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Top 5 Technologies That Will Shape FinTech in the Next 5 Years

Fintech companies and businesses which deploy technology to offer financial services to their users, are now using robo-advisors, adopting apps and other tools intended to help customers develop budgets, creating more effective payment processing programs while using sophisticated technologies.

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Jul 28, 2021 at 12:31 // News

Fintech employs innovations

Fintech companies and businesses which deploy technology to offer financial services to their users, are now using robo-advisors, adopting apps and other tools intended to help customers develop budgets, creating more effective payment processing programs while using sophisticated technologies.

Some of the technologies being used in the financial technology sector include decentralized ledger tech (DLT), machine learning (ML), artificial intelligence (AI), low-code, edge computing, big data and data analytics, robotic process automation (RPA), blockchain, internet of things (IoTs), regulatory technology (RegTech), etc., and all these technologies show the massive potential to transform the fintech industry. Here is a list of technologies that will transform the fintech industry.

Application Programming Interfaces (APIs)

Presently, the use of application programming interfaces as a mainstream tech in fintech services and businesses is spreading like wildfire, and is majorly being fueled by regulations in the monetary services.

According to the new findings by Fintech 5×5 Report, about 90% of fintechs are using APIs and are ranked number one as the emerging technology being widely used globally, and is majorly being fueled by the flourishing of Open Banking.

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APIs are expected to continue being dominant in the next five years and will make it easy, effective, simple and fast for the integration of fintech services – an API makes it possible for programs to interconnect and interact with each other (e.g fintech program communicating with a business’ or bank’s server).

Fintechs are using APIs in payment processing (help to expand the payment and transactions alternatives which various merchants can accept), peer-to-peer (P2P) programs (which help to facilitate currency exchange hence leading to lower costs for lending programs which let venture capitalists loan funds), investment management (they help to give access to portfolio info of customers and this make is able for financial advisors not to guess the networth of the client), white labeling, and regulation (it is a mandate of a business to verify and confirm that their clients are exactly who they claim or say they are).

Generally, APIs will help to increase cost-effectiveness, will continue to open up fintech, and will also massively future-proof the fintech services.

Artificial Intelligence, Internet of Things, Machine Learning

AI performs work better with the combination and integration of IoT, machine learning, big data and management solutions. Currently, about 70% of the fintech companies use AI-solutions. AI has unprecedented and unutilized potentials which keep on attracting venture capitalists and researchers to do new innovations. The technology is regarded by the majority as a future tech now and years to come and its reputation and hype is high. As per the findings, it is more likely that in the next four to five years, artificial technology will dominate the market. 

Banking and Fintech solutions deploy AI tools for modeling techniques and analytics management. 

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AI also enables businesses to analyze the performance of a bank or any other financial business, helps to create insights and also enables the automation of crucial organizational processes. 

When AI is integrated with ML, the network helps in fraud prevention, risk management, fund development prediction, and customer service. When AI is integrated with IoTs, the network helps to increase the effectiveness and speed of both the internal and external financial processes. The network also enables a customer to connect a smartphone to a financial database and directly transfer or send information (data) to another device – for instance, CitiBank uses smartphones to unlock ATM-entrances during off-time.

Blockchain technology

The hype for blockchain, the underlying technology being Bitcoin (the world’s largest cryptocurrency by market capitalization) has flooded the fintech industry in recent years. The success for DLT doesn’t only hinge on Bitcoin, but other Fintech services as well.

The report by Fintech five by five, shows that about 20% of the financial technologies are DLT and blockchain tech and will continue to be implemented and adopted more widely.

In the coming five years, blockchain technology is expected to be greatly used in smart contracts, and since the decentralized ledger technology is good for providing security, it will be mostly used for privacy and confidentiality solutions. 

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Several Asian (such as United Overseas Bank, Yes Bank), European (such as Russian Alfa Bank, LatiPay), American (JPMorgan, Citi Bank), Australia (like Australian Commonwealth Bank) banking and financial institutions have already adopted DLT to secure payments and other monetary transactions.

The good thing with blockchain is that every transaction is encrypted and no one can penetrate. 

The technology also makes a hacking attack impossible since it is only the network stakeholder that approves the transaction. 

Blockchain also enables tokenization which inturn enables overseas companies to use foreign currencies rather than state-specific currency that can be weak in value.

Generally, with the advancements in technology and the variations in the monetary markets, the changes in fintech to adopt these revolutionary technologies are inevitable and unstoppable. Integrating such technologies will be a big innovation that will increase the efficiency of fintechs services and other financial businesses.

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Source: https://coinidol.com/technologies-shape-fintech/

Blockchain

Cardano, Solana and Ripple Price Quickly Regained a Momentum! Know the Upcoming Future Trend

Earn Crypto

The post Cardano, Solana and Ripple Price Quickly Regained a Momentum! Know the Upcoming Future Trend appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The crypto market experienced huge sell-offs on fears that the breakdown of China-based real-estate giant Evergrande. The collapse of the company could not only impacted China but also hit hard on other markets too. No doubt the current market is pretty bearish, yet assets like Cardano (ADA), Solana (SOL) and Ripple (XRP) trying very hard …

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The crypto market experienced huge sell-offs on fears that the breakdown of China-based real-estate giant Evergrande. The collapse of the company could not only impacted China but also hit hard on other markets too. No doubt the current market is pretty bearish, yet assets like Cardano (ADA), Solana (SOL) and Ripple (XRP) trying very hard to smash the immediate target. Despite the market crash, these altcoins showed a huge tendency to rebound quickly.

Cardano Price Analysis

Cardano price rebounded well at the strong support levels around $2.15. And despite the recent sell-offs, the ADA price restricted itself revisiting the same levels. And hence showcased a strong potential to rebound despite the market crisis. However, the uptrend still cannot be confirmed as the zones above $2.40 need to be sustained strongly. And hence it has to be seen, how Alonzo upgrade and Cardano’s upcoming summit on September 25th and 26th will help the ADA price trend.  The Cardano price is expected to regain ATH and might run towards $10. The price may drop well below $1.970 if it fails to hold the support. 

Recent News On Cardano

  • Cardano launched the much-awaited Alonzo Hardfork Upgrade on September 12th, 2021.
  • Carano Community is going to conduct the biggest blockchain event on 25th and 26th September. Where Cardano’s new partnerships with reputed organisations, the addition of new DeFi protocols (Officials say Hydra protocol to remain as the focal point of discussion) and many more things are awaited.

Solana Price Analysis

Solana (SOL) price after surging high to set a new ATH at $210.12, slipped to $139.1 on 17th September 2021, as the SOL network encountered a large increase in transaction load. Despite the market crash, the SOL price rebounded quickly to an immediate resistance level at $142.21. The asset appears pretty confident of its bull run in the upcoming rally, a portion of the crypto community believe the SOL price has the potential to surpass $300 too. And if bears take over the market, the SOL price could eventually drop well below $100.

Recent News on Solana

  • Solana (SOL) price hit ATH $210.12 on 9th September 2021. Amid a rise in bullish sentiments, Solana mainnet beta encountered a massive surge in transaction load which peaked at 400,000 TPS. This resulted in a drop in SOL price.  
  • Solana’s wallet Phantom built for DeFi and NFTs achieved a milestone of reaching 400k weekly active users. 

Ripple (XRP) Price Analysis

Ripple price, currently attempting very hard to smash immediate resistance levels at $1.08. The price rebounded well after the recent sell-offs which drained XRP price nearly by 11% of the price. Despite a slight pullback and amid raising FUDs over SEC’s lawsuit on XRP, the price trend responded well and has the strong potential to range towards $5 in future. If SEC wins the case then it would affect XRP price.

Overall, Cardano (ADA), Solana (SOL), Ripple (XRP) has shown immense potential though the market crashes heavily impacted the price of many prominent assets. These altcoins could reach a new high in the upcoming bull cycle. Holding and continuous integration of their strong fundamentals is the key to carry forward the momentum. 

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Source: https://coinpedia.org/price-analysis/cardano-solana-ripple-price-quickly-regained-momentum/

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How Will Cryptocurrency Help The Private Sector

The post How Will Cryptocurrency Help The Private Sector appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

When the first few cryptocurrencies were released, people looked at this idea as another way for underground dealers to manage their transactions and finances. Because Bitcoin was the most successful of the earlier cryptocurrencies, people tend to associate the whole of cryptocurrency with it. In the early parts of 2010, the perception of Bitcoin was …

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When the first few cryptocurrencies were released, people looked at this idea as another way for underground dealers to manage their transactions and finances.

Because Bitcoin was the most successful of the earlier cryptocurrencies, people tend to associate the whole of cryptocurrency with it.

In the early parts of 2010, the perception of Bitcoin was generally negative. One major issue people had with it was the idea of general decentralisation.

Having something almost entirely unregulated by governments puts several red flags on Bitcoin’s legitimacy, as well as possible legal issues that may occur.

‘At this point, nobody expected that cryptocurrency would develop into what it is today. 

But time changed things for Bitcoin

Towards the end of 2010, Bitcoin picked up viral popularity, which put a small amount of value into the digital currency.

When people started to see the value of Bitcoin rise, people began to take notice. When a man from Tennessee with the nickname KnightMB bought a pizza with 10,000 Bitcoin, people saw that cryptocurrency could be used in real life.

Many people believe that this was the beginning of the cryptocurrency phenomenon. Since then, Bitcoin has become the most prominent cryptocurrency in the world at around 40,000 USD to 1 Bitcoin.

Today, several major corporations worldwide own a certain amount of Bitcoin and are involved in the trading and exchange of Bitcoin. Showing us that the private sector does intend to invest in cryptocurrency. 

After a lifetime of manipulating and dealing with the current financial systems in play worldwide, most of the major corporations worldwide need to navigate their way through digital currency.

Many companies involved look at cryptocurrency as an investment for the far future.

Employement, banking and Investment

Creating more jobs for the next generation, who are typically more technologically literate, and for future generations as well.

However, the question about the sustainability of cryptocurrency has raised several eyebrows. Several million are being invested into something limited in number.

This would keep a specific cryptocurrency’s sellability at a precise timeframe, thus making it a hazardous investment. 

We can look at this interest towards cryptocurrency by the private sector as a shift towards a more digitally inclined financial system. Several corporations are starting to see the possible benefits of investing in cryptocurrency.

One benefit is the ability of cryptocurrency to reach newer demographic groups for certain companies. A recent study showed that around 40% of customers who pay with cryptocurrency are new customers.

In relation to this, the digital nature of cryptocurrency allows for quicker processing of transactions.

This allows for more transactions to be made over a period of time. 

Another benefit the private sector takes from cryptocurrency is more on the overall reputation and appearance of the company.

The use of digital currency, more so with cryptocurrency, gives an impression of the company’s aim to be more progressive and forward-thinking with technology.

A major issue that many companies have to deal with is trying to integrate newer technology into any part of the production and sales process. This shows the adaptiveness of the company as a whole, making it look more attractive to newer customers. 

Trade Bitcoin right away with our quick and easy registration! 

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Source: https://coinpedia.org/guest-post/cryptocurrency-helping-private-sectors/

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Cardano Price’s Potential Bullish Reversal Eyes At 20% Upswing, Is $3 Pre-Programmed?

cardano price ADA

The post Cardano Price’s Potential Bullish Reversal Eyes At 20% Upswing, Is $3 Pre-Programmed? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The crypto space after a dreadful of huge losses appears to have set back on track with a decent rebound. The Bitcoin price which was expected to plunge below $40K is now sustained above $43K. And Ethereum price regained $3000 position after slumping down close to $2900. Yet the leader remained Cardano price which withstood …

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The crypto space after a dreadful of huge losses appears to have set back on track with a decent rebound. The Bitcoin price which was expected to plunge below $40K is now sustained above $43K. And Ethereum price regained $3000 position after slumping down close to $2900. Yet the leader remained Cardano price which withstood the crash like a giant and refused to tank below $2. 

Currently, the ADA price is undergoing a healthy consolidation and hence the upcoming move could gather good profits. The price is heading strongly to the immediate resistance levels around $2.4. And further, attempt to break the channel at $2.47. With the successful breach from the pattern, the price could ignite towards the next target. 

Also Read: Bitcoin & Ethereum Options Expiry on September 24th, What Does This Mean for the BTC and ETH Price?

cardanoprice

The ADA price currently appears to have formed the falling wedge, and as an outcome, the price could tend to raise a massive leg up. The price during the plunge rebounded firmly at the support levels at $1.97 and is marching high. The ADA community once again uplifted the price without allowing it to decline, incurring heavy losses. However, $2.4 levels appear pretty important as ranging above these levels could trigger the price to smash the ATH very close to $3. 

Collectively, Cardano(ADA) price proved to be among the better investments over time, as the asset refuses to slump drastically as of now. However, minor corrections do act as a barrier to the rally, yet the bullish momentum could be well in place.

Also Read: Everything You Need To Know About Airdrop For XRP Holders

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Source: https://coinpedia.org/price-analysis/cardano-price-potential-bullish-reversal-eyes-at-20-upswing/

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Why investors are now enthusiastic about “blockchain games”

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Cryptocurrency that has already caused multiple bubbles this year. But what investors are looking at right now is something that’s already ahead – blockchain games.
We will explore the background of investors’ attention to blockchain games while explaining how blockchain affects the game industry and the relationship between blockchain games and cryptocurrencies.

1. Why are investors now focusing on blockchain games?

Development of the game industry with the latest
AI (artificial intelligence), VR (virtual reality), and he is AR (augmented reality), which are becoming more and more familiar with the development of technology. One of the industries in which these latest technologies have a great influence is the game industry. The feeling of entering the game world attracts many gamers.
Currently, the main experience is at game centers and events, but in the future it will not be long before there is one VR per family.Fusion of virtual currency and games
Entering the game industry with cryptocurrencies is an indispensable topic in explaining the relationship between games and blockchain. The number of games that allow you to buy and sell items using virtual currency is increasing.
for example CryptoKitties(暗号仔猫)

Is a pioneer of games that can be traded with virtual currencies, but since its introduction in 2017, huge amounts of virtual currencies have been traded. CryptoKittes is built like a blockchain of Ethereum (ETH), which is a kind of virtual currency, and it is a mechanism that you can buy and sell kittens using Ethereum.
Especially after the word NFT (Non-Fungible Token)  became familiar, the merits of owning NFT were easily understood by people, and NFT was traded at a value of millions to tens of millions of yen.

Why blockchain contributes to the gaming industry
Blockchain plays a very important role in games that will be further developed by the latest technology and will also be a virtual currency exchange.
In a nutshell, blockchain makes in-game cryptocurrency transactions more secure.
In the first place, blockchain is called “distributed ledger technology”, and it is a technology that allows users to manage and share the same ledger on the network. The transaction data history of virtual currency is called “transaction”, and the one that stores a certain number of transactions together is called “block”. When a new block is created, it becomes a “blockchain” by connecting with past blocks like a chain.
Generating blocks requires a huge amount of computer-based calculations. In addition, since the data is distributed to many computers all over the world, even if some of the data in the chain is tampered with, the entire data will not be affected, and the risk of service outage will be infinitely zero. close.
It is a fact that it seems natural when understanding the mechanism of blockchain that blockchain has a great influence on secure cryptocurrency transactions in games. By making safe transactions, the number of users of online games will increase quadratically.

Blockchain entry into online casinos
Traditional online games aren’t the only ones that have made remarkable progress with blockchain. “Online casinos”, where you can enjoy casinos on your computer, are also one of the industries that are benefiting from blockchain.
Online casinos, like traditional casinos, generate monetary transactions and handle personal information. By introducing blockchain there, users will be able to trade with peace of mind. Concerns about “the management side may be illegally controlling data and losing money” that comes to mind when trading money online are dispelled.

As with games, the number of casinos that can be traded using virtual currency is increasing,   An online casino where you can play for less than $ 1 

2. The future of blockchain games that investors are paying attention to

Games using blockchain are evolving day by day. For example, Epic Digital Collectibles is a game where you can enjoy card games online, and you fight with cards collected using virtual currency. Considering that the cards that have been collected in kind (Yu-Gi-Oh! Cards, Pokemon cards, etc.) have been given huge values ​​depending on their rarity, the transaction amount of cards traded online will be ridiculous. right. Also, it’s easy to imagine that online casinos will become exactly “Las Vegas, which can be accessed online at any time” -a platform for huge transactions.

Online games and casinos can now be used more safely using blockchain. Blockchain games, which have the inevitable potential to turn into a huge market, will undoubtedly continue to attract the attention of investors.

Source: Plato Data Intelligence

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