The FinTech Revolution

We are currently experiencing those who call the fourth industrial revolution. As in previous industrial revolutions, it is accompanied by a financial revolution. The exponential increase in data availability, as well as the rapid growth in computing power, is leading to a dramatic digital transformation of banks, asset management, payments, insurance, credit, and even money itself. This lesson provides a brief overview of how markets and financial institutions are changing, with an emphasis on blockchain technology and decentralized ledgers. While there is a lot of focus on bitcoin and other cryptocurrencies, blockchain can have a greater impact on the size and scope of business, the nature of contracts, and the financing of industry supply chains. These changes can have a major impact on financial mediation and the lending process in the economy.

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