The fintech industry showed us actually how fast it can grew over the past year. It transformed from a hypothetical hotspot to an actual one.
Back in 2012, fintech was simply named “financial innovation” or “financial online services”. In 2013, we first heard the word “fintech” which came with the hope that the sector could be a nest for unicorns.
In 2016, we are seeing 48 fintech companies in the billion-dollar-club, and fintech conferences or hackathons became incredibly commonplace.
If you are skeptical of the power of this unicorn, here are four reasons to understand why fintech is alive and doing just fine.
Asia is starting to make its moves
Fintech started in the US, was refined in Europe but now, it’s Asian that sees the true potential in fintech and starts making its moves.
Social media failed to touch fintech
We’ve all heard that social companies will start to incorporate sending money into their platforms, ensuring a simple yet efficient integration of finance services. However, except of the Chinese WeChat, in the absence of true competitors, the former leaders have continued to grow.
Crowdfunding is just starting
Crowdfunding is just getting started. You can just imagine how convenient crowdfunding would become when you could simply donate with your favorite app. It will become a natural thing.
Blockchain is gathering momentum
The Bitcoin sees some problems and everyone is interested if it comes back to life. Even though the Bitcoin might have crashed, the blockchain that’s powering it has a huge potential. US Securities and Exchange Commission approved a plan to issue company stock via blockchain. This starts a new world of possibilities, including disrupting the way stocks are issued and traded.