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

Solutions

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

Next > < Previous

Related Solutions

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

1. Why is this fintech revolution happening now, not 50 years ago, not 50 years later? 2. How big data supports Fintech credit scoring? Will that raise any ethical problems? Any law enforcement on that? 3. Comparing the emerging of derivatives innovations decade years ago and Fintech, are there any similarities, dissimilarities? Do you think Fintech will replace derivatives’ role, or it will complete derivatives’ role?

Fintech revolution and implications for corporate governance

What is FinTech? Give some examples. Is the U.S. ahead or behind in the FinTech revolution....

What is FinTech? Give some examples. Is the U.S. ahead or behind in the FinTech revolution. How do you think FinTech will change financial transactions in the next decade in the U.S.?

Comparing the emerging of derivatives innovations decade years ago and Fintech, are there any similarities, dissimilarities?...

Comparing the emerging of derivatives innovations decade years ago and Fintech, are there any similarities, dissimilarities? Do you think Fintech will replace derivatives’ role, or it will complete derivatives'srole?

How did Glass Steagall actually caused bank runs nearly 50 years later and why did it...

How did Glass Steagall actually caused bank runs nearly 50 years later and why did it happen?

Consider 3 time periods (now, a bit later, a lot later). The “Now” period: If a student...

Consider 3 time periods (now, a bit later, a lot later). The “Now” period: If a student goes to school now, they will have to pay $100 for books/transportation/fees/etc. In addition, they will not be able to work, hence the family income is reduced by $600. The “a bit later” period: If a person goes to school in the “now” period, they will earn $500 more than a person who does not go to school. The “a lot later” period: If a person goes...

Analyse how FinTech has evolved over the years and what are the scope of FinTech for...

Analyse how FinTech has evolved over the years and what are the scope of FinTech for the Banking and Financial services and explain how technological advancements mainly Internet of Things (IoT) has redefined the FinTech industry. (25 Marks)

The history of Cuba in the last 50 years is noted for its revolution, which brought...

The history of Cuba in the last 50 years is noted for its revolution, which brought socialist principles and destroyed the capitalist infrastructure, including the wealth base of its richer inhabitants. From the readings on Cuban history and contemporary society—1) what can be interpreted as the positive social impacts of the revolution on Cuban society (e.g. via race, class, gender); 2) how have the Cuban films we have seen promote the positive impacts of the socialist revolution; and 3) would...

Why are people retiring later in life now than they were previously? Is this because they...

Why are people retiring later in life now than they were previously? Is this because they don't want to "sit around all day" or because they have not accumulated a large enough nest egg?

Introduce about fintech, and why do banks acquire fintech companies? Is it possible that banks with...

Introduce about fintech, and why do banks acquire fintech companies? Is it possible that banks with low level of profitability acquire fintech companies to keep up profits? What drives this upsurge in M&As?

Subjects