Prediction 2021-2023: Blockchain Usage in FinTech
From 2021 to 2023 and beyond, FinTech using blockchain will accelerate the critical adoption and use of digital currency services and smart contracts.
Blockchain will accelerate service speed, security, and usability. This will enhance business and consumer value by reducing cost, the idea that we’ll have fewer cyber risks and execution errors.
Blockchain leverages tremendous opportunities for business platforms against the explosion of networks such as Ant, Google, JP Morgan, Visa, and others. Blockchain created many billions of transactions and payments last year. The compounded annual growth rate (CARG) was between 21-27%, leading to 70% adoption by the end of 2023.
Beyond 2024, leading national digital currencies using FinTech will be developed and accepted.
With respect to traditional banking services and financial services, there is a critical need for them to adopt fintech with blockchain in order for them to compete in the next five years.