If there is one industry that grew exponentially during Covid-19, and still continues to do so, it’s Fintech.
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Making Financial Services Affordable
With the introduction of Fintech, banks were suddenly under incredible pressure to stay competitive. Especially during the early days of Covid-19. The need for digital payment solutions rose exponentially and with this changing landscape, solutions were needed fast.
Due to this, there has been a massive increase in the number of Fintech companies worldwide.
As these new ventures are growing, traditional banks are taking note and making plans to enter the space themselves.
For example, The Bank of England and Bank of Canada joined World Bank and launched a new global Fintech initiative in Paris.
The new initiative, dubbed “Fintech Lab,” was founded to help countries around the world establish themselves as global Fintech hubs. Fintech Lab will also be focused on promoting financial inclusion, including financial literacy for all
The centre has received support from the High-Level Group on Financing and Innovation and it is also one of two UK global centres designated by Innovate UK.
Developing Countries Love Fintech
Due to Covid-19, the underdeveloped banking infrastructure in developing countries needed a complete overhaul. This time was seen as an opportunity to bring in new innovative ideas from the Fintech space. To completely change and revolutionize their current systems.
Africa’s internet costs are quite high. Now the hope is maybe Fintech can find an indirect solution to reduce these costs as well.
No matter how you look at it, it seems like Fintech is here to stay.
As long as there are products and services that cut costs, Fintech is simply destined to grow in the developing world.
This Trend Will Continue
There are various factors that are driving this rapid growth in the industry. These include rapid technological advancements, the evolution of financial services, increased penetration of the internet and social media, and regulatory framework changes.
The study also indicates that blockchain will be one of the most disruptive technologies for the finance sector in 2022 and beyond.
As it offers faster transactions with lower costs to businesses and consumers. Blockchain is also becoming known as Fintech 2.0.
Let’s see what happens in this very exciting space as it continues to expand by leaps and bounds.
We recommend looking towards new opportunities associated with the emergence of services in which customers are ready to pay for your work in cryptocurrencies.
This movement is only in its infancy and there is a great chance to get into the stream!You will be an early bird, and when new trends are born, it is the early birds who are in the trump cards.
For example, if you want to work as a freelancer then sites such as Quasa Connect are good places to find prospective clients.
QUASA is the world's first remote work app to offer cryptocurrency payments between clients and freelancers.
There is no need for conversion and complexities with banking operations. No need to know the laws of different countries.
Connect your crypto wallet to the Quasa Connect app and answer published tasks.Complete your profile and add a portfolio so clients can see what you can do, find and select you.After the customer has chosen you and entrusted his task, you will begin the implementation, and when completed, click the “Finish” button.The reserved money will go to your balance in the application when the customer accepts your work.
In many countries, payments in dollars are difficult, but there are no problems with cryptocurrencies. And if you live in one of these countries, then, receiving payment in cryptocurrency for your services, you can easily exchange it on p2p exchanges for the currency of your country.
The application is available for all versions of Android.
Before you make any significant decisions, it’s best to consider all of your options carefully. This way you can pick the perfect one for you.
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