Disruption in financial institution by the advent of Fintech
AuthorSalman, Sheikh MD.
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FinTech is the integration of financial services with technology and thus creating a network that is secured, efficient, viable and transparent. Blockchain is leading the way to establish this kind of platform where it will create ‘peer to peer’ network rather than a centralized network. In this network the clients can exchange money without the help of intermediaries which will diminish the need of institutions like bank. Hence disrupting the traditional financial services. Gradually, with the help of crowd funding and research they will be able decentralize the infrastructure as there will be no central regulatory party. Decentralizing the infrastructure will pave the way for investors to invest freely without bowing down to the giants of financial market and will be released from the clutch of their manipulation. FinTech is inevitable and revolutionary. Therefore, central regulatory boards should comply with the independent organizations and entrepreneurs to form a secured network.