Cryptocurrency is becoming a global phenomenon, although there is vast unexplored potential. There are thousands of cryptocurrencies that exist, but most of us only know about Bitcoin.
While Bitcoin has out-performed many other cryptos, but others are safer to invest and learn from. This post gives you an idea of how cryptocurrency is more than Bitcoin and changing the landscape of Fintech and other industries.
Crypto and Bitcoin:
Cryptocurrencies have existed since the 1980s, but most people learned about them after the advent of Bitcoin. Founded in 2008, Bitcoin has taken us on a roller coaster ride of epic proportions and created many "new rich" since its inception.
While only a few know where Bitcoin in the future, some experts believe that Bitcoin may acquire value in the coming years, but it's doomed to fail. This prediction calls for learning related to Bitcoin, the other types of cryptocurrency, and how they revolutionize various industries.
Some Ways Blockchain is Revolutionizing FinTech
Blockchain technology is best known as technology fortifying cryptocurrency. Bitcoin, Ethereum, and other 4000 cryptocurrencies operate via blockchain, making it one of the most vital innovations in finance. Here are four ways blockchain is revolutionizing fintech.
Creation of digital ledger
Through time-stamping every transaction and chronological recording, blockchain digitally logs the life cycle of money as it flows. This is important to the banking and accounting industries, as it improves the efficiency of record-keeping, reduces the amount of time and costs involved in manual ledger-keeping.
Protection against fraud
Being decentralized, no one has control of blockchain and can’t be altered. This means a blockchain can log a complete, unchangeable financial record of every transaction, offering huge protection from fraud. Blockchain provides more accountability and eliminates chances of scams.
Removal of third parties
Due to heightened security errors, third parties are impossible in a blockchain because of a decentralized network. Transactions on a blockchain are automatically validated, and you get rid of every layer and pay for what matters.
Democratize money management
The most strategic use of blockchain in fintech has been cryptocurrencies, which allow holding money without a bank. The digital wallets have a private key needed to send and spend crypto and a public address to receive payments. No bank is holding the money!
Blockchain, Cryptocurrencies, and MBA programs
The cryptocurrency craze has brought around many Fintech courses, ranging from blockchain and crowdfunding to peer-to-peer lending and Robo-wealth-managers. Among the popular demand is, of course, blockchain at the top of must-learn lists.
If you’re a FinTech enthusiast, you don’t want to be caught napping while competitors gain an edge through up-skilling. To be a professional, well-versed in fintech, you need to look for banking and finance courses after graduation, courses related to Trade finance or Financial Accounting that enhance your knowledge of Blockchain.
MBA online education and online courses in blockchain tech and cryptocurrencies can boost your knowledge on the subject.
Imarticus offers MBA online education with course frameworks with in-depth learning on subjects like Financial Accounting, Trade finance, Blockchain, and cryptocurrency. Industry experts design the programs to gain better business insights, communication skills, domain expertise, and management skills.
If you’re looking for a banking and finance course after graduation, with an aim to land in the Fintech industry, Imarticus has excellent offers. To learn more about Financial Accounting, Trade finance, and Blockchain courses, go through their course catalog today!