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How The Fintech is Transforming Everyday Life?

Posted on by Imarticus Learning

What is Fintech?

The Finance industry has undergone some massive transformations to improve the delivery of financial products and services to customers. The evolution within the financial services industry has been nothing less than phenomenal. One of the most impactful developments in this segment is the Fintech sector that has totally revolutionized the banking and finance industry.

Fintech is the amalgamation of finance and technology that helps to overcome all the challenges of the traditional banking sector. Fintech is among the most rapidly growing industry and the Best Fintech Course in India is in huge demand in the contemporary.

Fintech career

The Fintech industry is all about leveraging cutting-edge technology to solve traditional banking problems and help with financial inclusion. It is generally used by businesses to manage their day-to-day financial operations and processes.

It initially denoted the use of technology on the backend of financial institutions but slowly developed into a new segment altogether that is more effective in providing financial solutions to businesses and individuals. From retail banking to fundraising and investment management it includes all major aspects of banking and financial services.

Impact of Fintech on everyday life

Now that we have a fair idea as to what the Fintech segment is all about, let’s delve deeper into how Fintech is transforming everyday life.

Easy banking solutions

Gone are the days where people used to take a day off to conduct their banking-related activities. Long queues are a thing of the past and now one can easily avail all the banking features from the comfort of their home using their smartphones. Fintech has simplified banking and changes the way we operate altogether.

From making online payments for e-commerce purchases to availing loans with just a few clicks, Fintech has simplified our lives by transforming the banking segment. Personal banking-related services have been much more efficient and convenient to avail. You can even check your financial data at any time of the day.

Blockchain & Cryptocurrency

Cryptocurrency will shape the future of the finance and banking industry. The core technology at the heart of cryptocurrency is blockchain. Blockchain first became evident to the world when Bitcoin was introduced. Blockchain has other significant uses in the finance industry related to security and other purposes.

A cryptocurrency is a form of digital money that uses cryptography to secure transactions. Digital currency makes the transfer of wealth far easier between two parties. The highly decentralized nature of blockchain makes it almost impossible for users to cheat the system and carry out any fraudulent transactions.

Affordable investment advisors

The Fintech industry uses cutting-edge technology to overcome traditional financial challenges. Traditionally the investment advisory services were limited to high net worth individuals and businesses. A major reason for this was the high-fee structure of investment advisors.

The growth in the Fintech sector has made Robo-advisors more accessible and affordable to provide advisory related services by using sophisticated algorithms. Robo-advisors have shown significant improvement and perform equally well. In the coming future, more companies will deploy Robo-advisors to provide investment guidance to customers on a large scale.

Fintech is among the most rapidly growing industries as the demand for Fintech products and services is on the rise. Fintech provides a better way to do financial transactions and also does it economically saving time and money both for the customers.

Fintech careers are among the most sought-after career options in the contemporary and the demand for Fintech professionals will continue to grow in the near future.

One can opt for a Fintech course from reputed institutions like Imarticus Learning and gain practical knowledge and skills to excel at the job.

Fintech Career

Imarticus Learning also provides a job assurance to the candidates with the top players in the industry.

A New Era of Fintech With Customer Engagement!

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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’?

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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 is Blockchain Course?

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Blockchain is a growing chain of cryptographically linked blocks or records that are resistant to modification. It records every transaction and thus, it is an open, transparent ledger of transactions between two parties. The sequential list of all the transactions is permanent, with each block linked to the previous block with a hash, timestamp, and details of the transaction.

This feature makes blockchain highly resistant to manipulation and attack. This explains why cryptocurrencies like bitcoin use blockchain to record transactions.

How Is Cryptography, Blockchain And Hyperledger Technologies Related?

Simply explained, cryptography is securing a private message to ensure its confidentiality. Only the intended person can read a cryptographically secured data. As a third party won’t be able to find the keys to decode the message, no one other than the intended people would be able to understand the encrypted message. It involves encrypting and decrypting content using various methods and encryption keys.

How to Become a Blockchain Developer?

The primary responsibility of a blockchain develops optimizes blockchain protocols, and to develop build smart contracts. To become a blockchain developer, you need to enrol in a blockchain course.

This is because you need to be adept at certain technical skills to become a blockchain developer. One needs to master certain concepts like cryptographic hash and distributed ledger etc. self-learning could be tedious, so it is always better to take up some blockchain courses to give a boost to the learning process. co

To master the blockchain development process, you should have a good grasp of data structures. Many blockchain developers explore tweaking data structures and combine them with cryptography to develop fool-proof and secure systems. Most popular data structures are Petrecia and Merkle trees. Data structure and blockchain are two inseparable concepts, and learning blockchain, beyond any doubt, is incomplete without having learned data structure.

You might have already understood the importance of cryptography in blockchain development. Cryptographic methods are used to develop digital signatures.

It is also used to develop crypto contracts or smart contracts, which is a computer contract that involves and controls cryptocurrency transactions under certain controls. Smart contracts became popular post Ethereum release. Most of the businesses

Smart Contract Development

Smart contracts caught attention post Ethereum release. Businesses across the world are now keen to integrate smart contracts into their systems to benefit from the application of business logic. Hence, developers striving to get into the blockchain field should learn about smart contract development. For this, you need to get a good grasp on languages such as Chaincode, Viper, and Solidity.

Web-Development
Another important skill to master as a blockchain developer, web-development involves the development of front and as well as back end functions including building interactive graphic interfaces. Blockchain developer should also be able to handle API and requests.

Let’s now have a closer look at the types of blockchain developers.
To understand what responsibilities do a blockchain developer handle, you need to know the various functions associated with it. Contrary to what you believe, the career possibilities of a blockchain developer are not only about building blockchains. There are multiple job layers.

Backend Developers
Common job roles of a backend developer are:

• Designing and developing Application Programming Interface (API) to integrate blockchains.

• Designing software and handling everything from testing to deployment and render technical support.

Blockchain Project Managers
Project managers are responsible for blockchain-specific, yet wider job roles. They need to handle a wide spectrum of responsibilities ranging from:

• Developing decentralized applications and maintaining them.
• Blockchain project supervision
• Advising on ICO structure
• Understanding the requirements and designing apps that could cater to their business requirements.
• Training of team members if required.

Smart-Contract Engineers
To become a smart-contract engineer, you need to know languages such as Solidity, Go and Python.

• Developing smart contracts and regular auditing to find loopholes
• Ensure security
• Conduct business process testing

Blockchain course helps you learn the basics of blockchain and cryptography. Training helps you decide which aspect of the technology you wish to focus on. There are a variety of courses emphasizing on various aspects of blockchain development.

To decide on which blockchain course to enrol, you need to decide on your career goal, what would you like to specialize in. Having clarity on your job expectations help you zero down on the best course.

Cryptocurrency Careers that Will See High Demand in the Future

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Over the last year or two, cryptocurrency has spread like wildfire through the interwebs, evolving from a once unknown form of payment to one that’s preferred and advocated for by thousands across the globe.

Bitcoin and other forms of cryptocurrency are more than just a buzz today, they’re facilitators of job creation in a newly burgeoning payments industry. Blockchain fanatics, rejoice, the job market is opening up– Indeed reported that job postings with keywords including ‘bitcoin’ and ‘cryptocurrency’ have shot up by a whopping 621% since 2015. A cryptocurrency career is one of the most sought out types today, with Indeed seeing a 1,065% growth in searches for these jobs.

Cryptocurrency-related jobs range from miners and data scientists to developers and blockchain experts. But these are the careers and jobs that are likely to see very high demand in the future:

Blockchain Engineer

Since blockchain is the system that enables the existence of cryptocurrency, blockchain engineers will be in high demand in those sectors and industries looking to hire for cryptocurrency systems. Blockchain engineers have the power to build new applications, even new currency modes for use in the crypto-world. They can either choose to focus on developing the technology itself or concentrate on the elements that interact with the system on varied scales, including currency or protocols.

ICO Developer

ICO means Initial Coin Offerings and is a fund-raising technique that enables startups to sell their crypto-tokens in exchange for other cryptocurrency or fiat currencies. It’s considered a boon for many startups looking to immediately raise capital but not wanting to deal with the taxes and charges that come of raising and transferring funds in regular currency. An ICO developer helps to form the new currency and form a platform for distribution and trading.

Security Architect

Cryptocurrency systems, in general, are much harder to hack into when compared to traditional financial transaction systems. That said, cyberattacks are increasingly growing sophisticated, which means no system is 100% safe. A security architect is usually tasked with protecting the company and its blockchain or other technology from external threats and exploitation of vulnerabilities. They also help to prevent and offset financial transactions and fraud. Knowledge of information technology and web development is crucial to land such a job, as is attention to detail and solution-building skills.

Technical Writer

Cryptocurrency is not for the techies alone, contrary to popular belief. Companies looking to create newer types of cryptocurrency are often looking for technical writers to write creative content that will attract investors and customers. These types of content could range from blog articles to whitepapers and pitch decks. Technical writers may also need to liaise with marketing and branding departments over the digital and offline promotions in the pipeline.

Conclusion

Despite a rocky first few steps, blockchain and cryptocurrency are alive and well in today’s world and fast gaining exposure. A cryptocurrency course will enable fresh graduates and current employees to upskill and delve into the industry while it’s still in its nascent stages. A deep intellectual curiosity and the ability to deal with changing times are perks, too!

What Are The Objectives of Online Blockchain Training?

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Online training, also known as distance learning or e-learning is a self-paced customizable mode of learning designed to meet a learner’s requirements. It offers several advantages to a learner such as reduced cost, increased instructor-student time, networking opportunities, documentation and much more.
Online training is possible in almost every domain today whether it is technological like blockchain, machine learning, artificial intelligence or non-technical like aptitude, reasoning, etc.   Blockchain is a buzz word in the 21st century and a very limited number of schools, colleges or universities conduct its training as a part of the curriculum leading to an increment in online blockchain training.
Blockchain was discovered in 2009 when a person (or group of persons) called Satoshi Nakamoto devised a decentralized technique of peer to peer transfer of digital assets among unknown peers. Most of the renowned companies today like Microsoft, Amazon, Facebook are working with the blockchain technology to integrate it with the new-age technology. Fully aware of the fact that blockchain is extensively in demand, there is an increased trend of people pursuing a lucrative blockchain career.
Hence, we need to understand the objectives of online blockchain training which are listed below.
Self-Paced Learning
The understanding and retention ability varies from individual to individual. Online training allows an individual to learn at their own speed resulting in a calm and stress-free learning environment. If the student is unable to get a complete understanding of a concept, he/she can go back and revisit the lessons as many times as they want. This system makes online learning very user-friendly.
Online Certification
Due to the easy availability of topics online, there is an increasing trend of e-learning among individuals. Several e-learning sites today offer courses from the most renowned universities in the world at an affordable price. The online certification not only boosts the morale of an individual but also adds great value to his/her blockchain career opportunities. There are a large number of top-notch companies providing high salary jobs to people who specialize in blockchain technology.
Increased Practical Knowledge
A good understanding of concepts is the key to implementation. It applies to all fields whether technical or non-technical. Online blockchain training involves the rendering of information by industrialists and specialists making it easier for the learners to grab the concepts. It also includes several assignments that provide hands-on experience to an individual resulting in increased practical knowledge.
Flexibility
Online blockchain training has replaced the traditional custom of attending lectures and classes to a more comfortable and flexible mode of learning. Learners can attend online training from their homes, working desk or even during a working lunch.
Cost-Effectiveness
Online training is cost-effective in that, it saves the individuals from the travel expenses of visiting the actual training locations. It provides certification in the desired field at an affordable price from one of the best organizations in the world, providing an opportunity to learn regardless of the financial constraints.
Conclusion
Online training has revolutionized the world of learning. It has created modern trends in the learning patterns. It offers an easier and smoother learning path where anything in terms of education can be accomplished at any time by anyone! Online training in blockchain provides a good understanding of the key concepts such as verification, ledger, consensus, crypto-currency and secure transactions.
It also offers good career choices through its new-age technology courses. Hence, it is safe to say that online training in blockchain has not only helped the people who are enthusiastic about the concept but has also resulted in increased demand for online learning.

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?

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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.