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.
It 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.
To 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.
You been searching for the best Fintech course or the best Blockchain course online? Are you unable to find an interesting course that covers the fundamental concepts and at the same time, offer interesting placement opportunities? Then breathe a sigh of relief, you are at the right place! We are going to discuss the best courses among the two – Fintech and Blockchain. Fintech and blockchain are two popular interrelated concepts that offer lucrative career opportunities. The recent incidence of COVID-19 and its impact on the employment landscape has positively impacted Fintech. The fintech companies are now more willing to consider remote working as Have an option to reach out to new talent pool located miles away from them. This adds more employment opportunities in these domains and thus, more scope to fintech and blockchain courses. Imarticus has an exciting course to offer in Fintech and Blockchain. Let’s discuss that.
PRODEGREE Professional Certification in FinTech (Created in association with Barclays Mumbai)
Designed in association with Barclays Mumbai, this125-hour-long Prodegree Fintech course takes you to a world of opportunities. This is the best Blockchain course as far as the best content and training are concerned. Industry-relevant curriculum and placement partners make this a gamechanger for every learner. The learning process is designed through relevant case studies and capstone projects along with opportunities to interact with Fintech entrepreneurs and industry leaders.
How Good a Fintech Course is This?
• You will learn job-relevant skills like blockchain, ML, robotics and advanced analytics through projects – both industry projects and in-class projects
• You will be certified by Barclays Rise Mumbai initiative. Getting endorsed by a Fintech market leader will give you a competitive edge in the job market.
• You will receive an unparalleled learning experience through live instructions in a state-of-the-art virtual learning space.
How Good a Blockchain Course is This?
This course offers detailed training in blockchain. You will receive in-class training as well as industry training that will help you build blockchain skills. Three weeks blockchain deep dive is a major highlight of this program. You will learn both theory and practical during this session. By the end of the semester, you will master the basics of blockchain technology. You will know the practical application of blockchain-based systems across industries by mastering the development of blockchain framework and implementations. You will get to learn about Ethereum smart contacts, cryptocurrencies, advance concepts and implementations.
Benefits of this Course
• A globally recognized certification with an industry-oriented curriculum with the latest trends and best practices in fintech space.
• You will receive live training from fintech experts from Rise Mumbai and Imarticus.
• You will be getting an incredible opportunity to develop a business framework and to pitch your business idea. If qualified, you will be mentored by an expert.
• Identify areas and use cases for implementation and develop a framework and business model.
Prospective Job Roles
• Cybersecurity analyst
• Compliance expert
• Design thinking specialist
• Design thinking training provider
• Process automation lead development
• Robotic process automation project manager
• Bitcoin blockchain developer
• Bitcoin mining associate
• Process automation lead development
Placement Partners
• Reliance Capital
• Religare
• Axis Bank
• Bajaj Finserve
• Bank Bazar
• Bank of Baroda
• Larzen and Toubro
• Muthoot Finance
• ICICI Bank
• HDFC Bank
• Policy Bazaar
• Edel Weiss
Conclusion
Professional Certification in FinTech is the best course if you aspire a career in blockchain or fintech. The best part is that this is designed in association with Barclays Mumbai. 125-long-hours of rigorous training from this Imarticus will help you land on your dream job. You have access to an amazing alumni network and wonderful placement programme to help you with this.
Fintech is the short form used to denote the financial technology industry. The Fintech industry has revolutionised the traditional banking and finance industry by leveraging progressive technology to boost customer satisfaction. In the contemporary digital landscape, customers are more accustomed to using their smart devices for purchasing goods and services and thus making payments for the same.
The growth in online transactions as a result of booming e-commerce led to technological progress in the field of finance. Fintech is the amalgamation of finance and technology. It is the infusion of cutting-edge technology to solve the challenges faced by the traditional banking and financial services industry. Fintech is making the banking industry more efficient using tools like chatbots, mobile applications, UPI payments, etc. to improve customer satisfaction.
PayPal is a very relevant example to understand the Fintech domain. PayPal is a leading Fintech company that helps to facilitate personal and business transactions, payments and credit services online using the application or through its website. PayPal has an international presence and is valid across 200 countries worldwide and is accepted by millions of websites. It is also used for other transactions like online donations, fundraising, etc.
How Do I Learn Fintech?
Technology is touching all industries and transforming the way the world runs. Finance is one major industry which has made the best use of technology. The integration of Finance with Technology to bring in the required automation in the Finance sector is referred to as FinTech. FinTech is everywhere. It has enveloped us in a way that it has become a part of a modern man’s life. FinTech finds its use in various domains like Payment apps and even cryptocurrency!
FinTech is becoming a very popular field to work in. Learn FinTech if you have an interest in going into the field of Finance. To get insights into FinTech, one can start knowing about the major sub-topics which build the FinTech industry like lending, borrowing, working of blockchain and cryptocurrency, payments, etc. This will help you in analysing the underlying potential of the industry and also help you in understanding your interest areas in the particular domain.
Various online courses on FinTech are available on renowned online learning platforms. One can enrol in these short-term courses and start gaining perspective on the sub-topics. Also, you can network with people who are already a part of this industry. This will give you in-depth insights on FinTech and its subsidiaries.
What is FinTech Course?
FinTech is a popular term that is commonly used for Financial Technology. FinTech is any company that makes use of technology to deliver its services. It deals with multiple functions like managing cryptocurrency, payments, etc. FinTech makes it easy for consumers to manage their finances and also transact with ease.
With FinTech, the space of accessing finance has changed drastically. FinTech has brought about huge and major changes in the field of traditional finance and investments. FinTech provides modern tools that are disrupting the way consumers manage their finances. FinTech has demonstrated its utility in Crowdfunding platforms, Blockchain, Payments, Insurance, Robot-Advertising, Stock-Trading, Budgeting apps, etc.
The FinTech course is an introductory course that gives insights on FinTech and how technology is bringing about a major change in the field of Finance. FinTech courses are designed for Finance professionals who want to keep themselves at par with the industry and also for the newbies who are willing to join the Fintech or Finance industry.
FinTech courses are brought forward by various online learning platforms. They collaborate with industry experts and professors of renowned Universities to compile the best material on FinTech and its subsidiaries. These courses also provide multiple certifications which can help in increasing your credibility in the field.
What Is the Blockchain Course?
Blockchain is a list of transactions which are stored on any network and can be accessed when needed. Blockchain is used by various cryptocurrencies like Bitcoins to store and record transactional data. Blockchain technology is finding great uses in various businesses as it can keep a record of events, contracts, personal information like medical history, monetary transactions and a lot more.
Blockchain has disrupted the way data is stored and managed. It is increasingly becoming popular due to multiple usages and also the automation of various industries and companies. Blockchain is a relatively new field where everybody is getting to know how it works and then converting their knowledge to potential gains.
A Blockchain course can help your cause. Various courses on blockchain and how it works is present on various learning platforms. A course on the blockchain can help you in knowing how blockchain is helping businesses. It will also give you insights on how this technology can add value to a particular business or a project.
A course on the blockchain will help you understand its basics, how it is tackling the prevailing problems, types of blockchains and how blockchains are disrupting the whole business space and creating a whole new world. These courses will help you enhance your knowledge and understanding of the subject. Also, you can seek employment is connected fields after taking up a blockchain course.
How Do I Get My Blockchain Certification?
Blockchain technology has brought about a disruption which has affected the whole world. Blockchain is creating a lot of jobs as companies need people who understand how blockchain works so that they can make the best use of the resources in hand.
To get into the Blockchain space, you must be certified. Also, you must have relevant and in-depth information on the subject matter to find your space in the blockchain industry. Getting certified in any aspect of blockchain would be the first step. One can get Blockchain certification on innumerable online and offline learning platforms. Also, certifications give you the required knowledge in the subject matter without burning a hole in your pocket.
Certifications are universally accepted and have an instant impact on your career as they give out an impression that the person is well-versed with the topic. Blockchain certifications can be received after successfully completing various learning modules and assessments provided by the offline and online learning portals.
Using these learning portals, you can upgrade your knowledge and understanding of the topic and become more employable. Blockchain certifications cover multiple aspects on the topic and can get you ready for the market. With blockchain certification, you can get ready for the next big step of your career.
The COVID-19 pandemic has so far infected over 1.2 million people and killed over 60,000 people, and has spread to more than 205 countries. While at some locations a handful of cases were reported, others with early community transmission have a few hundred. Unfortunately, at geographies with widespread transmission have reported thousands of cases.
This pandemic has caused major disruption to global economies owing to the containment measures and lockdowns all over. It is quite evident now that because of the virus-containment measures global economies will be hit to a great extent. Lockdowns, social-distancing and other coronavirus-containment measures have led to a massive fall in the global economic activity – plummeting consumer demand, fall in crude oil prices, crash in global stock markets, and equally decreasing global banking revenues.
The COVID-19 outbreak has had far-reaching implications for almost all possible aspects of the economy. From consumer, retail, manufacturing, entertainment, packaged goods, sports, travel, etc. every sector has been impacted in some or the other way. This pandemic is certainly devastating for many companies, but that’s not same when it comes to Fintech. Though Fintech is feeling the pressure of the increasing crisis, but this crisis is also shining a spotlight on the power of Fintechs.
The coronavirus pandemic could be devastating for many companies, but it’s also shining a spotlight on the power of Fintechs. For Fintech it’s a mixed-bag of challenges and equal or more opportunities. Let’s take a look at the challenges and opportunities for Fintech:
Challenges Facing Fintech
Jolt to Venture Capital Funding – Since, the markets are highly volatile there is limited or minimum scope of fundraising activities as investors and funding groups fall back to more cautious positions. With uncertainty over the pandemic getting over, the only hope is seen only in the medium-term where leaner fundraising Fintechs will excel again.
Conferences and Events cancelled or postponed – To break the chain of transmission of the coronavirus and, almost all events across sectors have either been cancelled or postponed. The cancelled or indefinitely postponed conferences and events are a loss too Fintechs as they help develop new business and strengthen business relationships.
Decrease in payments – Fintechs which handle payments could witness a fall in activity from consumers because of the dwindling economy.
Consumers may be less willing to invest savings – Fintechs with a focus on consumer investments may be impacted by consumer wariness about investing during such a volatile moment. Even those investors lucky enough to be relatively insulated from the economic fallout may choose to put their money in safer options for the time being.
In such a volatile market, the consumer exercises caution which and refrains from making huge investments. This impacts the consumer investments in Fintechs.
Opportunities For Fintech
Modernised workforces are more likely to flourish – Companies sporting higher levels of modernisation and distant workforces are better positioned to not just survive but also to thrive during this difficult moment.
United approach to adopt contactless payment systems – As the world suffers through COVID19 pandemic, people from all corners of the world are finding ways to reduce the use of currency both paper and coins which changes hands many times over (possible for the virus to lurk over the surface). Encouragement from all sectors to call for digital / contactless payment systems will boost the growth of Fintechs.
High chances of reversing rollbacks on regulation – Many countries who have managed to curb the spread of coronavirus are likely to relax regulations on certain industries in order to spur economic recovery. Fintech is one of the industries targeted as part of that recovery program.
Preference to digital systems – Amid lockdowns and self-quarantine period, it has become imperative for banks to incorporate the best of digital solutions. Fintechs are well-positioned to step in to offer solutions to replace legacy systems.
The finance industry has undergone a massive technological transformation in the past few decades. This amalgamation of Finance and Technology has given birth to a new trend in the finance industry called Fintech. The Fintech industry is comprised of companies that leverage cutting-edge technology to provide creative solutions to traditional problems which were earlier unaddressed by the traditional system of banking and finance. The emphasis is on providing a seamless experience for the customer and boosting customer satisfaction by eradicating the roadblocks using technology.
With the proliferation of the internet and smart devices, consumer behaviour has changed in general. Consumers are more aware and more demanding today as compared to a few decades ago. The general technological advancement has been such that the need to provide instant solution to the problem is paramount. People are buying goods through the web using their smartphones. Now without the latest technological evolution this wouldn’t be possible, to cater to such growing demands from different industries the finance sector had to level-up and satisfy the needs of the customers. Digital wallet, digital banking, mobile banking, etc. are recent developments in the Finance industry that can be categorised under Fintech.
What’s Trending In The Fintech Domain?
The Fintech industry itself has evolved to a great extent in the last few years. With mobile banking and digital wallet being quickly adopted by the masses, some of the latest developments are still to be seen. Let’s delve deeper into the latest trends in the Fintech domain.
Contextual Banking
Contextual banking is the need of the hour, with the increase in hyper-personalization services customers are getting used to more specific products and services. The one size fits all approach is obsolete in the age of AI and machine learning. The contextual banking model is based on providing the right products or services to the customer at the right time and place. With the growth of big data and AI it is getting easier to provide contextual banking to customers based on their historical transactions and other relevant data.
Robo-Advisors
Technology has made it possible to train robots to carry out complex tasks that earlier required human intellect and interference. Robo-Advisor is a recent development in the Fintech industry where robots will provide complex investment and asset management solutions to customers. The advisory services can be availed online and require very minimal to no human involvements. Robo-Advisors factor in the risk-return profile of the customer and then accordingly provide investment solutions.
Robotic Process Automation
Robotic process automation continues to be a major trend in the Fintech segment. It not only helps the Finance companies to be more efficient in their functioning but also helps them to effectively comply with the latest rules and regulations set by regulatory bodies. The automation is not just limited to substituting human labour and performing a task but also includes suggesting improvements to the existing processes.
Blockchain
The recent technological developments have also exposed us to a new league of criminals who are tech-savvy and technologically advanced to break into our online portals. In the contemporary digital world, data is the real deal, identity fraud and theft of data, in general, is a major concern with increasing dependence on technology. Blockchain is being adopted to boost security in the financial services industry, from smart contracts to digital payments and identity management it has a whole lot to offer.
Innovations In The Mobile Payment Systems
With the increased internet penetration and affordable smartphones, the whole world has entered the digital revolution. Transferring payments using smartphone applications has been the norm since the past couple of years and rightly so given the convenience it brings to the customers. The technology however is not static and drives further innovations into this Fintech segment, like for example biometric access control that includes facial and finger print recognition. Other developments include suggesting users on their purchase decisions by factoring in their transaction history. There is much more going on in the mobile payment segment of the Fintech space.
Conclusion
The Fintech industry is still in its nascent phase and is growing by the day. It has proved to be a game-changer in the Finance industry and still has a lot more to offer.
Have you ever wondered what would be the case if money wasn’t into the picture? To simplify even further imagine a world where the banking and finance industry is alien to people. Well, it was the case when money wasn’t used as a medium of exchange. The barter economy was running the whole game, exchanging goods for goods and finding people who needed them. It was a lot more complicated than it sounds.
It’s hard to imagine a time like the barter economy when we are sending money through smartphones using the Fintech companies.
When money was introduced as a medium of exchange, it simplified a lot of things that were no less than chaos earlier. From providing a unit of measurement to assigning a standard value for goods and services there was a lot that money solved. But there was still a whole lot that could be done with money as a medium of exchange.
Realizing the potential of this ultimate exchange medium, the bank started leveraging on the multiplier effect of money; there was no end to this revolution of wealth creation and wealth management. As we progressed further and became more technically advanced, technology was leveraged to create Fintech companies, an amalgamation of finance and technology that helped solved the loopholes of traditional banking methods.
Popular trends in Fintech
All the major economies which were earlier cash-oriented are going cashless; this observation is enough to say that the Fintech industry is thriving in the contemporary landscape. The introduction of the internet totally changed the game for almost every industry and the banking & finance industry were no exception to this chain of progressive evolution.
A few decades ago it was just a thought and now it has been the norm. The deep internet penetration and introduction of smartphones have paved the way for success for companies in the Fintech industry. The next big thing in the Fintech industry seems more in favor of digitisation and automation of financial services. The Fintech industry has been limitless so far, let’s look into some prominent developments within this sector that will come out as a game-changer.
Digital Lending Portals
There are companies in the Fintech domain whose main goal is to bring more transparency and convenience in the whole lending process. To minimize the cost of the loan and make it available for even the poorest individual has been the mission for these companies. All of this on a digital portal that can be accessed through your smartphones and laptops, it has been never this easy to get credit from the banks.
Robo-Advisors
The future is all about automation; it has been rightly proved with this big thing in the Fintech circle. No, it’s not a sci-fi movie; robots are here to guide humans on their investment decision. These cutting edge technologies use algorithms to find the best investment solutions for individuals and businesses. It covers all aspects of your investments; from rebalancing to asset allocation you can trust your Robo-advisor for maximizing your investment returns.
RegTech
Leveraging technology to solve regulatory challenges for financial institutions is what RegTech is all about. It’s a combination of the words ‘regulatory’ and ‘technology’. When you are dealing with financial products and services the risks are endless, RegTech is here to save you by mitigating the risks and providing solutions to challenges using technology.
Conclusion
The next big thing in the Fintech industry is not about payment solutions using smartphones but it takes into consideration the broader set of challenges like financial inclusion, regulatory barriers for businesses, credit for the remotest consumer, etc. There is a major scope for companies that are willing to solve these set of challenges.
Also known as Financial Technology, the word Fintech is used to describe companies that give financial services to consumers and businesses using technology. Therefore making it a combination of finance and technology. Those who are engaged in this industry aim to create new technologies that can take over traditional institutions like banks and insurance companies.
Benefits of Fintech
● It gives you protection against risks that no other traditional insurance company will offer.
● You can save a lot of money since you do not have to spend money by hiring local rental staff.
● Helps in making quick decisions as it can compile the customer’s detailed profile along with the financial history, risk factors, and habits, all at once. It is hence helping in making lending decisions easier, quicker and more efficient.
● With the help of this technology, you do not have to contact the customer face to face, if they have a sales terminal near them with a wave of their phones, they can make contactless payments.
● Smooth transfer of money is one of the most essential features of fintech companies and you can always check your bank account details with a touch of your phone.
● The requirement to go to the bank to check your transactions is no more needed.
● Readily available loans to students as well as the public.
Scope of Fintech
Fintech has completely changed the way that companies and customers do payments and transactions on a day to day basis. This is also the reason why investments worldwide in Fintech is skyrocketing.
The best part about the financial industry in India is the fact that eighty-seven percent of the bills are made in cash, and almost forty percent of the population is not related to banks. Hence, it has a vast market place that is untapped for such startups.
Fintech companies use smartphones as a medium of interaction. Hence, with the booming industry of smartphones in India, the net penetration of this technology is also increasing steadily. The potential that Fintech has in India can’t be overstated.
Along with that, any existing financial institution or a traditional bank can use Fintech to create a healthy financial relationship between their present customers by introducing new digital products and enhance their service performance. It can also help in spreading modernization to traditional areas and educate many on technology thus facilitating a more easier way of transactions.
Things will continue to look good for the Indian Fintech market as technologies like blockchain, artificial intelligence, and intelligent automation can take Fintech to an altogether another level.
Scope for Fintech Courses in India
Courses on Fintech are widely provided in India. Some even include internships along with the course. If you are planning to get into the field of Fintech, it is much better if you do a crash course on it or have a certification for the same.
There are various courses like online courses, Fintech foundation programs, Fintech Prodegree, MBA in Fintech, etc. that are offered in multiple universities around India. To take up these courses, the candidate should have a bachelor’s degree or at least a background in computers.
With the increase in the market for Fintech technology, comes the rise in opportunity for people to work in the same field. Countless startups have entered the market and are looking for talented minds and workers to make their business a success.
Fintech startups have created a revolutionary change in the way payments are given and received. Businesses have an easier way of accepting payments. There is no need to worry about hard cash, and other applications use options like Ola money and their own software wallets for payments, which makes it even easier for people to facilitate transactions in their day to day lives.
With the increasing popularity of this trend in this technology and more fintech courses coming online, the requirement for experienced and trained individuals are increasing, making this a worthwhile investment.
Even students get to do internships for companies such as Paytm and BHIM, which says a lot about the scope for jobs in this field. Having a certification in Fintech will make sure that you can start your work in this field with a good post and a satisfying salary.
What’s trending today might be obsolete tomorrow that’s how fast-paced technology has made our lives. Every other day you hear some news about a new technological marvel that creates a benchmark. A decade ago nobody had even heard of Blockchain technology, let alone thinking about pursuing a career in the field. Today it is one of the most sought after fields and is counted among the industries with most rewarding career prospects given the growing demand for and acceptance of this technology. Before jumping over to how can you start a career in this domain let’s get a brief idea about what this technology actually is.
What is Blockchain?
The blockchain can be understood as a decentralized digital ledger that contains information related to transactions of economic significance. The blocks contain data related to the transaction like information about the parties involved, timestamp of the transaction, etc. One of the unique features of this technology is that the information stored in blocks can’t be altered later on, this makes it less vulnerable to the malpractices of corruption.
To simplify things it can be understood as a shared spreadsheet where changes are recorded from multiple users in the network who has the access to the document and there is a track of changes made by people within the network. It is not entirely the same as a spreadsheet, it is a form of the digital ledger and the security and sharing are a little more complex than a shared spreadsheet. The technology was initially developed to power cryptocurrencies but given its high utility, it was accepted across various other industries like healthcare, real estate, insurance, etc.
Building a Career in Blockchain Technology
The blockchain technology is still in the nascent stage and a lot is still unexplored in this domain. The technology has a plethora of opportunities for developers and other tech geeks, given its application across multiple industries, it is yet to reach its full potential in terms of employment generation. Since the field is comparatively new, there is no standardized formal education which is designed for people eying to pursue a career in this field.
What matters here more than a degree is the skillset you carry and the knowledge you have amassed, given your interest and curiosity in this technology. Blockchain course is designed to educate people who are eager and want to gain a holistic knowledge of the technology and its applications. The blockchain courses will give you kick-start as a beginner but since this technology is still in infancy you’ll need to be attentive towards the developments in the field and also you’ll need to upskill yourselves according to the changes in the industry.
One of the most important steps towards your career progression in this field is to understand the fundamentals of this technology. Every unique technology has a unique value proposition; the internet aimed to make an uninterrupted interconnected network, the core idea behind blockchain is to provide a method for exchange of value where no third party is involved. Understanding the essential elements of blockchain technology like decentralization, cryptography, smart contracts, etc. is vital.
Blockchain developer is an in-demand job role in this field, this requires technical expertise in the digital ledger technology to have a sound career. Learning JavaScript for web development and Solidity for Smart Contract would be a good start in the right direction. Having a background in computer science will give you a boost and programming knowledge is an added advantage.
Cryptography is at the core of the blockchain technology, applications of blockchain in areas of asset management is possible because of cryptography. Cryptography is proving to be helful in securing assets and is used by big corporations for the same. Training yourself in cryptography and opting for a blockchain course will increase your chances of landing a job in this domain given the growing demand for cryptography across multiple industries.
In addition to this, there are several cryptography projects in the market that also rewards you for completion, this will help you develop your skills and also help you to assess where your interest lies. You can be a part of blockchain communities where you’ll get the required exposure and guidance that will help you analyse and choose among the career options available in the blockchain domain.
One can say that today’s society, which is highly capitalistic in nature, revolves around two important areas: Finance and Technology. In the increasingly digitalised world of today, no one can escape technology. In a completely capitalistic society, no one can ignore the impact that money has on every aspect of our lives. An astute combination of finance and technology in today’s time can positively equip anyone to excel at life in an urban environment.
Many individuals and industries have over the years realised the powerful impact that the combination of finance and technology can have and have since tried to develop these two things simultaneously and in a way that compliments each other. Whenever these things have been developed alongside, marvellous things have happened such as net banking and continuous efforts are being made around the world to keep this combination or interdisciplinary of fields further developed.
What is FinTech?
In simple words, FinTech is made up of two words: Finance and Technology. Together these two words make FinTech. This stands for an aspirational innovation that aims to use the emerging technologies around the world and merge them with finance. Fin-Tech aims to challenge traditional financial ways and practices in a way that improves and elevates the quality of service. Over the years, FinTech has been used in fields such as banking, risk management, accounts, data mining, and software building.
A new area of study called Fintech Course has emerged that streamlines the aspirations and methodology that surrounds Fintech. Fintech Course is as much based on user experience as much as it is based on innovation. One of the main aims of the FinTech Course is to ease the way of conducting financial activities in a manner that is all-inclusive, easy, and non-intimidating so that more and more people are included in financial practices which will ultimately expand the market.
What are Some of the Examples of FinTech?
Some of the earliest examples of FinTech Course innovation are Net Banking and Mobile Banking. The brilliant combination of finance and internet technology has played smoothly on the phone. Mobile Banking has not only made the banking experience easy and accessible, but it has also led to more people who have opened bank accounts.
Once upon a time, making a simple transaction or something as basic as checking your current bank statement would mean spending hours in bank lines. Still, with net banking, people can check all details related to their finances and make transactions within a few clicks. This has increased the frequency with which people perform baking functions. The ease of doing business has increased with net banking and additionally, the overall consumer awareness levels have also improved, particularly amongst the youth.
Cryptocurrencies or digital currencies are other subjects that come under the FinTech Course. Cryptocurrency has in the last 10 years completely revolutionised how banking and global transactions work. Bitcoin ever since its launch in 2009 showed if money is mixed with internet technology then even the completely consolidated world of paper currency can be changed. By providing a legitimate alternative of paper currency through Bitcoin and other digital currencies, the FinTech industry proved that everything is possible with innovation. While cryptocurrencies were once treated as a fad and dismissed by officials, today transactions worth millions are held in Bitcoin and Altcoins.
Today digital currencies are an industry in themselves that has prompted governments to treat digital currency seriously. Many nations like Japan, the USA, and Russia are even considering of creating their own state-run cryptocurrency to counter the influence of privately owned digital currencies. These developments represent the world-changing power of FinTech and its many innovations which make the impossible seem possible.
Conclusion
Despite its noble intentions, common people are uncomfortable or intimidated by the notion of FinTech. The reason for this can be the hard language and terminology that surrounds this field. Most people use products and services that are a direct result of FinTech innovation, but they still maintain a distance from the technicalities of it. People and specifically students need to be informed about FinTech so that they join the field in the future. There is no doubt that FinTech has revolutionized the way this world works.
People have started connecting blockchains with financial transactions, cryptocurrencies and now the era of game development. Let us explore how you can benefit from a Learn Blockchain program.
What are the Blockchain Games?
A Learn Blockchain program is essential to understanding the gaming platforms working. Gaming platforms run on closed loops of data and development since no one else should create newer versions of it. Blockchains are innately made for this very purpose of reusing the data assets through smart contracts thereby providing for reuse and analysis of the data stored on them.
Blockchain games are distributed among ‘players’ and are digital goods that are decentralized. Depending on the platform used they use their own tokens or the tokens of the hosting platform. Ex: ‘ether’ on the Etheruem platform.
Key Concepts:
The terms make use of the blockchain features as applied to the gaming field.
Game theory: Blockchains run on network design and game theory. The game theory according to Wikipedia, studies the math models of interactions between sets of decision-makers who are rational. It was used for zero-sum games meaning one person’s win is the loss of the other players. It is widely used in CS, social science and logic applications. A good example of the zero-sum game is Fomo3D.
Tokenomics: Tokenomics makes sets of different groups with a common interest on a platform or network governed by various features of game theory. The tokens are used to incentivize and create new digital assets in a blockchain game. Tokenomics is exclusive to blockchain platforms and is not used on other platforms for gaming.
Decentralization: Since the coding on blockchain games can be studied and analyzed easily a lot of transparency is brought in. Further, the outcome of the game is not controlled. When developers update or try to alter the game which is not endorsed by the community of players, a forked version can be built from the game.
Potential benefits:
Blockchain games can have many potential applications in the gaming industry as proven by the number of successful ones.
The major benefits of blockchains are that they enable
1- Reusable Assets:
PUBG and such game-collectibles and accessories cannot be used outside the game as on desktops, mobile, and other games. However, the blockchain ecosystem is an open distributed platform using tokens. Marketplaces like Opensea and Rarebits now allow you to trade, buy or sell these collectibles of gaming. Thus a whole new field of economics opens up.
2- Transparent incentives:
Blockchains incentives are verifiable open and involve real-world incentives. The network verifies the game and hence no scams and Ponzi’s can flourish. Today you can play and earn money because of this inbuilt incentive feature and this has spawned many more blockchain games.
3-Aligned interests:
The players and developers interests are on the same team. Since developers cannot change the game without community approval, it is trust-based and difficult to make money by exploiting users unfairly.
4- Unstoppable Games:
Games that run on centralized servers can easily be closed down citing various problems. This problem is effectively prevented in Blockchain games since the community of players can fork versions of the game from the change on the blockchain.
5-Low-cost Migration:
A smart contract allows for low-cost migration. When the game rules are to be updated, a sub-contract can be used. Data is stored on a different contract and hence the parameters and behavior need not be changed.
Limitations to Blockchain games:
UX and Scaling:
The multiplayer Ethereum game has significant 15 tx/sec limit. Projects like Loom Network and POA Network are trying to resolve the scaling issues. Hybrids like Gods Unchained are also affected by scalability issues. The first UX game Cryptokitties cashed in on its best feature namely UX. One will have to Learn Blockchain to better the integration, competition and UX with other game-platforms.
Talent shortage:
The ecosystem lacks professional developers, gamers and standardized training to meet the shortage. Currently, ethereum’s community is the largest. The demand for professionals is high and very obviously the payouts can be fantastic!
Concluding notes:
Learn Blockchain games before they get mass adopted. As scaling improves developers are building blockchain games like TRON, EOS, etc. Decentraland shortly plans to build a virtual world of blockchain assets offering better reusable assets, incentives and transaction rates.
It 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.
To 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.
