FinTech, BlockChains, BitCoins, Fourth Industrial Revolution

What is really ruling the finance world today? We hear a lot about FinTech funding and block chain technology along with Bitcoin as an alternative way implemented into bank payment systems recently.

It is rather difficult to bring across this concept and idea as it works better in demonstration as compared to talk about it.

What is FinTech? It is mainly disruptive technology that has the capabilities to replace financial services (Can be in the form of cheaper way or a more convenient way) but at the same time more efficient and in a certain way safer too.

Just to get yourselves interested on the concept of block chains, do watch this quick video: BLOCKCHAINS

I really like to see, read and hear about Bitcoins in which they are a small subset of the bigger ecosystem and this is a good introduction to start with: BITCOIN



Such block chains systems should be a secure channel as a third party using bitcoin as part of the transaction which in turn can be redeemed back into the real currency thus creating a market and a natural one in doing so.



The World Economic Forum 2016 early this year in Davos discussed deeply into the trends and how the world is moving into and in summary, it could possibly be the fourth industrial revolution. Revolutions are usually something not easily dealt with because of significant changes that destabilizes and question the status quo but eventually changes pushes through over time but the question about whether it works is unquestionable. The first revolution might bring about a new form of problems coming many centuries into the future (Such as air pollution, breaking the ecosystems, genetics and food production techniques just to name a few)


Source: WEF

Such significant changes brings about many existing issues as well, such as loss of jobs/income, the non-necessary skills required previously and to a certain extent reduce amount of time and effort required to get things done. Eventually, new skills and new jobs will eventually be created thus it is important to stay relevant. No longer are the years of loyalty you pledge to your company and you'll be set for life anymore. Companies are also faced with the same task of returning ROI on every dollar of shareholders' money and that in my opinion is vested interests.

The big subset of block chains in my view is Big Data. That is IOT, Internet of Things combined with many many different concepts to build a computer server that can maintain and sustain all of this. Many of us know this and that is Cloud computing. In time to come, Superhuman computers may be developed into watching over security (AI, Artificial Intelligence) and bringing security into a whole new level. I would believe that Amazon and IBM resources would have the capabilities to bank on such new technology. I do see a lot of the practicality developing into China and a lot of these are going on aggressively but the level of secrecy and confidentiality still plays such a big role as a former communist country. My guess is that China will bring block chains to a whole new level all together and that would be a footprint into the new world technology.

Financial Institutions are not tapping greatly on FinTech to date. Looking back at Nokia, sometimes it makes us think about embracing changes because one step could be just too late for any recovery at all. The Financial services are also part of a new form of Robo-Advisorts (Another form of artificial intelligence) and without a doubt services are going to be transformed into a new level all together.

The change is here and FinTech and Bit coins are also an alternative way of investing. That would add on to the list of asset allocation in the previous posts.

Only Steve Jobs believed in the future of smart phones and tablets before it came here today.

"If at first, the idea is not absurd, then there is no hope for it." - Albert Einstein