The term Fintech arises from the union of two words in English: Finance and Technology.
We could say that Fintech means the union of technology and finance. This with the objective of developing more efficient and more scalable financial services, reducing costs and thus allowing access to a greater number of people and companies, both investors and borrowers.
This phenomenon is based on what was initially called ICTs (Information and Communication Technologies), which encompasses the theories, tools and techniques necessary and implemented in the development and transmission of information. Concrete examples of this are computer science, internet and telecommunications.
TIC´s
Set of resources necessary to promote information through computers and electronic devices, computer applications and networks necessary to convert, store, manage and transmit it, whether at the level of individual or business user. ICTs form the set of technological tools that allow better access and classification of information as a technological means for development.
Fintech's cover different fields of traditional finance, which have been exponentiated by the incorporation of technology.
As example we can cite:
-
Transfer of funds
-
Financial and investment advice
-
Payments and charges via Smartphone and mobile devices
-
Investment
-
Personal Finance
-
Distribution of Financial Products
-
P2P, B2B Loans
-
Crowdlending
-
Crowdfunding
-
Factoring
-
Remittances
Blockchain and cryptoassets technology was born as a product of Fintech, but they came to occupy the highest representation of this culture.
The versatility of blockchain platforms that function as large accounting books, fully auditable, public and hacking-resistant, provided the level of security that Fintech needed.
With the creation of Bitcoin, ethereum, smart contracts, cryptocurrencies and tokens, the largest window for finance opened providing endless opportunities for partnership and capitalization. The democratization of access to finance is a product of this technology.
Today and thanks to the blockchain we have DeFi. The new disruptive phenomenon that is challenging all the paradigms of traditional finance and which I will discuss in my next post.
@juanmolina
Partners supporting my work:
Project Hope Venezuela is an initiative created to grow.
You See more about it at:
@project.hope - INCREASE BY 50% YOUR WEEEKLY PAYOUT
@project.hope - PROJECT HOPE in SWITZERLAND
Please Visit Our Website
Join Our Telegram Channel
Join Our Discord Channel
Opinión sobre Tecnología, Finanzas y Emprendimiento.
Venezuela, Colombia y Latinoamérica
Cripto en Español
You can also benefit from the experience of using the Brave browser.
Here I leave my personal link so you can download it: https://brave.com/jua900
Check out the full list of features here: https://brave.com/features/
FAQ: https://basicattentiontoken.org/faq/#meaning
