There's been a lot going on in the blockchain space lately. So I had to get this piece off my mind and published. This was also the motivation behind publishing the FinTech post yesterday since I haven't posted here in a while.
One of my goals this year was to educate myself more around the blockchain space. I have been doing that on a weekly basis to be more aware of what's going on. I first jumped into the Crypto markets back in 2016/2017, around when all the ICO craze started and Bitcoin was on a run. Like a lot of people, I got burned a few times and stayed away from it. But coming at it now from a more mature and educated perspective, I feel this is the time.
FinTech is eating up the world. I think my first introduction to the word FinTech was when I started learning about companies like Square and Coinbase. If I were to define FinTech in my own simple way, I would define it as the modernization of traditional financial services.
The emergence of the Blockchain and Crypto has accelerated the number of FinTech companies that are popping up. Most of these companies live by the same ethos, which is to serve the unbanked and for everyone to be their own bank in a way. The traditional financial markets has never really worked for the people, especially if you think about all the hoops you have to go through just to take your money out, transfer money to someone, or borrow money.