggling with many challenges, one of the most prominent being the storage of large data. In that context, the cloud and blockchain can coexist.

One of the most exciting things about cryptocurrency is that the future hasn’t been written yet. And one of the things that strongly distinguish people in the cryptocurrency movement is how they deal with consent. If you care about consent, the safest thing to do is to ask every time. We are all creating this movement together. Let’s all do our best to build the culture of consent. The future of cryptocurrency, the future of open source money, and therefore the future of our financial infrastructure depends on it.

To stay competitive and successful, both FinTech software developers and financial companies need to catch the waves of digital disruption and learn how to ride them right. To keep up with the finnovation pace, businesses are adopting the emerging technologies such as Data Science, AI, digital currency, Blockchain, Biometrics, and more. However, they may turn out to be intricate and present challenges you need to be ready to embrace. Here are 5 innovations FinTech software developers need to be ready to adopt to implement FinTech innovations with sense and caution.

As companies scale transaction volumes and integrate with more and more third party software, they get a growing inflow of data and services. On the downside, this subsequently increases the risk of data breaches and cyber-attacks. fintechs currently suffer from the mismatch between innovations and regulations as the latter don’t keep up with the technological advancement in the financial industry. What’s more, early-stage startups usually don’t have adequate compliance teams. Such unstable regulatory environment creates additional security and compliance challenges for the financial market players. Then how to scale up without compromising security?

Bitcoin is the leading edge of a movement I think of as Open Source money, and here are a few ways of thinking about this that might help. Here are 100 things to know for those new to bitcoin. The goal isn’t for you to understand all of these assertions, but if they contain unfamiliar words or concepts, you can then google those concepts and become informed. Understanding what is behind these 100 assertions will help you become knowledgeable about Bitcoin. If you want you can see how many of these things you already knew and give yourself a score out of 100 at the end.

Solving business problems with blockchain ensures efficient functioning of an enterprise. When an organization suffers a loss or a specific problem that manages to disrupt its rhythmic flow , authorities frantically search for options that can help them solve the problem. Blockchain is a technology that focuses on increasing transparency and introducing decentralization that will allow the technology to enable everyone on the network to view information stored on ledgers. Blockchain has many applications that contribute to its popularity amongst people. Here are four common business problems that can be solved using blockchain.

There are only two cardinal rules of cryptocurrency that arise directly from public key cryptography. As you probably know, modern cryptography is based on paired keys, a public key and a private key. Because of the blockchain, public keys and incidentally wallet addresses should be verified before sending. Due to the principle of immutability and the lack of a trusted intermediary, there’s no way to contest or reverse a transaction once it’s been made.The second law is simply that the owner of the private key is the owner of the wallet and all the funds therein.

Blockchain technology alone cannot provide freshness, safety, provenance, and recall capabilities. That requires data and capabilities from outside the blockchain. It seems that the best emerging approach will be a hybrid consisting of 1) a centralized networked SaaS platform providing economical scalability and deep algorithmic and process capabilities, combined with 2) blockchain and smart contracts for transparency and validation. Blockchains are attractive because of their ability to create a shared, trusted single-version-of-the-truth between trading partners. However, a networked SaaS platform can provide a shared, trusted single-version-of-the-truth at a much lower cost.