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Tag: Blockchain

Why is blockchain technology revolutionary?

Posted on by Imarticus Learning
Reading Time: 2 minutes

The rise in value from pennies to nearly 450$ did catch the imagination of nearly the whole world and suddenly industries were talking of the revolutionary Bitcoin, its blockchain technology and whether this would actually lead to disrupts or be the enabling technology of the future in all financial transactions.

In the US companies like the conservative IBM, groups like the R3 Consortium and newbies like Blog and several others were responsible for viewing and transforming the interest in Bitcoins to the revolution of Blockchain technology.

Today the world of Fintech, banking, and sectors like the real-estate, stock-markets and recording of financial transactions have more or less integrated the blockchain technology into their systems.

What is revolutionary in blockchains?

At present, there are two segments namely those using the blockchain adapted to their own systems and processes to increase efficiency, provide transparency and make financial transactions secure and immutable and the Bitcoin open network operating globally for cryptocurrencies.

Blockchains were termed revolutionary for the following scoring features.

  • Cryptocurrencies became tradable assets.
  • Code rules all transactions: The blockchain is based and governed by its coding. Once recorded it cannot be changed or tampered with. Also, the digital records are available to the public and thus ensures a safe, immutable, recorded transaction.
  • No governmental, legal or regulatory involvement as a third-party exists.
  • Trust and records between transacting parties without the involvement of institutions and banks were welcomed.
  • Data is permanently stored.
  • Blockchain verification and public record verification were used to track and verify every transaction.
  • Access is only through your private key.
  • Use of a reliable currency exchange platform prevents hackers and ensures safe transactions.
  • The receiver address is very important: In a digital and decentralized system once you transfer to a wrong party there can be no charge-backs or support interventions.
  • The possibilities of using tokens to make purchases, trade, sell or buy anything in virtual currency.
  • The accompanying digital wallet has enhanced security and can be password protected.Whether the technology will actually be adapted and change the banking industry, whether the blockchain is an enabler or will cause a disrupt and whether Fintech will really take off is a matter of speculation.

To learn all about blockchain technology or avail blockchain training one can do a fintech course. Such courses have several advantages and can give you a headstart if you are interested in pursuing a career as a blockchain developer. It is recommended you do a certified course from a reliable institute like Imarticus.

This ensures you get both the theoretical knowledge, technical skills to adapt the learning into solutions, and the practical knowledge of trends and industry-relevant knowledge to further your career. While certification does help in this evolving field, it is best to remember that opportunities will grow exponentially and will depend entirely on your skills.

What are other uses of a blockchain apart from cryptocurrencies?

Posted on by Imarticus Learning
Reading Time: 2 minutes

 

Blockchain has been the primary technology behind the rising popularity of cryptocurrencies, especially in 2017. It is the concept of having a transaction system without the involvement of any financial intermediaries, which has been revolutionary in its time. It completely obliterated the need for banks and transaction fees, and time required for long distance transactions.

Blockchain technology is not just meant for the cryptocurrency. Here are some of the potential ways in which it can be used in the modern world.

Processing payments and transferring of money: Banking transactions can become much simpler when blockchain is involved. Transfer of funds from one party to another can be facilitated 24 x 7. Banks are not involved in the process, and therefore, the transaction can be completed within seconds.

Supply chain management: There is no need for records or physical bookkeeping when it comes to maintaining supply chains. Blockchain would help business owners figure out the issues in the supply chain much easily, and then locate the issues in real time. The technology would help perform quality control checks in the supply process from the place of origin to the retailer.

Rewards programmes in retail transactions: Loyalty rewards are an effective process to keep customers and maintain revenue for many retail businesses. Including blockchain in this system would completely eliminate the need for paper and card bases loyalty reward points. The token-based system would reward customers in a fast and effective way. Fraud and other issues would also not arise which is common in the current systems. Customers would find this system more reliable and would come back to shop from the same retail chain.

Digital IDs: Digital identification has become an increasingly important concept. It eliminates the need to carry your identification document around. It will also help people in remote areas get access to resources or banking services. Microsoft is currently working on digital IDs through its Authenticator app. It is currently used by many people and gives them control of their digital identities. Blockchain technology is instrumental to facilitate the process. The company is also working on decentralized digital IDs as well.

Sharing of data:  Blockchain can be used to share or sell unused data. The cryptocurrency IOTA has recently launched a beta version of the Data Marketplace. Involving blockchain can help unused enterprise data be used in a number of industries. Currently, IOTA has more than 35 brand-name products currently, with Microsoft being one of them.

Protection of copyrights and loyalties: Copyrights and loyalties for music and other shareable creations have become unclear, with digital and other platforms are involved. Involving blockchain in the process would help secure the transactions which take place for such products. Loyalties and copyrights would also be maintained properly as a  part of the process. Blockchain training offers a real-time distribution of data, which can be especially helpful when it comes to profit-sharing.

Online voting: Blockchain offers transparency in the system which can be very useful when it comes to voting. It can help you put votes digitally, and all regulators can clearly keep a track on the votes, making your vote really matter.

What are The Best Books To Understand Cryptocurrency and Blockchain?

Posted on by Imarticus Learning
Reading Time: 2 minutes

Blockchain and cryptocurrency had taken the world by storm in 2017. The idea of digital currency has revolutionized the concept of sale and purchase of goods on the internet. Recently, cryptocurrency has become unpopular due to the lack of institutional controls behind it. There is no denying that it is the way to the future, though. This is the best time to read up on the concepts and brush up your knowledge. With the potential it holds in the future, being aware of the basics will put you ahead of many others.
There are many books out there which will support your Blockchain training. Here is a selection of books which are best suited to develop an understanding of the blockchain technology and bitcoins.
Digital Gold: Focusing on the first cryptocurrency which was developed. The book goes into the history of the evolution of Bitcoins. It walks you through the ideation and the creation of the blockchain revolution. The book, written by Nathaniel Popper, is a New York Times bestseller. It will definitely help you appreciate the efforts that went into making the technology, and clearly understand how the technology started, and what it is poised to be.
Blockchain Revolution: This is a great book to understand the fundamentals of blockchain technology. If there was a technical guidebook on the technology, this is it. The book is written by the famous business and management strategist, Don Tapscott, along with his son Alex. There are technical illustrations and examples clearly explaining the basics. It also shows how technology has changed the future of how we make transactions. You will also find real-time examples of various projects which are under development, along with the results.
The Bitcoin Standard: If you are interested in the economics of Bitcoin, this is the perfect book for you. The book explores the history of money and how transactions have been done. The author then discusses the challenges that Bitcoin poses to the current financial system. It also discusses the impact Bitcoin can have on the future as well.
Blockchain Basics: This book goes into the technical details of how blockchain works. However, it is extremely easy to understand from a non-technical point of view as well. There are illustrations, analogies, pictures, which make the book easily understandable. If you are looking for a Fintech Courses focusing on blockchain and cryptocurrency, then this is a great book.
The Truth Machine: This speaks about the larger concept of what blockchain stands for. From privacy-related issues to the control of data, a number of complex topics are explained from the perspective of blockchain and cryptocurrency.
Cryptoassets: Investors in cryptocurrencies will find this book extremely useful. The book clears the fundamentals of cryptocurrencies and is extremely useful if you are interested in investing in the future. Concepts, such as dollar-cost averaging are also explained with ease in this book.
Mastering Bitcoin: This book focuses on the software aspect of the book. Programmers and developers will find this book extremely useful because it goes into the technical details of the programming that goes into blockchain. Newer developments in the field, such as the Lightning Network, are also given in great detail in the book.

How Your Job Will Be Stable If You Start A Career in Blockchain?

Posted on by Imarticus Learning
Reading Time: 3 minutes

The blockchain technology has moved beyond Bitcoin and cryptocurrency and has a wide array of theoretical applications. Many start-ups, legacy company, tech firms and government agencies are hiring blockchain developers towards the development of their projects such as ICOs, digital wallets, incorporation of blockchain technologies smart contracts into accounting, HR, finance and IT functions of large-sized enterprises etc., as a result of this a career in blockchain can be a highly lucrative option.
Career in Blockchain
Blockchain has become the equivalent of ‘the cloud’ of the mid-2000s and is predicted to become the next big thing. The blockchain is one of the fastest growing skills in the industry, and the current demand is exceeding the supply of blockchain engineers and developers available within the marketplace.
Some of the most in-demand blockchain jobs in the marketplace are:

  • Blockchain developer

There is a high demand for blockchain developers in the market as the industry is still in its infancy, has enormous potential, everyone is gearing up to become the market leader in this domain. The scope and full potential of blockchain developer are yet to be discovered entirely with the technology having immense potential.
The position of a blockchain developer can be one of the safest position within the industry due to the versatility of the position, a blockchain developer is in a position of offer multiple roles and can be transferred almost anywhere within the horizontal of the company.

  • Blockchain Project Manager

The roles and responsibilities of a blockchain project manager involve connecting the wide range of dots within the organisation’s business cases within the development of blockchain-based technology. They have to coordinate with multiple blockchain experts within and outside of the organisation involved in the development of blockchain related projects of the company.
These professionals are required to have knowledge and experience of working within the industry, technical know-how and should be able to communicate project reports and status to various stakeholders who do not have the technical understanding of blockchain. These positions are often filled on a project basis and hence have some level of instability and lack of job security.

  • Blockchain Quality Engineer

These are the equivalent of quality control and quality assurance engineers of blockchain and can be considered as one of the most important careers in the blockchain. They are required to test and ensure the quality of all areas of the blockchain-based product or project. They are further required to test, automate and test a wide array of frameworks within the blockchain. Blockchain quality engineers also guide the testing of the strategy of development of blockchain and maintaining quality test standards.

  • Blockchain legal consultant and attorney

With the advancement and introduction of newer technologies, a wide array of legal questions, implications can arise. Companies and businesses need to hire legal experts towards addressing these questions and concerns and safeguarding them from any foreseeable legal complications. Legal experts help businesses and companies to understand and prepare them to face and protect them from various scenarios which have legal implications.
Probably one of the most stable positions in any industry, blockchain legal consultants and attorneys is deemed to be one of the most lucrative careers for legal and blockchain professionals.
The Verdict
The decline of prices of Bitcoin and other cryptocurrencies is no indication for the future of the Blockchain technology. Blockchain technology might be the underlying technology for Bitcoin, but it has a wide array of implications and development of these technologies is still in its infancy.
As and when the blockchain technology will evolve, it will open more opportunities can avenues for a career in the blockchain. While it is impossible to predict how the blockchain technology will shape up in the future, a career in blockchain is expected to be quite stable and lucrative for blockchain engineers and professionals.

JP Morgan Launches Its Own Cryptocurrency

Posted on by Imarticus Learning
Reading Time: 2 minutes

Amidst all the speculations and debates about the ability of cryptocurrencies to store value, the US banking giant, JPMorgan & Chase announced the launch of their own digital currency. The “JPM Coin” is expected to conduct a tiny fraction of the bank’s $6 trillion daily transactions.
So, What is JPM Coin?
The JPM coin has been created on top of Quorum which is an enterprise-focused variant of Ethereum blockchain platform. This new”cryptocurrency” from JP Morgan Chase isn’t exactly a Cryptocurrency. It is more like a digital representation of basic banking. It can be only used to represent your money located within a Morgan Chase account. Stable coin will be a more matching description for JPM coin and it looks promising enough to spread all over other banking systems in the near future.
How does it work?
Unlike the Bitcoin and Ethereum, the value of a JPM coin is pegged to the US Dollar. So one coin will be always equal to $1. Once a customer transfers his money through the bank, the fund will be transformed into an equal number of JPM Coins. These coins will be transferred instantaneously to the recipient and he can redeem it from the bank.
Why JP Morgan and Chase are launching a Digital Coin?
In early 2018, the bank had expressed its interest in the blockchain technology and cryptocurrencies with proper control and regulation. The ability of these technologies to enable immediate value transfer and lower capital requirements have always attracted such financial firms. Most large banks in the world are now doing their research in the blockchain technology to find a cure for many woes present in the financial sector.
One of the major woe JP Morgan chase trying to solve through the JPM coin is the ageing Swift transaction networks. With this new coin, the bank will be able to provide a faster, cheaper and reliable environment for value transactions.
The Important After Effects of this Launch
JP Morgan Chase is the first major financial institutions in the US to introduce its own digital coin. It can be seen as a positive sign towards the upcoming applications of blockchain technology. By introducing JPM coin, the bank has validated the credibility and reliability of blockchain technology which will motivate other private and government institutes to adopt the technology.
The huge size of JP Morgan and Chase bank will help the rest of the world to understand more about the scalability and global adoption of the blockchain. With around 27 million accounts to serve data, the end result of this digital coin will influence the consumer blockchain adoption.
However, this facility is not yet available to the general public. According to the bank, the coin is still in its test phase. As of now, this service will be limited to a few institutional clients. With other large banks including Citi moving forward with their blockchain research, in a very near future, we can expect the more interventions from this tech into the traditional systems.

What Are The Blockchain Technology Courses To Meet Demand in The Workforce?

Posted on by Imarticus Learning
Reading Time: 4 minutes

Blockchain technology is simply decentralization of data that is achieved by collecting the data on multiple systems. Due to the lack of centralized data, hackers find it very hard to penetrate the security walls of the application that are safeguarded by the blockchain advancements. Due to its robust and reliable nature, many industries including health, real estate, finance, and other industries are adapting to it. As a result, there is a huge career scope in this domain.

Why Blockchain Technology is The Catch Today

Financial companies and top banks in the world are leveraging blockchain technology to implement a higher level of cybersecurity in their transactions. This technology can not only be shared by different users, but every bit of data needs to be authenticated completely before entering the network.
Logistic companies’use blockchain technology to track their containers across the world and it is also being implemented in the food and agro-based industries on a large scale.
Even HR recruiters are using this technology to verify the authenticity of the documents and to check their backgrounds. With a myriad of software services, blockchain is being used in different sectors such as medical, telecom and much more.

Popular Blockchain Technology Courses

The growth of Fintech in India has been substantial over the last decade, and therefore, today many financial institutions provide blockchain course training. Some of them also include blockchain certification in their curriculum. Students who have a background in networking or languages like Java and Python can learn about blockchain to meet the rising demand for blockchain developers, engineers, and designers in the market. These blockchain course are online-courses and popular in the career markets of today.
1. The Basic training: This fundamentals training in blockchains takes you through the evolution of blockchains and how they work. You may even find free courses that give you tutorials on blockchains through the online medium.
2. Certification courses: A Certified blockchain course is an option for aspirants making a career in fintech and wishing to learn applications and skills in blockchain technology aimed at developing solutions for real-time and industry-related problems. A computer science backing and graduation can help careers of investment bankers, DevOps people, software developers, investment bankers etc. make a career in the Fintech segment.
3. Certifications: Students and professionals who are interested in a blockchain course and certification can take up Blockchain council certification at Imarticus Learning, which is an online certification course for blockchain experts.
Fintech is a term coined from morphing words of Finance and Technology. The financial transactions sector is heavily impacted with blockchain technology making the transactions secure, rapid, immutable with excellent record keeping in distributed ledgers and cryptographically encoded blocks interlinked to each other in hash-tag codes. Almost all technologies like AI, VR, AR, IoT use the advantageous blessings of blockchain advantages to spur their growth and productivity. This, in turn, fuels the demand-supply gap for trained professionals and drives the payouts to unbelievable levels for the experts and well-trained professionals.

How Blockchain Technology Helps the Careers of Professionals:

A basic understanding of blockchain will prove insufficient for the professionals as they also have to apply their knowledge in real-world scenarios and issues. However, due to a serious dearth of blockchain professionals, companies are willing to hire people who have a technical or software background. Moreover, IT companies are also looking to hire freelancers on the basis of hourly pay to satiate the demand in the workforce.
Where opportunities exist:
The Fintech sector and industry need professionals and personnel in
• Emerging Technologies like cloud services, blockchains etc.
• Payments and digital financial transactions.
• Working in analytics of Big Data.
• Cryptos and virtual wealth management.
• Solutions and service providers.
Suitable job roles in high-demand:
• Managers of projects and product owners.
• Experts in data management.
• Business Development and Sales.
• Recruitment and HR sector.
• Experts in financial markets, debt capital markets, equity funding etc.
You can find openings in diverse verticals ranging from internship positions to Blockchain developers, Project Managers, Quality engineers, Web designers, Blockchain attorneys, engineers and more. This is precisely why a blockchain course can feed off the growing market demands for blockchain experts and provide a futuristic well-paying growth-oriented career.

Advantages of Doing a Fintech Certification

Certification in Fintech is a measure of your technical skills and aptitude for a career in the fintech industry which is evolving and has high personnel demands. Doing a good blockchain course like the Imarticus’ Fintech Prodegree will equip you with the fundamentals, concepts, theoretical and practical skills with coveted certifications that enhance your resume, job prospects, and career.
The advantage of mentoring by industry aces gives you the edge of experience learnt through techniques, tricks, best practices, skills, and lots of practice on cutting-edge trending applications and technologies. You will also need technical skills taught in these courses like skills in IoT, DevOps, Python, Big Data analytics, ML, and Hadoop.
Non-transferable skills are extremely important and properly aligned with your career and enterprise’s needs. You must have the following traits.
1. Excellent communication and interpersonal skills.
2. Creative and innovative problem-solving skills.
3. Team skills in contribution, and collaboration.
4. The dedication and ability for long work-hours under pressure, ambiguity, and lack of SOPs in a startup environment.
5. Integrity and financial discipline.
6. A team-player and quick learner of techniques and best practices.
Payouts: Definite standards in payouts are not present as of now. According to reports on Glassdoor, the payments are very appreciative and second to very few. However, with this evolving and rapidly expanding sector the demand for personnel is much higher than the supply positions thereby driving the demand for better salaries and promoting quick growth in Fintech careers.
Conclusion:
Careers are always the result of research and career choices. The present-day professionals are lucky to have sustained demand in the Fintech industries which encompass a gamut of verticals from insurance, digitized payments, real-estate, technological services, cloud storage and many more where there is undying job demand for analytics, software, and expertise in ML. Banks, financial stock markets and services supporting the Fintech industry are bound to see exponential growth in the next decade. Be prepared by doing a blockchain course with the Imarticus Academy.

Indian Fintech 5.4$ bn in 3 Years

Posted on by Imarticus Learning
Reading Time: 2 minutes

It has been only around three years since the inception of the first Fintech startup in India. Since that very first day, this sector has been growing steadily. We know that in November 2016, our high-value currency notes were demonetized. Unlike many other businesses, the Fintech startups made huge benefits from this government decision. In the next three years after demonetization, a huge percentage of Indian people have adopted digital transaction. The investors have identified this opportunity and raised about $5.4 billion in equity funding. From the $593 million in 2016, there was an increase of a whopping 300% to $2.34 billion in 2018. The year witnessed 144 equity deals in the Finitech sector.
So, What are the Factors Attracting the Investors?
The Fintech service firms are literally redesigning the way the financial transactions conducted on a daily basis. When it comes to India, such a large country with over a billion people, there is a huge untapped market for Fintech startups, to begin with. The rate of mobile penetration has reached 65-75 percentage in India which is expected to hit the 90% mark by 2020. The market opportunity presented by this alone is huge enough for all the investments to make sense.
Also, it is estimated that as much as 90% of India’s small businesses are yet to link with formal financial institutes. Similarly, there are plenty of gaps between institutions and services in India which offer great scope for the Fintech solutions.
The Upcoming Years
So many reasons are pointed out by the experts for the investors to stay excited in the upcoming years.

  • The maturity of Fintech sector: The series D round of 2018 witnessed six deal in total. In 2016, there was not even a single startup to make it to the series D stage. This comparison indicates the maturity of the Indian Fintech sector.
  • The growing number of “Unicorns”: Until 2017, the Paytm was the only so-called “unicorn” company from Fintech sector. By 2019, the list of coveted companies from Fintech got longer with BillDesk, PolicyBazaar and PineLabs. Now, Fintech has the most number of “unicorn” companies beating the e-commerce sector.
  • The increased Quantum of investments: There has been a massive jump in the quantum of investments. Between 2016 and 2018, the number of series A deals grew 12.5%. But the deal size grew from $64 million to $146.8 million, a growth of 129 percentage. The growth of Series C deal size for the same period was a whopping 270%.
  • Opportunities in the Lending sector: Lending has remained to be the biggest attraction for investors in Fintech. Almost half of the equity funds were invested in startups focused on lending. With huge numbers of untouched markets lying beyond the Tier I and Tier II, lending startups have a great future in India.

With the internet connection being more accessible and government supporting the digitization of the economy, there is no doubt about the opportunities lying ahead in India for the Fintech. Hence, the large investments made in this sector are clearly no wonder and it will probably continue for the next few years.

Fintech Will Make You Tons Of Cash. Here’s How!

Posted on by Imarticus Learning
Reading Time: 3 minutes

It is often said that, “Wealthy is a man who knows how to invest”. In today’s time, it cannot be more relevant! As many prices soar higher, we look at more ways of getting richer. It’s not just a job that can provide us the financial resources. Investing is a formidable option to make those extra bucks! Who says investing is only for the affluent? Read on and be amazed!
In today’s time, investing has gone digital. With disruptive technologies like blockchain technology, cryptocurrency is the new money mine that you may be looking for!
Fintech, a game-changer in financial transactions and services, is the umbrella of all financial technologies that carry out financial operations, seamlessly over the internet.
Thanks to blockchain technology, investing in shares online is a safe and reliable option.
The blockchain technology makes use of the concept of a chain of blocks that are made available like that of a public spreadsheet, which can be accessed from any device. The blocks are all inter-related and the chain updates itself automatically, every ten minutes. The system is very robust and transparent. It is used by BitCoin, a cryptocurrency. A ‘cryptocurrency’ is ‘encrypted’ for protection and can be thought of as value or money that we transact online.
If used well, Fintech will make you rich. Here’s how!
Fintech, short for financial technology, is a new haven for investors and venture capitalists alike.
Using financial technology that is innovative and robust helps investors keep track of their shares effectively. We now have robo-advisors that are ready to give seasoned advice on investments, using specialized, high- speed and accurate algorithms.
There are plenty of applications that help in fetching data real-time, calculating and assessing the market and its potential.  Artificial intelligence, deep learning and data analytics power fintech into a hot spot for investments.
There are potentially big opportunities that fintech courses has to offer. There are large areas untouched by it, which can create a demand in the future. As more emphasis is laid on customer experience and ease of use, the industry is poised to grow elegantly and reach as many users as possible.

 

The payment sector is ever growing and investing here is a very safe option with reliable returns. The sector is expected to grow further. One can also invest in the mobile and internet banking sector as this area has a huge potential, especially since, in many developing countries people are moving towards fintech. Yet another area swept away by the charm of fintech, is the insurance sector.
It is an always in-demand market with no potential pitfalls. Customers meet their insurance needs easily and get instant risk and crisis management advice. Not only this, but even the traditional financial institutions like the banks and willing to collaborate with the financial technology industry. So, it’s a win – win situation! Being a shareholder or having equity in early-stage start-ups is a good idea too! It’s a thriving international market. After all, you invest in ideas and talent.
Marketplace peer to peer lending is very popular these days. One can make money by lending funds in the marketplace. And plenty of companies are raising money through crowdfunding for social causes.
India is not too far in catching up with this bandwagon. Hundreds of startups and even the big companies are working towards changing the landscape of finance and giving the economy a huge impetus, at the very centre of the financial ecosystem. ‘IndiaStack’, a set of APIs provides an opportunity for both government and businesses to build tech products enabling smooth payments services.
The Unified Payments Interface (UPI), a payment system that is part of IndiaStack is used for instant fund transfer over mobiles. Even WhatsApp and TrueCaller are all set to become platforms for lending and borrowing instant money.  All this points to a rich ecosystem of financial technology investment in India. Go ahead! Happy investing!

Starting a Blockchain Career Without The Prior Knowledge of Programming!!

Posted on by Imarticus Learning
Reading Time: 2 minutes

In simple words, blockchain is the system in which the transactions that are made in bitcoin or other cryptocurrencies. These transactions are recorded and are saved across several computers simultaneously making it difficult for the hackers to mess with any of the records as there is no centralized information.
Recently the requirements for blockchain developers and blockchain experts have increased globally. So does blockchain holds an excellent career opportunity for someone who does not have any background in the programming area? Yes, it does. Like one doesn’t need to learn about the entire working of the computer to work on it, the same way one does not need to know the programming of blockchain to work on it. But a basic knowledge on the subject can help one to grow further.
Imarticus Learning is one of the leading institutes in the country that provides the student with an in-depth knowledge of the blockchain technology including its architecture, applications. They also offer the students with the real world projects helping them in having hands-on experience in the technology.
Blockchain relies on the concept that the data and the record of the transaction shall be available across the server without the availability of specific functions that can help make the changes in the record. The record called ‘blocks’ holds the information like the number of transactions, sender and receiver, timestamp etc. Blockchain has been recognized globally as the safest way to transfer money and bitcoin is a widely used application used for the same.
Even if you have no programming background, the training will provide you with everything you will need for the blockchain. With the fintech training and certification, one can increase their career scope and graph in the area of technology that is growing every day and is here to stay for a long time.
The world is moving towards the digital transaction of money, and there is less involvement of actual money for transactions these days. The demand for the safer means for the same is growing by the day. Blockchain provides the means where the data recorded is difficult to alter.
There is a considerable demand for blockchain developer, analyst, consultant, and engineers, broadening the scope for the individuals trained in the blockchain. Reducing human errors when it comes to dealing with finances is the prime concern and blockchain helps one to open various doors.
The e-wallets are the prime example of the blockchain. If you are a programmer, a developer or a businessman who intends to get into the blockchain by starting a company or by being a part of a company that works on the blockchain, the basic knowledge is necessary. The technology uses certain ‘words’ that one working on it must be aware of for the efficient results. Like every other language, the blockchain terminology is the eccentric part of the technology.
The career in blockchain gives one not only the clearer picture of what the technology is but also why it is the need for the digital world. Even though blockchain is a sophisticated technology that makes it difficult for the hackers or intruders to copy the information or even make any changes to it, its continuous need to make it even more impassable is imperative. The banks, who rely a lot on digital transactions, cannot afford to have any information being accessed or made changes to without the permission from the owner.

Demystifying Regtech in Fintech

Posted on by Imarticus Learning
Reading Time: 2 minutes

 

Often asked questions today are “What is RegTech and why is it so important”? Let’s explore. 


Coined from two separate words Regulatory and Technology, RegTech has evolved to be the latest buzzword in the Fintech sector. With financial transactions being subjected to fraud and cyber crimes, transparency in financial transactions, KYC norms, full-disclosure and such regulations have become mandatory. The huge plus has been solutions that are integrate-able, cost-effective, secure, reduce risks, meet RegTech standards and work efficiently on cloud-based peer-to-peer networks.

Fintech companies have and can produce such solutions, which is why they are being openly encouraged and incentivised. The blockchain-technology adoption added business value to most financial sector fintech startups and solutions while giving cryptocurrencies huge success by making financial transactions completely recorded, secure and transparent. Cryptocurrencies though steady have no takers among the investors at the moment. The technology though was quickly adapted and adopted to build various applications for the fintech, banking, insurance, health, construction and other industrial sectors.

With blockchain technology-based apps other payment platforms using mobile transactions, digital payments, online banking and such are thriving investment opportunities. Most angel investors are looking at partnering opportunities with those going into disrupt. The SME sector and back-end operational efficiency solutions are also a thrust area that is set to grow and is incentivised as it creates employment, industrial and economic growth. These contribute to the popularity and growth of the Fintech RegTech startups. Most importantly, regulation and compliance measures saw the emergence of regulatory and technology-based blockchain solutions which rapidly evolved as market-leader in a mere 3 years. And for good reasons too!

Investments in RegTech in 2018  

RegTech allows proactive-management which leads to better compliance and savings in penalties and fees. Automation also allows long-term returns in terms of cost-savings, increased efficiency and productivity and compliance control management. Thus financial institutions can concentrate on core businesses and service customers better.

Financial institutions have to and continue investing in RegTech solutions with governing policies and watchdogs making compliance and regulations stricter by the day. To keep costs of risk mitigation and follow protocols of compliance at the least possible costs, banks look to the RegTech sector for updated and effective solutions.

Northwest Journal of International Law and Business claims 200 billion USD in penal fees was levied for non-compliance. Misinterpretation and human-errors are another source of concern and attract hefty penalties for ever-evolving and changing compliance norms.

Financial solutions and firms are placing hands-to-the-deck to keep abreast of changes in compliance and regulatory measures. Citi Bank recently added 30,000 dedicated staff for compliance management. Obviously, the RegTech sector has immense potential at the moment and is set to be around 120 billion USD as per a report from Reuters.

Global trends in RegTech – France and Switzerland

According to a Reuters report, the current value is about 2,321.5 million USD and expected to reach 7,207.6 million USD in 2023. The segment solutions include reporting, compliance management, risk and identity-management.

The RegTech boom in France and Switzerland which are both from the European bloc results from mandates and directives in GDPR regulations, risk compliance, data-protection and transparency in financial transactions. Many financial institutions in a bid to defer infrastructure and hardware costs use cloud-deployment for SaaS with a fixed subscription and per-usage basis. Most vendors of RegTech solutions have also tied-up with GRC vendors for enhanced client and market-reach. This is a global trend across developing countries too.

To conclude, there appears to be no stopping the RegTech sector.