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Tag: blockchain career

Entrepreneurial Opportunities for Blockchains Outside Fintech

Posted on by Imarticus Learning
Reading Time: 2 minutes

Entrepreneurial Opportunities for Blockchains Outside Fintech

Blockchain technology revolutionized the banking world and financial transactions. It is rightly the buzzword in modern technology and touted as the backbone of the evolving fintech industry. However, blockchain technology was quickly adopted by banking, financial institutions etc. We shall look for the not-so-commonly known applications that the technology is being used for and is sure to transform. Such potential for transparency, security, and innovative access and storage has made it the brightest star in the technological world. And this throws up some very interesting entrepreneurial opportunities that are worth exploring and adopting.

Business Opportunities

The blockchain adaptations to technology are rising by the minute! Some of them are

Banking Sector

Now that the field is cleared of doubts with Wall Street and major banks cashing in on blockchain technology, there is tremendous potential for financial solutions offered to banks, financial and NBFCs, as well as individual clients.

Smart Contracts:

Some areas where smart contracts are secure, scalable and flexibly used are

  • Automation of distributions of Royalty in the movies, publishing and entertainment industry.
  • Maintaining and accessing medical records through smart contracts.
  • Scheduling and running of public transportation based on rules which are pre-programmed.
  • Transfer and management of property records.
  • Loan processing can be automated.

Connected Car

  • Task automation in supply-chain management
  • The facilitating, transport, encryption, distribution, storage and more of the Big Data of connected cars
  • Cloud servers, hosting, OEM services, and service providers of these services
  • Location tracking, maintenance, vehicle location, and automated operation of vehicles
  • Cybersecurity for V2I and V2V data

Food Safety

Blockchain business opportunities in the food industry are many for predicting and detecting failures in compliance, risk management, and reporting applications

Healthcare

Record maintenance, surgical records, and results, security of health records are some areas that have scope.

Internet of Things (IoT)

The Internet of Things technology has taken over nearly all fields. Blockchain technology can make the service of IoT more secure, safe and fast. Ex: Solar energy cooperatives, trust and verification services, smart city IoT processes, law enforcement tracking solutions and many more.

Passports and Visas

The advantages of a blockchain-based passport or visa can reduce wait times, implement alerts immediately, reduce check-in formalities and verification, and track information across a very large database. Opportunities exist in the digitization of passports and visas.

Wills and Marriage Certificates

Issue and recording of marriages, wills, property documents and the issue of documentation will present opportunities here.

Insurance Sector:

Opportunities will be in

  • Simple processing.
  • Time efficiency.
  • Improved efficiency and risk management mean reduced premiums.
  • Detection of Fraud
  • Records and disbursements with a record of history.

Food Safety

Blockchain business opportunities in the food industry are many for predicting and detecting failures in compliance, risk management, and reporting applications.
Fintech courses India-based consultancy and learning can help you encase the entrepreneur in you. These courses offer a good grasp of fundamentals, concepts, theoretical knowledge, practical skills and certifications that could help enhance your resume and career. They also offer boot camps, short-term workshops, and basic knowledge of technical skills oriented for Fintech industries placements. Certification helps. But, you need to be an excellent communicator and work diligently to acquire the best analytical, technical and business skills crucial to your job role. Another advantage of such courses is of mentoring by certified and experienced industry aces that helps garner the latest best practices, techniques, skills, and practice on the latest trending technologies in the field of investment banking, financial courses and more.

Top 5 trends that are influencing Fintech Sector

Posted on by Imarticus Learning
Reading Time: 2 minutes

 

Blockchain is the buzz word which has been on everyone’s lips of late. So, what is blockchain and how has it reshaped different industries today? Is blockchain worth to implement?

Before fintech adoption took place in the banking industry, it was tedious and time-consuming to go to the bank for any work. Customers would fret at the thought of waiting in long queues at the bank and banks had to figure out a way to efficiently deliver superior customer experience.

Now since simple processes are automated and transactions occur daily online with no worry, a technological revolution is here, and it continues to evolve. Opportunities in fintech have grown drastically in the past decade due to artificial intelligence (AI), machine learning and blockchain, the trinity of emerging tech.

Here are the top growing trends in the fintech sector.

Blockchain

Blockchain is the foundation on which most fintech companies are built. Data management is a gigantic task for most organizations, and with blockchain, banks are able to manage large amounts of customer data and transactions in a secure manner. This also means the loan sanctions, application, and disbursement of the amount can happen instantly over the internet. Blockchain maintains a simple, centralized ledger which can be accessed by banks real-time.

Automation

Since machines now have the ability to quickly track, manage and manipulate data well, large organizations have automated most of their administrative processes. This means a significant cost reduction and optimum efficiency at all times. Once simple processes get automated due to AI and machine learning it becomes easier for banks to shift their focus on value services for higher customer experience.

Regulation and Laws in Fintech

Since all transactions are carried out remotely and online, there are hard rules and regulations that are in place to reduce financial crime. Due to the blockchain, financial institutions are able to manage their customer records well thereby reducing frauds and theft.

Digital First Bank

Back in the day, people used to visit banks for all activities and transactions. Today, you can conduct most of your transactions online in the comfort of your home. Anytime and anywhere banking is the norm. Fintech has enabled individuals’ payments anywhere, thereby the need for the physical location of banks have drastically diminished. Banks and financial institutions are also training their employees in Fintech training to ensure that they keep up with the changing dynamics of the industry

Data Lending and Data Management

Due to the advent of cloud, it is very easy to manage large amounts of structured and unstructured data on the cloud and collaborate for data management. Financial institutions are considering lending data to each other to reduce crime and evaluate credit score.

Blockchain, AI, machine learning, automation, and cloud computing have significantly impacted the Fintech industry both in terms of creation of jobs and opportunities to grow businesses. The banking institutions are relying heavily on fintech companies to reshape the way processes are carried out and drive optimization and create exponential value to customers.