“It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.” Charles Darwin, 1809
Thanks to new technologies in fintech, major breakthroughs are being made in areas such as money transfer, retail banking, online lending, financial literacy, credit ratings, and there’s even been the dawn of crypto-currencies such as bitcoin. Collectively these have come around to disrupt the status quo in financial services, now penetrating almost every area of a sector known to be historically conservative to change. And by transforming the system and making it increasingly efficient, fintech is a field well-positioned to truly change how we go about business. There’s a reason why fintech startups exceeded $38 billion in 2016: its innovations today already help reduce costs, enable companies to provide differentiated offerings, and improve customer retention.
Taking center stage in the market is blockchain technology, which can potentially reach over $2.6 billion by 2022. Blockchain technologies stand to benefit from the growing confidence in its disruptive ability to generate immense value in payments, settlements, and clearing in securities processing by making financial services safer, faster, cheaper, secure, and transparent.
The United States represents the largest fintech market worldwide, due primarily to the early adoption of these technologies in the US compared to other geographic markets, as well as the presence of a vast number of startups with innovative blockchain-based applications in development.
We’re thrilled to offer a fintech-specific track at TiEcon 2017 for entrepreneurs in this exciting field to learn from those currently shaking it up.