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Tag: Fintech Certification

Smart Contracts: The Future of Contracts and Business Deals

Posted on by Imarticus Learning

Ever since the inception of blockchain technology, it has revolutionised the world of finance, through many implementations, the most prominent of them being smart contracts.

With opportunities for streamlining any kind of financial transaction, these self-executing immutable contracts have established a new horizon in financial technology or fintech.

If you would like to learn more about how smart contracts work, you can consider taking up financial technology classes that specialise on Blockchain and smart contracts.

How Do Smart Contracts Work?

The term “smart contracts” was first developed by Nick Szabo in 1994 to materialise the concept of a contractual agreement where the involvement of any third party or even the government could be eliminated. A smart contract comprises a code written on a blockchain network based on conditional statements such as “If…then” or “When…then”.

Such conditional statements work as terms and conditions of the contract which the parties have to mutually agree upon. It is entirely up to the involved parties to determine how the data of the transaction will get represented, as well as to set a mechanism in place in the contract for resolving disputes.

Necessity of Smart Contracts

As opposed to contracts formulated on paper, which are quite cumbersome, smart contracts simplify business and increase efficiency. Their immense potential in revolutionising the sector of online businesses can be made possible by smart contracts because they can circumvent the complications of the traditional law for contracts.

Since smart contracts are based on blockchain technology, they are immune to any unwarranted alterations. The impregnable ledgers ensure that the number of parties involved in signing the contract is minimum, and that they have constant access to their assets. Smart Contracts are also time efficient considering that their real-time execution reflects the changes for all the stakeholders simultaneously.

Smart Contracts: Applications

Irrespective of the financial situation, smart contracts can help establish a sense of trust between two parties involved in a transaction. Multiple smart contracts are combined together to create an ecosystem in blockchain networks where many decentralised apps are designed for gaming, trading and exchanging of digital assets, and media. Here are some of the real-life situations where smart contracts are beneficial, and help shape emerging technology:

Gaming and NFT

Non-fungible tokens, or NFTs as we know them, are digital objects representing some or other aspect of the game in blockchain networks. The unique layout and the rarity of these tokens, along with their indivisible nature make them highly sought-after assets in the gaming world.

The transactions of NFTs in blockchain-oriented games are based on smart contracts, whereby you can store items purchased within the game, exchange them for a fee with other players, and even shift the NFTs to another gaming ecosystem, and the immutability of the NFT expands its value beyond the game it originated in.

Artificial Intelligence

Smart contracts can help further the cause of Artificial Intelligence and machine learning and vice versa. Combining the immutable and decentralised protection features of smart contracts with the data-processing feature of AI, programmers can create smart contracts enabled by AI. Using the technology of smart contracts, AI can independently execute its rules and regulations as well as ensure that the data meant for processing is stored in a secure environment

Healthcare

To ensure that sharing of patient information happens in a secure and safe manner, healthcare industries are increasingly adopting smart contracts into their system. For instance, automated payments of healthcare charges via smart contracts can help eliminate the possibility of overcharging.

Real estate

Smart contracts are increasingly replacing conventional legal agreements as a more viable option. It eliminates the necessity of having intermediaries like lawyers and brokers, paying whom can lead to hefty expenses, through automation. Drafting of documents and their verifications, or sanctioning mortgages can now be done via a code segment, with better data security.

Supply chains

Since smart contracts are known for transparent transactions without the interference of multiple hierarchical organisations, they can be particularly useful in complex chains of import and export. Using Internet of Things (IoT), information can be sent to the blockchain network, prompting the coded execution of events in the smart contract.

Protection of intellectual property rights

Smart contracts are also beneficial in protecting the copyright information of the creator or owner of a product. Upon purchase of a product, the code mentioning disbursement of royalties gets executed, thus outlining clarity regarding ownership and payment.

Advantages of Using Smart Contracts

Transparent mechanism

Since smart contracts function on the blockchain network, the records or documents of the executed transaction would be immutable and always available. Any chance of ambiguity that might be found in paperwork gets eliminated in smart contracts.

Independent operations

Contrary to conventional contracts being mediated and supervised by third-party agencies and individuals, smart contracts get done by the blockchain network, involving only two parties who would be signing the agreement.
Automation and efficiency

Code-operated contracts mean that the terms and conditions laid out in the said code would be automatically executed, then validating the smart contract. The entire process happens at a much higher speed than manual execution.

Cost-saving

Since third-party contacts or intermediaries are not required when executing a smart contract, the involved parties can reduce their expenses to a significant extent. This feature of smart contracts is especially beneficial in real estate and money-lending businesses.

Conclusion

Since smart contracts are codes compiled by human programmers, the possibility of error cannot be completely minimised. In that case, Artificial Intelligence can help eliminate such chances of errors.

Furthermore, the amount of transparency involved in formulating smart contracts, especially in maintaining documentation is making them increasingly popular in the fintech industry. The problem of data breaches that made consumers resist digital transactions is removed by the data security mechanism of smart contracts.

If you are planning to have a career in fintech and smart contracts, then the fintech certification course offered by Imarticus Learning will be really beneficial for you and open up dynamic employment prospects.

What to Know About Cryptocurrency?

Posted on by Imarticus Learning

With everything becoming dependent on technology, why not money? Monetary transactions have slowly gone digital too. With this form of digitalization, cryptocurrency was also developed which evolved into a medium of exchange.

Bitcoin became the first cryptocurrency that began back in 2009. Now, businesses are looking towards this exchange medium, with the likes of Elon Musk investing $1.5 billion in Bitcoin. Hence, it would be wise to know what cryptocurrency is and why it has already taken the world by storm.

What is cryptocurrency?

The meaning of cryptocurrency lies in its name itself. It is a kind of digital currency that is encrypted for security purposes. As it is encrypted, it becomes impossible to counterfeit like real money or even hack virtually. It comes in the form of digital coins and tokens that one can buy with real money.

Or, if someone has the expertise in technology, they can ‘mine’ it for themselves via a strong graphics processing unit (GPU).

CryptocurrencyMost of the cryptocurrencies use Blockchain technology, which is decentralized and records transactions among computers. Cryptocurrencies are mainly used for trade finance. People usually use it to buy goods and services for many beneficial reasons.

Different types of cryptocurrencies

Bitcoin is the most popular among all cryptocurrencies and currently, there are at least 18.5 million tokens being used. Besides Bitcoin, there are more than 6,700 kinds of cryptocurrencies being used in the market nowadays. And, some of them are:

Ethereum: Ethereum uses a token named Ether and it mainly promotes free access. But mostly, it is for developers to get rid of middlemen and control their apps.

Litecoin: Litecoin was created in the light of Bitcoin to improve upon it. It is basically the same as Bitcoin other than faster time for transactions and a few more benefits.

Stellar: Stellar’s currency is Lumen and its uniqueness lies in people being able to transact between different countries. Also, huge transactions can be made with little to no hassle.

How to buy cryptocurrencies?

If someone wants to buy some cryptocurrencies for themselves, they will need an app where they can hold the currency like a ‘wallet’. Then, they can create an account and transfer real money to buy cryptocurrencies. Some online brokers are also selling cryptocurrencies. Notably, the exchange rate for cryptocurrencies can fluctuate at any time due to its decentralized nature.

BitcoinFurther, cryptocurrencies are very much transparent. They have zero possibility of being stolen. The transactions can also be quicker and made with minimal transaction fees compared to banks or other financial organizations, which makes trade finance a much easier process.

By and large, cryptocurrencies are a little risky but as online transactions are increasing day by day, their importance is increasing too. One should only go along with purchasing cryptocurrencies with their advantages and risks all in mind.

Ethereum Vs. Ethereum Classic: Differences You Should Know About!

Posted on by Imarticus Learning

If you have been following the developments in cryptocurrency or planning to enrol for an Ethereum course, there is a very less chance that you have not heard about the Ethereum Vs. Ethereum Classic discourse. The hard fork that led to the creation of a new chain was a result of a huge attack on the Decentralized Autonomous Organization (DAO), a venture capital fund that was created to decentralize the cryptocurrency transactions and to automate the functions. The DAO was developed on the Ethereum platform.

This smart contract automates the cryptocurrency transactions based on a set of pre-determined conditions. Everything was working smoothly until the notorious attack on DAO happened in 2016, stealing $50 million, leaving the traders in absolute shock. Though the incident happened because of a fault in the structure of DAO, it sparked a lot of debates and eventually, resulted in a hard fork. Thus, the Ethereum was split into two branches. While the new branch retained the name Ethereum, the old one took up a new name, Ethereum Classic.

Now that you have an overview of what is what, let us look into some fundamental differences between Ethereum and Ethereum Classic.

Difference Between Ethereum and Ethereum Classic

The proposal for a hard fork sparked an ideological difference, as many people believed that the new chain challenged the fundamental idea of the Ethereum being immutable. Both Ethereum and Ethereum Classic share some functional similarities. However, there are some fundamental differences that set them apart. There are marked differences in some of the main features, but the more striking ones appear on the philosophical and moral aspects. Lets us look at the differences one by one.

Differences in Philosophy

One of the founding ideas of blockchain was that it should be immutable. This is because the supporters believe that if a blockchain allows people to make changes according to their wish, that could lead to fraud. However, the new branch, Ethereum, does not advocate that. The Ethereum community members believed that a hard fork is necessary to serve justice.  Ethereum devalued the stolen tokens and refunded those who had invested in those Ethers.

Differences in Value

Ethereum values almost 15 times than the Ethereum Classic. This is because Ethereum successfully garnered the support of many leading names in the crypto community. Also, it receives regular updates. Ethereum Classic has a lesser value compared to Ethereum, but recently, it managed to attract the backing of some prominent names.

Enterprise Ethereum Alliance (EEA) is a support group formed by more than 200 market leaders such as Microsoft, Wipro, Intel, Accenture, JP Morgan, Thomson Reuters, Credit Suisse along with many start-ups and subject matter experts. They are all bound by a common factor; all of them believe in the potential of blockchain.

Differences in Potential and Features

The growth potential of Ethereum Classic is debatable. On the contrary, Ethereum is looking at a promising future. Looking at its rapid growth, experts are postulating that Ethereum could become the first cryptocurrency to reach the $10,000 mark after Bitcoin. Ethereum enjoys a higher hash rate than Ethereum Classic. As mentioned earlier, Ethereum keeps updating on a regular basis, but Ethereum Classic cannot access those updates.

There is a surge in the carer opportunities related to Blockchain. Needless to say, the technology industry has undergone tremendous change after the introduction of blockchain. Many fortune-500 companies are coming forward to espouse blockchain to support their growth. This underlines the career potential of blockchain and Ethereum, which is largely untapped. Check out the Ethereum courses offered by Imarticus if you are looking for a good Ethereum training in Fintech.

Keen to Know What Transitions a Fintech Aspirant to a Fintech Expert? Check This Out!

Posted on by Imarticus Learning

Financial services have experienced a major paradigm shift due to the introduction of fintech. Digital banks are replacing traditional ways of accessing financial services. The current fintech market in India is more than 1,900 billion and will grow with an impressive CAGR in the coming years.

There are a lot of job opportunities in the fintech sector and you can build a successful career in fintech by choosing the right career path. Read on to know more about the transitions required to become a fintech expert.

 Get the Right Education

A bachelor’s degree in mathematics or computer is the best to get into the fintech industry. Many fintech aspirants also have degrees in business, accounting, economics, etc. Getting a degree will not teach you about the working of the fintech industry but it will help you in developing an analytical & statistical mind.

Many fintech aspirants also prefer to get a master’s degree for opting for senior job roles in the fintech industry. One should also try to be updated with the modern-day technologies used in the fintech industry. AI (Artificial Intelligence), ML (Machine Learning), deep learning, etc. are used widely to improve fintech solutions.

A technical degree with Fintech Course as a specialization will also help you in getting into the fintech industry. Along with getting a degree, you can also opt for internships, sponsored/individual projects, workshops, etc. in fintech for boosting your knowledge.

Fintech TrainingYou can target any particular job role in the fintech industry based on your skillset. There are many types of job roles in the fintech industry like a compliance expert, cybersecurity expert, data scientist, financial analyst, etc.

Acquire Necessary Skills

You will require several technical & non-technical skills to become a fintech expert which is as follows:

  • You should have good problem-solving skills to create better ways of providing financial services to people with the aid of technology.
  • You should have good analytical skills to draw conclusions and to analyze various solutions.
  • Good programming skills are required to become a fintech expert. Programming languages like C#, C++, Java, Python, SQL, etc. are widely used in the fintech industry. You should also be aware of the databases used in the fintech industry.
  • You also should have good financial skills to become an expert. You should be able to read & analyze financial statements & reports for creating better financial services.
  • You should know about the applications/tools used in the fintech industry know about the practices involved in the fintech industry. You should also be familiar with the latest technologies like AI, blockchain, etc. used in the fintech industry.
  • You will also have to possess some soft skills like collaborative skills, communication skills, adaptability, etc. to thrive in the fintech sector.

 Get the Right Certification Course

Besides getting a degree in the related field, you will need to get a certification in fintech from a reliable source to know about the working methodology of the fintech sector. Imarticus Learning is a reliable source that provides you an online Professional Certification in FinTech course. This course by Imarticus Learning is associated with the SP Jain School of Global Management. You will get to learn via an industry-first approach and will get to study real-life case studies.

This course touches on many aspects/processes involved in the fintech industry like payments & lending, API, RPA (Robotic Process Automation), cryptocurrency management, blockchain, etc. You can choose from the Core Modules (for broad coverage) & PRO Modules (for in-depth coverage) of the aforementioned course.

Imarticus also provides several other courses like Pro Degree in Financial Analysis & PG Program in Finance and Accounts to know more about the financial services/industry. The Project: Paradigm Shift provided by the fintech course will help you in creating/transforming business ideas.

Conclusion

Personal capabilities are the main factor for upskilling in any industry. You will only end up working smartly if you follow the right career path. You will get to work on various projects by opting for the fintech course provided by Imarticus Learning.

It provides an excellent practical environment to implement the things learned in the course. Expert faculties which are associated with reputed firms/institutions will be teaching you if you opt for Imarticus courses. Start your fintech course now!

 

A New Era of Fintech With Customer Engagement!

Posted on by Imarticus Learning

The term fintech is an amalgamation of finance and technology. Thus, when financial institutions use technology to offer financial services, it reflects the fintech course of functionality. According to EY Global Fintech Adoption Index, India has the quickest growing fintech market with an 87% adoption rate. Other countries have an average of 64%, which is comparatively lower.

Recently, RBI shifted focus towards fintech industries by creating a special department that only caters to this. By 2026, the digital payment market is estimated to reach $10.7 trillion and make the economy cash-free. Policymakers are making online payments safer to build trust among customers.

How is India growing the fintech course?

The most trustable financial institutions are banks. Thus, when banks collaborate with growing fintech companies, customers are more likely to trust them too. Many growing companies in this niche approach banks to work hand in hand. If approved, they have a massive consumer base to expand their market. Moreover, when banks collaborate with such financial institutions, their joint expertise can make customers’ lives easier.

Secure digital payments

Due to strict guidelines set by the Reserve Bank of India (RBI), digitally running financial companies have to enable high security for payment processes.

Secure digital paymentsThe most crucial part is keeping customer data safe. Cyber threats are constant challenges, so strengthening payment gateways is a priority.

The companies must create awareness to educate their customers about making safe digital payments. They must give details on how to protect their information. Moreover, doing this can make them more reliable for their customers.

Tech providers use API-based systems to ensure complete security. They incorporate features like tokenization, risk-based authentication, and interceptors to maximize safety. These features safeguard customer’s personal information from cyber threats. As India is rapidly growing in terms of digital payments, such security measures need to work efficiently.

Increasing digital transactions for rural areas

Since the pandemic began, people became a lot more conscious about payments. More and more like to use payment wallets instead of carrying cash or cards, to limit touch. However, India’s rural areas still prefer dealing with cash instead of digital modes and depend on local banks for their regular financial requirements. Some of the crucial reasons behind these are:

  •       Lack of education and technical know-how
  •       Limited digital infrastructure
  •       Fewer merchants using digital methods to accept payments

In such a situation, fintech companies can play a significant role by associating with local banks.

Increasing digital transactions for rural areasThey can provide infrastructure for digital payments and increase awareness among rural consumers to build their trust.

The co-operative financial institutions can help merchants incorporate online payments in such places. They also need to widen possibilities by educating them about offline payment solutions like QR codes and PIN. Such features can work in areas with poor internet connectivity. Thus, these measures can help co-operative banks upgrade faster and offer complete security.

Modern banking improves experiences for end-users

Just how digitalization makes things easier and quicker, customers expect financial institutions to keep up with the pace. As a customer, you will want the fintech course to be personalized and hassle-free.

Fintech CoursesOn one hand, RBI makes sure that digital payments became more secure and keeps fraudsters away. On the other hand, finance companies strengthen their technology base to provide seamless solutions.

With artificial intelligence, machine learning, and Big Data, the companies understand their customers closely. They can serve them in real-time and offer instant solutions.

With robust API solutions and top-notch security, the financial institutions aim to provide a high success rate for online payments. Thus, these measures will enhance customer experience and make money management more effortless.

 

How Fintech Moved Successfully from Normal to Pandemic New Normal?

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Fintech was expected to earn great profits in the year 2020. Unexpectedly, due to global pandemic, a paradigm shift could be seen in the functioning of fintech all over the globe.

Although it hasn’t been an easy task for many companies to survive in these testing times, the brighter side shows that for some industries, this scenario has proven to be a bit beneficial.

Unlike other sectors or industries where daily operations used to take place manually, fintech is web-based and does not require any physical interaction. This has been the sole reason that has worked in the favour of fintech in such challenging times.

The successful shift of fintech during the new normal

There are specifically some sectors where fintech operations have accelerated. Some of the positives are discussed below:

  • Continual functioning of Banking Sector

Out of all the industries, banking has been the only one that functioned without any disruption. However tough the times were, banks functioned and transactions took place.

Banking and FinanceIt has widely been seen that people have very positively accepted fintech as their new normal. Unlike the usual times where people used to visit banks for even their balance inquiries, people nowadays have gained trust in the applications and portals under fintech.

Some companies worked without involving cash transactions and only accepted digital money. Usage of portals like PayPal gained popularity during the pandemic.

  • Ease in Regulations

This time has proven somewhat beneficial for fintech as there are many organizations which have adopted the policy of cashless transactions. Considering this, the government and the authorities may lower the regulations that are imposed on the fintech companies for their collaboration with these aspiring organizations.

By working hand in hand, directly or indirectly there is going to be a surge in the usage of fintech tools.

  • Retaining Cash

Considering the current scenario, people have nurtured the habit of keeping cash reserves with them. In such a situation, they tend to make use of fintech companies whether they are in favour of it or not.

banking and FinanceTo illustrate, earlier many amazon orders were booked with cash on delivery but people want to have their limited cash reserves with them and hence are paying online.

  • Dip in the number of lenders

Owing to coronavirus widespread, many money lending companies have restricted the lending capacity considering the current scenario of non-payment by the existing borrowers. They claim to restart lending activities with the uplifting of the coronavirus restrictions. In such a situation, fintech corporations are still operating widely in the market and people can borrow some money using fintech.

Not only the money, but fintech has also collaborated with various big and small companies for providing emergency and necessity items to the people. People, on the other hand, have accepted the involvement of fintech corporations in their day to day operations and they are satisfied by that to a great extent too.

Conclusion 

With a great demand for fintech in the present world, a stable and rewarding fintech career can be planned by gaining professional knowledge and fintech training through renowned institutions like Imarticus. One must always grab the opportunity as it comes your way.

Is Working from Home Fintech’s ‘New Normal’?

Posted on by Imarticus Learning

Many organizations had not even imagined about running a business with their employees working remotely from the convenience of their homes. Work from home was considered as a privilege to selected profiles at unavoidable circumstances.

Yet, it was looked down as a less productive arrangement as the employers presumed many household distractions that could hamper the productivity of the employee. However, there is a tectonic shift in these concepts after the COVID-19 hit the world.

Many weeks into the remote working arrangement, companies have started to realize that they can maintain productivity with their employees working from home. The perception that employees would relax at home while working from home rather than concentrating on their work has completely changed. This could bring a major shift in the structure and design of fintech courses in the future.

Benefits of Working Remotely

The most noticeable benefit is that the remote working arrangement is that companies can access talents from different geographical regions. Companies have started thinking that they don’t want to restrict their talent pool to any specific geographical area. This could be highly motivating to those who are planning to enrol in a fintech course.

Many companies have felt that their employees are working dedicatedly even while working remotely. The fact that even many weeks into the lockdown, there isn’t any drop in productivity. This has led to many companies now willing to test this model going forward, even after the lockdown. This arrangement has shown to improve the morale and motivation of the employees.

Tools Required for Remote Working

Companies have started using digital tools to create a virtual work environment. The teams are staying connected with tools like Zoom and Slack for video meetings and communications respectively. Many companies have enabled SSL VPN to ensure a secure network. Other popular tools are Hangout, Microsoft Teams, Trello and Google Docs.

Challenges of Remote Working

The data protection is the biggest challenges faced by organizations. They are not encouraging employees to store data locally. Small fintech might find it still feasible to provide work from home facilities to their employees; big organizations with hundreds of employees or more are still working out their ways to cope with this new arrangement. They are looking at cloud-based solutions to ensure a seamless transition of office model to work from home arrangement. If remote working becomes a new normal, this could be an area of focus for fintech courses.

Dealing with cyber fraud and malicious acts remain a serious concern for many fintech and banks. This has led to many fintech companies considering investing in reliable cybersecurity tools.

Many companies have introduced working with calendar system to ensure transparency and to know how their employees are spending their days and what are they working on at a given point in time. This will also help companies to monitor how long an employee takes to finish an assigned task. This has helped increase productivity. Daily, weekly, and monthly updates are also helpful to monitor the team output.

In some ways, remote working is benefiting the fintech. Many banks have now come forward to join hands with fintech companies to partner with them at different stages of the customer journey. They are actively looking to shift their non-branch-based functions to remote workplaces.

Along with employees, fintech companies must take care of the needs and convenience of their customers as well. Many fintech companies have created lighter versions of their tech services so that their customers can use them on lower bandwidth.

Conclusion

Fintech companies can implement seamless working from home arrangements with effective communication and with collaboration tools. Many companies have already found a workaround to facilitate remote working for a longer period. Many have said that they would consider moving a higher percentage of their workforce to remote working post-lockdown. However, it is too early to comment if work from home will be the new norm. However, many companies are planning to keep this as a possibility, even though it greatly depends upon the government rules.

What Projects are Included in the Blockchain Training Course?

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What Projects are Included in the Blockchain Training Course?

Popularized by the Bitcoin cryptocurrency platform, blockchain has been making the rounds recently. Introduced as a triple ledger system for the administration of Bitcoin cryptocurrency, blockchain is now being applied to all aspects of a business.

Many students and professionals are aspiring for a lucrative career in blockchain. With a high potential to change how business is executed, there is a surge of interest towards blockchain in recent days and many institutes in India offer blockchain training courses.

Projects in Blockchain Training Courses

A blockchain training course offers real-time, real-world, industry-based projects.

Most of the projects teach you how to develop a blockchain, deploy cryptocurrency on the blockchain that has been developed, and how to set up an ICO on the cryptocurrency.

Listed below are examples of some industry-based projects offered in a Blockchain training course:

  • Project for Verification of User Identity

This is a project where you learn to develop a smart contract to verify the identity of the user before allowing to access the application.

  • Project for Finance Company Business Network

This project helps you understand how to use Hyperledger Composer to create a business network for a finance company, to test it and to place it on a cloud platform like IBM Bluemix.

  • Project for Healthcare Insurance

This project is designed to help you understand how to use blockchain to automate the processes in the health insurance domain and to improve it. You will learn to develop a business network that aids the patients to opt for health insurance from the health insurance provider.

  • Project for Rating Movies

Blockchain can be used in the entertainment industry too. This project teaches you to create an application and create a smart contract for a decentralized movie rating. You will also learn to test the application on a local blockchain network.

  • Project for Banking

This project demonstrates how blockchain is used in a banking application. In this project, you will create a simple smart contract for a bank that allows the customers to perform bank transactions such as depositing money into the bank account, withdrawing money from the account, checking the account balance, and deploying it on a test net-like Ropsten network.

  • Project to Create a Network for Animal Tracking

You can have a blockchain career in the farming industry as well. This project is to help the farming regulatory body to create a network that helps track the animals on the farm and the movements of animals between farms.

  •  Project for developing a Smart Contract to Design a Digital Token

This is to help you learn how blockchain is used in the financial industry. You will be assigned to design your own digital token that can be utilized as an asset, currency or share and to develop a smart contract to issue it.

  • Project for a Decentralized Marketplace

The challenge is to create a smart contract that helps avoid the issues of the centralized markets and to develop a decentralized marketplace application.

  •  Project for a Multichain Stock Exchange

In this project, you will bring in optimization to the stock exchange which is otherwise expensive and centralized. The solution is to create a stock exchange model that helps to decentralize and simplify the multichain system and to make it faster, secure and transparent.

Conclusion

The projects mentioned above are some examples to understand how blockchain can be used for different industries. While some courses give you specific industry-based projects, some allow you to use your imagination and knowledge to come up with new ideas. The essence is that if you aspire for a blockchain career, you need to understand how blockchain works and how you can incorporate it into different industries.

 

How Fintech is Transforming The Financial Industry?

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How Fintech is Transforming The Financial Industry?

The digital industry has made huge advancements in the last two decades. Now, every industry is using these new technologies to integrate their process with highly sophisticated systems to get better results. Even in the Financial Industry, we are seeing a huge shift in the use of smartphones and PCs for banking, investment and even digital currencies such as cryptocurrencies.

Fintech, short for Financial Technologies, are the latest changes and enhancements offered to the customer to ease their financial services. In India, a country with a billion people, these financial changes have resulted in better customer experiences altogether.

International-level Fintech Courses are offered at Imarticus Learning for students to have rich experience in this new style of banking. The staff uses the latest curriculum to offer their expertise and build a strong foundation for students in this comprehensive financial course.

Many companies have come up with unique products like mobile wallets, cash cards, etc, where consumers don’t need to carry cash to buy things. Consumers can easily send a digital confirmation of sending money to merchants rather than sending paper money. Even the Indian government has offered its support with the emergence of UPI (Unique Payment Interface), an instant real-time payment system which allows the direct bank to merchant transactions using their personalized credentials and an internet-accessible device.

Now stock markets are accessible to internet-based devices. Investors can trade online using these sophisticated platforms smoothly. They can observe the behaviours of the foreign exchange in keeping with their investment to make changes with just clicks on their smart devices. Custom alerts are there as notifications for your specific funds and stocks. Now, robot advisors provide investment assistance using machine learning algorithms with minimal human intervention. Consumers with little or no information about the market funds use these automated systems for assisting them for building their investment portfolios.

Fintech is also quite helpful in assessing underserved customers and small businesses with effective financial services. Automated offers are generated to these customers for affordable loans, keeping the costs for loan processing to a minimum. This was possible only with the analysis of large data using machine learning programs to find consumers with positive activities. Fintech training is now a prerequisite for modern professionals for applying for the best jobs in the financial sector.

The e-commerce industry has gained the most with consumers now using online activities for checking and buying through an online payment gateway. Debit cards, credit cards, and electronic wallets have eased the process of financial transactions. Consumers get an OTP message for each transaction they carry out on their devices keeping a double check on their financial activities. With Fintech in the future, consumer fingerprints and unique eye retinas can further increase the speed of verification.

The International Monetary Fund(IMF) and the World Bank have collectively presented Bali FinTech Agenda on October 11, 2018, consisting of 12 specific policy elements as government guidelines and guidelines to central bank authorities to apply rapid advances in financial technology.

These Fintech Courses are the need of the day. Top finance companies are now hiring individuals with skills and experience in these new technologies, they are better equipped to understand these concepts and carry forward these changes to the future. Fintech has completely changed the way people used to do banking. It offers a unique experience for consumers to manage their financial transactions.

Imarticus Learning is a leading institute in real-time Fintech training for imparting education in this industry with the highest standards. Students who are interested to know more can contact Imarticus education counselors for more information.

How Blockchain Can Transform Our Economy and The Way We Do business In The Future?

Posted on by Imarticus Learning

 

In words of a techy, Blockchain is a decentralized electronic ledger system that creates secured transactional records using cryptography which is irreversible corruption thus putting a stop to malpractices of corruption. It can be used in any transaction involving money, property or other goods of value.

Blockchain is the latest transformational innovation using technology. The distributed ledger holds accountability on the user’s end and is spread amount a network of peers. The security of the blockchain lies in the architecture of the technology, spread across multiple users it’ almost impossible to hack as changes from anywhere around the world are updated based on the reach of the network.

In the most basic form blockchain technology can be explained as a medium to record economic transactions in a digitalized form using cryptography to secure the data and maintain transparency in the recording of the data for better accountability in the system. Blockchain is a democratized system in the purest sense.

The Blockchain Economy

The evolution of the economy has been beyond bounds, from the ancient period of barter systems to money as a mainstream method of exchange provides a snippet of this drastic transformation. Adding to this evolution is the latest trend of blockchain technology which has given a new method of exchange and fulfilling of transactions.

The latest version of the economy is impeccable in terms of having any external influences and corruption malpractices. The blockchain economy shows a promising future for the economy, unflawed by any one individual bringing more stability and accountability.

The center of attraction is the concept of using cryptocurrencies as a method of exchange for various transactions which were earlier facilitated through government-backed monetary authorities using their currencies.

Curbing out the middlemen from monetary transactions, blockchains aims to improve and reduce the cost of transactions for people using their cryptocurrencies. At the foundations of cryptocurrencies is the revolutionary blockchain technology.

To have in-depth knowledge about the blockchain economy one needs to understand their method of exchange, which is the cryptocurrency. Cryptocurrency is a type of digital asset that serves as a medium of exchange for financial transactions. Cryptocurrencies use blockchain technology to provide transparency and security for transactions of value. Shaping the era of capitalism, blockchain technology is the catalyst for this remarkable feat.

 Blockchain transforming the business

Now that we have made ourselves familiar with the blockchain technology and the economic model using this technology, let’s jump into the applications of the same!

In today’s scenario, evolution in the technological landscape causes a chain reaction in other industries. Almost every industry depends on high technology to conduct and improve its business. Better technology not only saves time and money but also helps to increase productivity and in turn profits for the capitalists which are the end-goal in the era of capitalism.

Blockchains are also referred to as ‘Smart Contracts’, Improvement in the enforcement of the contracts through blockchain is paramount. The contract is automatically enforced and since it requires the approval of all participants the rate of default is almost negligible. Failure to comply with the contract will lead to confiscation of the payment. Replacing the traditional methods of the contract the blockchain sets accountability into motion.

The majority of business houses rely on high technology in their operations given the value it adds to in terms of increasing efficiency and productivity. Cybercrimes are commonplace today and lead to a substantial loss of data and money given the importance of the data in the contemporary. Given the decentralized structure of storage in Blockchain, it provides a more reliable method of holding and securing important data. The information is stored in decentralized fragments making it hard to trace and hack.

Conclusion

With the emergence of cryptocurrencies and the revolutionary changes in the business landscape, the blockchain technology seems to be adding value everywhere given its decentralized and transparent functioning. The blockchain economy emphasizes on creating a more robust network and removing the arbitragers in majority segments who do not hold any intrinsic value but are only functioning due to the informational arbitrage in the economy. The technology also improves security and aims to reduce the cases of cyber crimes given its decentralized ledger construct.