“These four impending trends won’t just rewire the inner workings of the fintech industry, they’ll create space for further innovation on the part of agile startup entrepreneurs.
1. Quantum computing – Even JP Morgan and Barclays have been dabbling with IBM’s quantum computing tools, according to Wired, looking to the future for practical applications.
2. Artificial intelligence – the major exchange infrastructure on Wall Street is already almost entirely managed by automated machines.
3. Cryptocurrency and decentralized finance – Tether remains the dominant stablecoin in the cryptocurrency realm, but stiff competition is emerging with projects such as Stably.
4. Big tech – According to The New York Times, Facebook is developing a stablecoin for its platform. Add in the fact that major social media platforms are planning on integrating with ecommerce stores, such as the certain-markets-only Shopping on Instagram feature”
Facebook’s New Cryptocurrency, Libra, Gets Big Backers
- Visa, Mastercard, PayPal and Uber are among firms that will invest around $10 million each in consortium that will govern digital coin
- Still, the lure of Facebook’s nearly 2.4 billion monthly active users was too strong for many companies to pass up.
Disclosure: I’m a former employee of Facebook and currently a shareholder of FB shares.