FinTech is a term used to describe financial technology, wherever the industry provides financial services with any kind of technology. In the age of modern technology, FinTech continues to be a popular focus on financial markets. It can also be used to help companies manage their business’ financial functions, including software and applications for anything from mobile payment applications to cryptocurrencies.
Cryptocurrency has used a lot in FinTech to secure sensitive payment transactions when dealing with all financial services in the financial markets. This is where Blockchain technology came in to ensure that all of the recording information was recorded in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is basically a digital transaction ledger, which is replicated and distributed over the blockchain across the entire computer network.
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