The financial technology industry has been growing and evolving quickly, and there’s no reason to think that the expansion will stop anytime soon. Blockchain fintech companies are becoming so popular for a variety of reasons.
One of those reasons is that they have the capacity to save financial companies lots of money. When a financial company uses blockchain fintech companies they have the option to cut out the costs of employing administrative personnel, third-party fees, and even IT costs. It can greatly change the structure of an organization. Right now about 69 percent of banks are already experimenting with permissioned blockchains. By 2024 the global blockchain market could be worth $3 trillion.
BLockchain startups also allow the average person to get more involved with the trading industry and to have access to other people within the market. This is interesting to anyone who is interested in making money through making trades and paying attention to the market. You might have noticed the increased interest or even fervor around the Bitcoin industry. Each day there are 80,000 different tweets sent out on Twitter about bitcoin, so it’s safe to say that it’s a powerful topic of interest.
Since Bitcoin was introduced in 2010 there have been eight million accounts created, and Bitcoin is unrestricted in 96 countries. This means that a lot of people are using it, and that more of them have access to each other than when using other types of financial means. Individuals can safely trade verified money between one another without having to go through the central bank. This could obviously disrupt the entire traditional banking system as we know it.
As for whether it’s a good time tog et involved, that is always going to be a personal choice. It seems unlikely that the hot idea is going anywhere too quickly. It’s always a good idea to research as much as possible to stay up on trends as you explore this types of things, especially in their infancy or earlier years.
One fun fact about Bitcoin is that the person who created it has chosen to remain unknown. The name Satoshi Nakamoto is actually an alias. It’s a little mysterious considering that it seems difficult to keep an identity a secret when a business so large is being created, but on the other hand, anything is possible when there is money involved.