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.
Tag: fintech course
All you Need to Know About Learning Bitcoin Blockchain Programming?
Bitcoin Blockchain is a crucial blockchain that was intended for the only reason to note the transactions as a fixed permanent record. Therefore it accompanies stack based scripting language with a few commands only and not the top-level programming capabilities.
Blockchain training is intended for people who need to make a profession in the blockchain technology and remunerating field of digital currency. The blockchain learning comprises of the fundamental knowledge of cash, blockchain and bitcoin, wallet security, local and worldwide organizations and foundations that are right now utilizing this blockchain technology.
In this guide, you will learn that the bitcoin and blockchain technology is the most important topic running around the globe.
What is Bitcoin?
Bitcoin is digital money analysed in 2009 by Satoshi Nakamoto. This currency works in a shared framework, using the blockchain technology. Bitcoin manages transactions, and no one claims to controls Bitcoin.
What is Blockchain?
The blockchain is an anti-corruption digital record of monetary transactions that is programmed to account monetary transactions as well as everything related to finance. It is a chain of blocks, and every block consists of the information of digital ledger of records that are connected with each other via cryptographically secure and permanent frameworks.
Learning Bitcoin Blockchain Programming
You must be wondering, what you ought to do to learn blockchain and enter into the blockchain space. It is really easy. All you need to do is to have some basic knowledge about the Bitcoin, Blockchain, Blockchain technology and programming, Cryptocurrency and the basic software engineering fields that brought forth the blockchain technology. These terms were solitarily studied for a considerable length of time; however, when Satoshi Nakamoto united them, it made a brand new revolution.
There are many sources you can learn from like over the internet, some blogs related to them, e-books; also there is a community named “incodewetrust” where there are more than 200 developers present to share their knowledge regarding the same topic. And also there are many courses available online and offline to have a full study of Bitcoin Blockchain Programming.
This course trains the learner to program the blockchain. This helps the learner to:
– Understand and learn primary blockchain concepts.
– Strategies for creating applications on the blockchain
– Data about the progressing explicit industry-wide blockchain systems.
It is perfect for software engineers and designers engaged with creating and actualizing blockchain applications.
Also, one can take blockchain training in Hyderabad as well.
Blockchain training in Hyderabad is provided by the Open Source Technologies which is famous for it’s propelled preparing educational programs and giving complete methodology oriented learning which will undoubtedly give the absolute subject information.
A certificate is also given to the student which is an additional preferred standpoint that enables you to get the best job for your skills. These courses will likewise clarify the present cases of bitcoin and blockchain innovation that comprises of payment rails, secure ledgers, smart contract, and verification of possession, settlements and small scale transactions.
Objectives of Bitcoin Blockchain Programming course
– Basic knowledge about the Bitcoin, wallet and transactions
– Agree to receive Bitcoins as payment
– Wallet Management
– Basic knowledge about the Blockchain
– Investing Bitcoin
– Cryptocurrencies
– Complete job training.
– Best lab framework.
– Reasonable course expense.
People who can opt for Bitcoin Blockchain Programming course
– Business Employees
– IT Professionals
– A person who is looking for a job
– Graduates and postgraduates
– Administrators
Final words
No doubt that learning blockchain is very important today. And it is made easy as there are courses available online and offline from where one can learn but be careful with courses that request you to pay a good amount of money and will make you learn the theory only. If you are paying for such courses, please ensure you take in its practical knowledge too.
Indian Fintech 5.4$ bn in 3 Years
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!
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!
What Programming Languages Would You Need To Learn To Enter a Fintech Career?
HackerRank states the six best programming languages for finance and FinTech are Python, C#, C, C, Ruby, and Java in no particular order of being the best or most popular.
- Python
This programming language is simple and its syntax minimalistic. Its applications lie in machine learning, data analysis, the FinTech sphere, software industries, building cryptocurrency markets, insurance, banking, and many more.
The popular features of Python are
• Scalability, consistency, simplicity.
• Precise and fewer code lines.
• Pythonic-standards applicability help to read, modify and maintain code with ease.
• Powerful Django framework
Despite benefits being many, the drawbacks are
• No support for the web browser.
• Design restrictions. Asynchronous capabilities limited by lock and single thread. - Java
Oracle’s Java favours bank programming technology because of its security and capacity for loaded programs handling large volumes of data.
It is very popular in FinTech industries because of it
• Powerful Security Manager.
• Running runtime constraints
• Support and portability to many OS
The Java disadvantages are
• Lower speed.
• Lower productivity
• Technology that consumes memory - C Language
C programs are used in Fintech industries where speed in execution is crucial. It is popular for programs requiring advanced levels of computation where numerous operations are processed quickly, in quantitative analytics, and in quantitative finance.
C is advantageous for its
• Code reusability
• Speed and Efficiency.
• Rich resource libraries.
The drawbacks are
• Complexity.
• Code writing and insecurity. - C#
Microsoft’s C# has a syntax similar to Can the best of Java and C. It is used for 3D-Unity games, building .NET programs, mobile apps, and websites.
Developers favour C# for its
• Interoperability in Cross-languages.
• C Enhancements.
• Volumes of libraries.
• Type safety. Uninitialized variables are not permitted making C# coding safe.
Its limitations are
• Low speed
• .NET dependency
Significant advantages:
• Mid-level language
• Maturity
• High speed
• Highly portable
Some limitations are
• The absence of reusable code.
• Non-flexible in fixing bugs
6.Ruby
Ruby has the necessary characteristics and capabilities for rapid app development. Ruby combines features of Perl, Eifel, Ada, and Lisp besides others. It’s applications find use in the financial technology for fintech sector, e-wallets, digital payments, analytics, and Big Data, and financial dashboards, and asset management systems.
Startups and developers favour Ruby because it affords them.
• Time savings, efficiency, readily available plugins, third-party owned libraries and codeless apps for project development.
• Ruby-on-Rails framework provides a bug-free secure code to build scalable apps.
• Efficiency and cost saving
The disadvantages are:
Tool Documentation is hard to find.
Boot speed decrease due to the many libraries.
In conclusion, each language has its pros and cons. Ensure that your project and language are compatible. Your skills in these languages gained at fintech courses should be a good fit for a majority of the situations.
What is Job Description to Work in Fintech and What Are The Skills Required?
One of the latest and fast-growing sectors is the fintech industry. Fintech means a combination of finance and technology. Ideally, this combination has set high standards in the field of employment as the need for upscale finance, and technological intelligence is undeniably high.
There is a place for people with different expertise in the field of finance and technology together, and the job description is as under:
The core positions in fintech require people who have expertise in technology. Someone who is well-versed with Artificial Programming Interface has a better future in fintech. Developers of operating systems like Android and IOS have the opportunity to be app developers for fintech companies.
People who have enhanced their skills with User Interface also have jobs in fintech where they may need to develop a user-friendly and intuitive online banking experience for users. Such tasks are highly challenging and competitive in the fintech sector.
Customer support is also a need for the fintech sector, which requires people with good language proficiency and patience to handle thousands of customers per day. Online customer service can be made more compromisingly by joining as customer support to manage the chatbots online.
Product managers who can efficiently understand the need of the customers are essential skills for Fintech firms to stay disruptive.
Certain skills required in the Fintech sector
Fintech firms recruit people with skills such as Java. Without the knowledge of Java developers in investment banking will have no meaning. Java is the most preferred skill, J2EE is also needed for various tasks in a bank.
If you are interested in working in banking technology then learning Java is mandatory. Joining various Fintech Certification Courses will also help you enhance your skills and knowledge of the latest technology and financial disciplines.
One of the topmost desired skills is to be a business analyst. Banks are looking to implement new projects with new dimensions and strategies to reach out to more customers. Business analysts in the fintech sector can earn well if they have the future vision and understanding of tech projects. Business analysts should have different soft skills like the ability to see the disruption behind the potential investment of the firm and so on.
Being equipped with the knowledge of C sharp is quintessential for partnering with the developers in banking technology. Python is the latest skill that has made its mark in fintech. Python has become the mainstream for various projects in the financial sector of fintech.
Good communication is vital to stay in the fintech firms as you may have to show your communication skills both internally and externally. Having the skills of problem-solving during crises and the ability to build team spirits are characterized as the essential skills for every fintech job.
Conclusion
The Fintech sector has different career options and opportunities to explore. The flourishing fintech sector does not end opportunities for people in the banking sector. The members of fintech firms are usually agile and work as a cross-functional team instead of a traditional hierarchy of the business.
Entrepreneurial Opportunities for Blockchains Outside Fintech
Entrepreneurial Opportunities for Blockchains Outside Fintech
Blockchain technology revolutionized the banking world and financial transactions. It is rightly the buzzword in modern technology and touted as the backbone of the evolving fintech industry. However, blockchain technology was quickly adopted by banking, financial institutions etc. We shall look for the not-so-commonly known applications that the technology is being used for and is sure to transform. Such potential for transparency, security, and innovative access and storage has made it the brightest star in the technological world. And this throws up some very interesting entrepreneurial opportunities that are worth exploring and adopting.
Business Opportunities
The blockchain adaptations to technology are rising by the minute! Some of them are
Banking Sector
Now that the field is cleared of doubts with Wall Street and major banks cashing in on blockchain technology, there is tremendous potential for financial solutions offered to banks, financial and NBFCs, as well as individual clients.
Smart Contracts:
Some areas where smart contracts are secure, scalable and flexibly used are
- Automation of distributions of Royalty in the movies, publishing and entertainment industry.
- Maintaining and accessing medical records through smart contracts.
- Scheduling and running of public transportation based on rules which are pre-programmed.
- Transfer and management of property records.
- Loan processing can be automated.
Connected Car
- Task automation in supply-chain management
- The facilitating, transport, encryption, distribution, storage and more of the Big Data of connected cars
- Cloud servers, hosting, OEM services, and service providers of these services
- Location tracking, maintenance, vehicle location, and automated operation of vehicles
- Cybersecurity for V2I and V2V data
Food Safety
Blockchain business opportunities in the food industry are many for predicting and detecting failures in compliance, risk management, and reporting applications
Healthcare
Record maintenance, surgical records, and results, security of health records are some areas that have scope.
Internet of Things (IoT)
The Internet of Things technology has taken over nearly all fields. Blockchain technology can make the service of IoT more secure, safe and fast. Ex: Solar energy cooperatives, trust and verification services, smart city IoT processes, law enforcement tracking solutions and many more.
Passports and Visas
The advantages of a blockchain-based passport or visa can reduce wait times, implement alerts immediately, reduce check-in formalities and verification, and track information across a very large database. Opportunities exist in the digitization of passports and visas.
Wills and Marriage Certificates
Issue and recording of marriages, wills, property documents and the issue of documentation will present opportunities here.
Insurance Sector:
Opportunities will be in
- Simple processing.
- Time efficiency.
- Improved efficiency and risk management mean reduced premiums.
- Detection of Fraud
- Records and disbursements with a record of history.
Food Safety
Blockchain business opportunities in the food industry are many for predicting and detecting failures in compliance, risk management, and reporting applications.
Fintech courses India-based consultancy and learning can help you encase the entrepreneur in you. These courses offer a good grasp of fundamentals, concepts, theoretical knowledge, practical skills and certifications that could help enhance your resume and career. They also offer boot camps, short-term workshops, and basic knowledge of technical skills oriented for Fintech industries placements. Certification helps. But, you need to be an excellent communicator and work diligently to acquire the best analytical, technical and business skills crucial to your job role. Another advantage of such courses is of mentoring by certified and experienced industry aces that helps garner the latest best practices, techniques, skills, and practice on the latest trending technologies in the field of investment banking, financial courses and more.
What are the career opportunities in the Fintech sector in India?
What are the career opportunities in the Fintech sector in India?
Emerging industries, which are famously known as sunrise industries in today’s time, are basically those industries that have emerged very recently and shown the potential of being the most lucrative industries for society as well as the economy. Fintech or financial technology is one such sunrise industry, which has actually paved a novel way, away from the age-old financial services. The field is basically aiming towards disruption of banking processes, the way they are carried out in the present times and mainly want to provide digitally advanced services to the customers.
This field has showcased a huge number of profits as well as growth opportunities for those aspirants wanting to enter this industry. For instance, in recent times, we saw a lot of high profile hires by many companies working in the digital field. PayTM hired Shinjini Kumar, to work as the Chief Executive of their payments banks which is supposed to be launched really soon. Flipkart, in order to boost its fintech business, made two high-profile hires quite recently. PayTM even hired professionals who were working at powerful positions in global banks to head its leadership and management teams to help them get people on board of digital banking.
Also Read: Introduction to Fintech
The managing director of Manpower India, when quizzed about this field of fintech said, “Finance Technology is a booming segment in India with the opening of numerous mobile wallet companies, non-banking finance companies and now payment banks as well. All of these are running on robust digital platforms.” Thus it is quite evident that this field is all set to create a lot of new jobs which will be centred around mobile phones, generating a better user experience and also for the field of financial analysis.
The reason why there would be many career opportunities available at various positions in the field of fintech has its solution in numbers. Around 170 million Indians are active as well as passive users of smartphones and close to 160 million have an active access to the internet. Thus it is safe to say that India is getting on the digital platform with rapid strokes of interest. This, on the other hand, is encouraging more and more companies to come ahead and provide such digital services and products which not just help the customers but also make their experience a smooth one.
There are career opportunities available today in companies like Mobikwik, Capital Float, MSwipe, Citrus Pay, Ezetap and many other digital payment platforms. Many other e-wallet and e-commerce companies are being developed which will be providing similar kinds of career opportunities for those interested in the field of financial technology. This is why more and more youngsters today are opting out of this kind of job as opposed to jobs where the traditional banking systems are followed. There are quite a few institutes today that help candidates get into this field like Imarticus Learning which is increasingly becoming popular.
Related Article: What are the Advantages of Learning Fintech
What are the Advantages of Learning Fintech?
What are the Advantages of Learning Fintech?
In any market, when a certain industrial product or service is launched, there are a variety of reasons why it may work or may not work for the industry. This holds especially true in terms of any of the new technologies entering the market.
The growth of such technological industries determines the influx of new players, some of whom may come in with a silver spoon in their mouths, basically turning everything they touch into gold, great turnovers, fabulous mergers and acquisitions, and so on. At the same time, there are also a number of failures and flounders in the industry.
The fintech industry is not a very new one and has been through its fair share of ups and downs. In spite of a little while of a slump in the middle, there are many ways in which the fintech industry has strived and turned its trade positive in order to come to be thriving in the present times.
One of the main reasons why this industry has seen more ups is that it catered not just to the big guns but also to the small business owners which included all the disadvantaged sections of the society, women, minorities and immigrants.
Also Read: Introduction to Fintech
This industry is going to grow and be stronger, which is why there are many experts who believe it is advantageous to get certified and get into this industry.
Here are a few reasons why we believe there are great advantages in learning Fintech;
- Financial technology has been criticized in the sense that it would not see a large number of growth and developments in the future. But the majority thinks otherwise. The reason that fintech course is actually going to be there in the industry for a much longer time is the very fact that banks are getting digitalized and they are doing so at an alarmingly fast rate.The industry is no longer at the innovator stage and is more at an adoption stage. Thus getting certified to work in this industry will prove extremely advantageous.
- Fintech companies or those organizations that are involved in this industry don’t really have the rules of capitalism apply to them. This is mainly because of the fact that, in capitalism, there is the chance of companies getting explosive dividends and later on also going bust.But in the case of fintech whenever a void is created, there would be a number of alternative lenders to jump in to fill it up. This is the reason why the field of fintech which does not follow a ‘growth at all costs’ mentality will definitely flourish both in terms of growth and job opportunities.
- The world is getting digitalized on a massive scale and today no one really has any time for actually getting their transactions done from slower, larger financial corporations anymore. Technology has touched every single sphere of life including the sphere of banking. This is why learning the various nuances of fintech would be most definitely an advantage for candidates entering into this new world of technology.
The above reasons are why learning fintech is a great option for candidates looking to get into the industry today.
Also Read: Is a Career in Fintech Your Future?