Why is this fintech revolution happening now, not 50 years ago, not 50 years later?

Expert Solution

Fintech revolution is linked to leveraging technology for the finance. The underlying of fintech is technology, which essentially depends on penetration of internet and internet accesible devices for the masses. Today masses have mobile phones, laptops, computers and have strong internet connectivity to power these devices. 50 years ago, these equipment were not even invented. Even if they were invented, they were not accessible to the masses. As we progressed, the accessibility of the technology increased and most importantly the trust which is based on robust security system developed over time.

Finance has been always there since ages, but the technology and robust security systems were only developed recently which is contributing to the fintech revolution going on right now. 50 years before finance was paper and physical based and technology hardly existed. 50 years later, would be too late for fintech revolution to happen since we are already in the technology age whereby technology can be leveraged for finance.

jeff jeffy answered 2 years ago

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