{"id":246953,"date":"2022-04-23T08:24:03","date_gmt":"2022-04-23T08:24:03","guid":{"rendered":"https:\/\/imarticus.org\/?p=246953"},"modified":"2022-04-25T09:02:05","modified_gmt":"2022-04-25T09:02:05","slug":"blockchain-in-fintech-a-catalyst-for-future-success","status":"publish","type":"post","link":"https:\/\/imarticus.org\/blog\/blockchain-in-fintech-a-catalyst-for-future-success\/","title":{"rendered":"Blockchain in Fintech: A catalyst for future success?"},"content":{"rendered":"<p><b>Blockchain: An Overview\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">A blockchain is a distributed, digital and permanent ledger that helps record transactions and track assets across the entire network of computer systems present on the blockchain.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The technology has added a new aspect to the fintech landscape and offered huge possibilities to the industry of fintech by making crucial changes to business enterprises.\u00a0<\/span><\/p>\n<p><b>How Is Blockchain Revolutionising The FinTech Industry?\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Undoubtedly, blockchain is the backbone technology that is revamping the FinTech industry.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Below mentioned are the ways in which blockchain technology is revamping the fintech industry.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>Creating a digital identity:\u00a0<\/b><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Though banks have a strict KYC check, fraudulent accounts are on a constant hike. Here comes the role of blockchain, where users can manage identity data, share data with others without compromising security, and sign documents digitally.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>No third party interferences:\u00a0<\/b><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">There are chances for things to go wrong in case of multiple parties' validations. With blockchain technology in place, payments can reach the vendor directly without any halt.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>Protects from fraudulent activities:\u00a0<\/b><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Being decentralized in nature, blockchain technology keeps from providing access to other people. It cannot be altered in any way possible, making every record protected.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>Enhances trade accuracy:\u00a0<\/b><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The merging of blockchain technology in the financial sector has rescued traders from troublesome counterparty checks. Through blockchain, the risks associated are reduced, and trade accuracy is enhanced.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>Crypto lending:\u00a0<\/b><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">One of the USPs of blockchain technology, which helps you hold money without the need of a bank. You can hold the crypto money in digital form with a digital wallet after investing in cryptocurrencies.\u00a0<\/span><\/p>\n<p><b>Challenges Addressed by Blockchain in FinTech Industry\u00a0\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Blockchain has the power to make business operations secure, transparent, efficient, and democratic.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Trustability:\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When users perform any action on the fintech applications, they are unaware of what is happening on the other side, which creates chaos and anxiety about identity theft. On the other hand, blockchain redresses the problem with transparent working.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">High operation costs:<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Time is often considered as money in the financial sector. Blockchain technology reduces the high operational costs by cutting down the time involved and reducing the dependency on third parties.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Slow process:\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The involvement of various third parties in the finTech industry delays the overall process, which results in an unstable business economy. This is another challenge addressed by blockchain technology.\u00a0<\/span><\/p>\n<p><b>Discover Financial Technology Courses with Imarticus Learning<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Our financial technology course helps students:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Practical application of learnings to real business problems and scenarios.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Get an in-depth understanding of every critical aspect of FinTech along with hands-on training.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Stay updated on the latest fintech industry practices by accessing resources powered by research, knowledge, and tech partners such as Rise Mumbai and Automation Anywhere, among others.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Get full-time fintech career-ready by working on group projects and open bookcase study-based tests that test your fintech knowledge and application in a theoretical decision-maker role.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Get access to fintech networking webinars, job boards, and events to<\/span><span style=\"font-weight: 400;\"> leverage your fintech learning fully<\/span><span style=\"font-weight: 400;\"> and unlock career opportunities.\u00a0\u00a0<\/span><\/li>\n<\/ul>\n<p><b>Conclusion\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Ideal for students with a bachelor's degree in finance background, this elite <\/span><a href=\"https:\/\/imarticus.org\/Professional-Certificate-Course-FinTech\/\"><span style=\"font-weight: 400;\">Financial Technology Course <\/span><\/a><span style=\"font-weight: 400;\">is bound to take your finTech career to heights you have never imagined!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the availability of <\/span><a href=\"https:\/\/imarticus.org\/Professional-Certificate-Course-FinTech\/\"><span style=\"font-weight: 400;\">Financial Technology courses<\/span><\/a><span style=\"font-weight: 400;\"> online, it has become convenient for learners to gain access to information about each and every element of the FinTech domain.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For any queries, please do not hesitate to <\/span><a href=\"https:\/\/imarticus.org\/contact\/\"><span style=\"font-weight: 400;\">Contact Us<\/span><\/a><span style=\"font-weight: 400;\"> or drive to one of our training centers in Mumbai, Pune, Thane, Chennai, Bangalore, Delhi, and Gurgaon.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchain: An Overview\u00a0 A blockchain is a distributed, digital and permanent ledger that helps record transactions and track assets across...<\/p>\n","protected":false},"author":1,"featured_media":246641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[22],"tags":[2298,3087],"pages":[],"coe":[],"class_list":{"0":"post-246953","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance","8":"tag-blockchain-certification-course","9":"tag-blockchain-in-fintech"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>blockchain in FinTech: a catalyst for future success?<\/title>\n<meta name=\"description\" content=\"A blockchain is a digital and permanent ledger that records transactions and tracks assets across the network. 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