Take the fast lane with Blockchain!
To say that Blockchain is the next big thing in the world of fintech would be an understatement. The distributed ledger technologoy is rapidly revolutionising the concept of database storage services, providing unprecedented levels of transparency, independence and security. Information updates are Usain Bolt-fast, thanks to a web of many different computers spreading the workload as well as the risk.
Blockchain first rose to prominence a few years ago as the tech underpinning digital currencies such as Bitcoin, but this was just the beginning of a new era of fintech innovation. The ability to record a complete history of financial and non-financial transactions that cannot be manipulated or counterfeited in any way has fired the imaginations of start-ups and global institutions alike.
With applications ranging from digital music sales and proof of provenance to online trading and KYC processes, even national governments are getting in on the act.
Last summer, just a few weeks after the Brexit referendum, the UK cabinet approved a strategy to implement Blockchain technology across all public sector organisations, streamlining a wide range of services from health provision to welfare. With the merits of online voting under discussion in a number of counties, it’s safe to day that Blockchain’s global influence will continue to grow in 2017. It’s the fastest and safest database method out there… and it’s here to stay.
The future belongs to…
Over the past few years, disruptive fintech firms have significantly changed the landscape of online payments, leveraging the power of the forex markets to save their customers money. To send and receive payments more quickly, efficiently and securely, more and more entrepreneurs now choose to make transactions with this new generation of financial services providers, leveraging the power of cutting-edge trading platforms, rather than using traditional bank transfers.
Cybersecurity through machine learning: to be or not to be?
With the fintech industry playing an ever-increasing part in our everyday lives, threats to database assets are becoming more sophisticated and more dangerous. That’s why cybersecurity is among the top priorities for 2017, with companies around the world joining forces to develop new and more effective systems to combat hacker attacks. By sending warnings about potential fraud and sabotage threats in real time, the latest digital protection protocols enable the financial sector to deploy defences more rapidly to counter online assaults. To prepare themselves for breaches, many companies ‘wargame’ simulated strikes against their core infrastructure, testing the strength of their security systems on a weekly or even daily basis.
When it comes to the hottest cybersecurity trends, machine learning is all the rage. Ever since it first emerged, this method of using entirely independent computer-driven predictions and decision-making has always been subject to fierce debate. Some say it’s the industry’s best shot at solving the long-standing hacking plague once and for all, while others claim that any machine tool could sooner or later be hacked or manipulated, with even more devastating results. One thing’s for sure – machine learning-based platforms can currently enhance the most popular cybersecurity techniques. But can computers be given the ability to learn autonomously, ultimately engaging in proactive defence? This remains to be seen.