Blockchain can Empower the Future Of Finance

We're in the 21st century and the great thing is that we are witnessing the evolution of technology. We can see how technology has been evolving for the last couple of years and probably this is going to grow even more in the coming years. Now we hear a lot about blockchain and artificial intelligence techniques because both are doing good in the segment. The future of blockchain technology is so good that we will see a lot of innovations in place and it is good for us because this way things will be much more smarter and better. While we cannot ignore the existence of artificial intelligence technology and once it is integrated with blockchain then it is going to be even better.

Blockchain Existence

Many organizations are exploring the blockchain to build something that can be a game changer. Especially the Fintech companies are trying to use blockchain technology to empower the future of finance and they can build some products which will be future-ready. Finance is one of the biggest industries in the world So it brings a bunch of opportunities for these fintech companies to build sustainable and valuable products. we already know that the crypto ecosystem has been helping the banking and finance sector and with blockchain, it is going to be more scalable.

Over the years, RBI has come up with multiple guidelines, such as a complete KYC revamp beginning with paper KYCs, followed by e-KYCS and video KYCs. Therefore, blockchain comes in to recreate experiences.

Even in India, there is a lot that the RBI and government are working on and they have also adopted the blockchain at a scale. Multiple services can be empowered with blockchain technology and the good thing is that with the implementation of this high-end technology, things are going to be easier and more accessible for people. The future of Finance is going to be decentralized so we cannot ignore the fact that blockchain is the only solution that can make it happen. For example, we have decentralized financing as of now which is quite popular in terms of investment in the crypto market. Very few people are using this investment instrument at the moment however it is expected that it is going to grow a lot in the coming years.

Cryptocurrency is a revolution

Cryptocurrency is getting more popular across the world and the same impact is coming on blockchain as well so with this combination we may expect that countries will adopt both to empower their finances as well as they will use the technology to make it better. Blockchain and cryptocurrency both are part of the ecosystem so it is not possible to adopt 1 and leave another hence choosing one will bring another one by default and this will revolutionize multiple sectors significantly. For example, some banks are also considering the crypto option to reduce the cost of overseas remittances or cross-border payments but to implement this solution they will have to go through the blockchain.

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Currently, artificial intelligence technology has also been growing significantly so it will not be a surprise if this can also be added to the bunch along with the Crypto and blockchain. Maybe the future is going to be decentralized finance mixed with artificial intelligence and it is quite possible. I have seen some articles in which people are talking about that how AI technology is going to make trading super easy and automated. Artificial intelligence technology and machine learning are something that keeps on learning through the use case so with trading when things do not go well then also it will learn and understand the right ways to make it more personalized and profitable.

With technology future is going to be bright provided we adopt the same on time. It is always good practice to be the early adopter instead of waiting for the right time because sooner we join the technological revolution will give us some additional advantages and the same can be achieved with the blockchain and cryptocurrency at the moment.

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Posted Using LeoFinance Alpha