Financial Technology (Fintech) Market is expected to grow at 20% CAGR during the forecast period 2019 to 2024

#fintech #blockchain #TAM #fintechmarket #marketresearchreport #startups #robotics #artificialintelligence

According to BlueWeave Consulting, the global financial technology (Fintech) Market is projected to grow at a CAGR of around 20% during the estimated time period (2019-2024), reaching the market value of around $ 305 billion by the end of the year 2024.

The installment/charging administration portion is required to drive significant development in the worldwide fintech market, prompting an income age of USD 207.11 Bn by 2023. The fame of installment applications like Stripe, GoUrl, Cayan, and Amazon Pay among clients and retailers will further drive the market. Regtech is likewise expected to develop widely at a CAGR of 22.05%, after installment/charging.

Significant advances associated with the fintech area are cryptography, Artificial Intelligence (#AI), blockchain, biometrics and character the board, digital security, and robotic process automation (#RPA). Artificial intelligence interfaces and chatbots have basically reclassified client assistance, and its developing prevalence will empower AI-arranged fintech market to grow at a CAGR of 21.72% during 2018-2023, trailed by blockchain-based fintech organizations.

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Financial Technology (Fintech) Market is expected to grow at 20% CAGR during the forecast period 2019 to 2024

According to BlueWeave Consulting , The Global Financial Technology (Fintech) Market is expected to grow at a steady rate during the forecast period. The global financial technology (fintech) industry market is projected to grow at a CAGR of around 20% during the estimated time period.

Startup Accelators: NASSCOM picks 17 deep tech startups under fourth cohort

#deeptech #club #nasscom #startups #startupindia

IT industry body NASSCOM on Friday announced the fourth batch of its 'DeepTech Club,' under which 17 startups have been chosen for four-month-long guidance, enterprise connect sessions, and exposure to investors, and the global startup ecosystem, according to a statement.

Technologies such as artificial intelligence (#AI), internet of things (#IoT), #blockchain, machine learning (#ML), and virtual reality (#VR) are leading the startup space, and attracting interest and activity, NASSCOM noted. The fourth batch includes startups working in areas like AI, natural language processing (#NLP), immersive technologies, IoT, #computervision, and #quantumcomputing, the statement said.

Some of the startups chosen are Devnagri, Exxar, and Stylumia Intelligence Technology.

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NASSCOM picks 17 deep tech startups under fourth cohort

IT industry body NASSCOM on Friday announced the fourth batch of its ' DeepTech Club,' under which 17 startups have been chosen for mentoring. Under the fourth cohort, 17 startups were selected for four-month-long guidance, enterprise connect sessions, and exposure to investors, and the global startup ecosystem, according to a statement.

Startup Funding Alert: Blockdaemon Raises $5.5M for its Leading Blockchain Infrastructure Platform - AlleyWatch

#fundingalert #startupfunding #blockchain #blockchaintech #technology #API #SaaS

Blockdaemon raises $5.5M for its leading blockchain infrastructure platform. This funding round was supported by a number of new investors including Hashkey, CoinShares, Blockchain.com Ventures, Kenetic, SPiCE VC, and Fenbushi Capital. Early investors Comcast Ventures, Lerer Hippeau, CoinFund, boldstart ventures, and Heavybit also continued their participation in our latest funding round.

Blockdaemon is a leading blockchain infrastructure provider. Its node management platform helps auto-scale blockchain networks securely with enhanced monitoring, back-up systems, HA clusters, APIs and cloud-managed node monitoring of on-premises solutions with their Blockchain Package Manager (BPM). Builders looking to interact with public, permission-based, and staking networks can connect to 30+ protocols through the Blockdaemon Marketplace.

Blockdaemon has a software-as-a-service (SaaS) model, clients can deploy nodes and connect to networks via our marketplace. It supports clients that want to rapidly scale up their networks, by providing custom node configuration across private/public chains and cloud services that work best for business.

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Blockdaemon Raises $5.5M for its Leading Blockchain Infrastructure Platform - AlleyWatch

Leading blockchain infrastructure provider, Blockdaemon , works with some of the largest enterprises in the worldShell Oil to simplify the process of deploying nodes for these organizations as they dip their toes into the powerful potential of the blockchain.

Startup Payment Technology: PayID - Open Source, Universal Payment Identifier

#fintech #crossborderpayments #moneychanger #foreignexchange #transfers #blockchaintech #blockchain #RBI #license

In June, leading technology, finance and nonprofit companies announced the launch of PayID, a universal payment ID to simplify the process of sending and receiving money globally – across any payment network and any currency. GoPay, Ripple, Blockchain.com, BitPay, Brave, Flutterwave, Mercy Corps and others have collaborated on the development of PayID.

PayID allows individuals to send and receive money across any payment network using an easy-to-read address versus one that’s awkward and unintuitive - such as a bank account, routing or credit card number. With PayID, sending money is as simple as sending an email directly to friends and family, no matter which provider is used, at a lower cost.

Whether a bank, payment provider or processor, digital wallet, or remittance provider, PayID is designed for any business that sends or receives money. Implementing PayID is simple.

For money transfer across currencies, Indian companies need to take Full Fledged Money Transfer (FFMC) license from RBI. More details about FFMC license at: https://lnkd.in/gBgzr2K

Read more about PayID at

Open Source, Universal Payment Identifier

PayID provides a single ID for anyone needing to send or receive money. Learn about PayID's open-source protocol & how to connect users on any payment network.

Bank of Canada: Designing a Central Bank Digital Currency (CBDC) for universal access

#CBDC #centralbankdigitalcurrency #UAD #universalaccessdevice

Key design matrix given by Bank of Canada on Central Bank Digital Currency (CBDC) based on universal access are

1. A CBDC should be as accessible as cash - 

A CBDC is a digital product that can be designed to include many of the attributes of cash (e.g., ease of use, portability, offline function).

2 Multiple formats for a CBDC can embody the design principles of universal access - 

The Bank is exploring multiple formats for a CBDC, including conventional online and mobile technologies, as well as custom devices and deviceless solutions.

3. A CBDC could be used through a dedicated universal access device (UAD) -

 One potential concept the Bank is investigating is a custom device that is engineered for universal access while securely storing and transferring a CBDC. The device could incorporate attributes of cash and take advantage of specialized technologies. Such a device should be manufactured at a low cost and issued by the Bank to ensure maximum inclusion.

4. A UAD could be resilient in ways that a smartphone is not - 

A UAD could embed a local, secure store of value, be network-independent and operate for long periods on a local power source.

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Designing a CBDC for universal access

If the Bank of Canada issues a central bank digital currency, the technology should be designed for universal access.

Startup Technology: Stamping Out Counterfeit Goods with Blockchain Technology and Internet of Things (IoT)

#blockchain #blockchaintech #startupideas #technology #counterfeits #fakes #seconds #iot #duplicates #pharma #electronics #luxurygoods

Counterfeiting is a massive economic problem that results in billions of dollars in lost business revenues each year, and it exposes corporations to fraudulent materials and defective parts.

Within the global pharma space, between $75 billion and $200 billion in counterfeit drugs are sold each year. In the electronics industry, fake parts cost component manufacturers about $100 billion annually. And in the European luxury goods market, about 10% of all items for sale are counterfeited, representing approximately $28 billion in lost value.

IoT provides unique identification and traceability, and blockchain provides a tamperproof chain of custody information. Pairing them can create a shared, distributed ledger capable of recording the origin, location, and ownership of raw materials and products at each stage of the value chain—giving manufacturers, partners, and customers the transparency and authentication they need. Blockchain with IoT, because of its ability to immutably track and share genealogy across multiple stakeholders, can inhibit counterfeiting in ways that traditional technologies cannot.

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Stamping Out Counterfeit Goods with Blockchain and Internet of Things (IoT)

Over the past year, Boston Consulting Group and Cisco Systems have explored the promise and impact of blockchain and the Internet of Things (IoT). The result is a three-part series that studies the practical applications and economic benefits of using blockchain with distributed IoT networks.

Startup Ideas - Blockchain based distributed super-computing technologies

As the quantum of information and also required computing power for #AI and #ML applications has been increasing, there is a need everywhere for faster computing power, which may be costly affair. However, #blockchain technology allows to increase computing power without huge investments in the computing infrastructure. In fact, #blockchain technology can be used to create a super computer by sitting in our office from combining the computing power of all idle computing capacity of desktops, laptops and mobiles located anywhere in the world by using distributed #blockchain technology.

The persons making available these computing capacities are paid based on PoW (Proof of Work) basis. So our old computers or laptops in the backyard or idle capacity during night time can be used to get additional revenues. Of course, the trade off is between revenues and electricity bills for power consumption.

One such white paper can be downloaded from https://conun.io

Bitpay launches Prepaid Mastercard in US to make crypto easily accessible

Blockchain payments provider BitPay has launched a Mastercard prepaid card for crypto users in the United States. The BitPay Card enables customers to convert their cryptocurrency into fiat, which can then be loaded onto the card and spent anywhere Mastercard debit is accepted.

Card holders can also withdraw U.S. dollars from #ATMs and make online purchases. BitPay CEO Stephen Pair told Cointelegraph that the BitPay Card is specifically targeted at crypto holders, serving as a tool to provide a convenient way to access spending power.

Like traditional prepaid cards that function without bank accounts, the BitPay mobile app allows card holders to reload their balances, view transaction history and manage their card settings. The BitPay Card supports Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), XRP and stable coins including USDC (USDC), GUSD, PAX and BUSD.

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BitPay's Prepaid Mastercard Launches in US to Make Crypto Accessible

Blockchain payments provider BitPay has launched a Mastercard prepaid card for crypto users in the United States. The BitPay Card enables customers to convert their cryptocurrency into fiat, which can then be loaded onto the card and spent anywhere Mastercard debit is accepted. Card holders can also withdraw U.S.

People's Bank of China is ahead in implementing Central Bank Digital Currency (CBDC)

China leads the world in the development of national digital currencies. While other central banks are talking about central bank digital currencies (CBDC), the People’s Bank of China (PBoC) is already trialling its toolkit. Just recently, screenshots emerged of a “digital yuan” interface being piloted at the Agricultural Bank of China (ABC), one of four state-owned banking giants.

That PBoC is first to the CBDC starting line is not surprising. It has been working on the project for six years. Meanwhile, China’s government has made blockchain a national priority in several directions, including the recently launched Blockchain Services Network (BSN), which is now being piloted in Chinese cities and along its “Digital Silk Road” trade routes.

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CoinDesk 50: How the People's Bank of China Became a CBDC Leader - CoinDesk

China leads the world in the development of national digital currencies. While other central banks are talking about central bank digital currencies (CBDC), the People's Bank of China (PBoC) is already trialling its toolkit. Just recently, screenshots emerged of a "digital yuan" interface being piloted at the Agricultural Bank of China (ABC), one of four state-owned banking giants.