Fintech, like many other tech-oriented industries, is constantly evolving. There are new finance apps that are seemingly cropping up on a daily basis, offering bold new approaches to the managing and processing of payments. While this industry has been constantly growing, the arrival of blockchain technology threatens to bring an unprecedented level of disruption to finance technology.
Although synonymous with cryptocurrencies like Bitcoin, blockchain’s use cases are continually expanding into new areas of finance, as well as the healthcare, retail, entertainment and transport industries.
Blockchain essentially exists as an immutable block. With the technology, it’s possible to develop an entire ecosystem of fintech apps. Blockchain technology can transform regular financial processes into entirely transparent procedures built on secure and efficient transactions.