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Finance and Technology

By Josh Wardini

Have you ever wanted to have the best of the two worlds – finance and technology? If you could have both, you’d be more content and life would be easier.

People who want to combine these two worlds don’t have to wait any longer.

Fintech uses technology to streamline all financial things including transactions, transfers, mobile banking, and even cryptocurrencies.

Here’s a quick rundown of Fintech and how it grew so far in the twenty-first century.

Defining Fintech

Broadly speaking, Fintech is any technological novelty in the financial world. People involved in the industry want to find new ways to break down the traditional financial principles and rules.

Companies use Fintech for anything, ranging from simple payment apps to big data and even artificial intelligence. A cash-dispersing machine is a form of Fintech; paying for a hotel on Expedia using PayPal is a form of Fintech; mining Bitcoin is also a form of Fintech.

What Falls Under Fintech

In the previous section, I defined what the Fintech industry is.

But what does that exactly entail?

In this section, I’ll give you a summary of the most well-known innovation Fintech has enabled.


Cryptocurrency is a decentralized digital currency that uses blockchains and encryption to produce more currencies and approve transactions.


Bitcoin is a type of digital currency or cryptocurrency and one of the first to be produced.

It was created as a peer-to-peer payment network that didn’t need governmental authority.


Blockchain helps keep cryptocurrencies running and in circulation.

The blockchain keeps record of all transactions through the networks of cryptocurrency miners.


Ethereum is like Bitcoin – a cryptocurrency produced by solving algorithms. However, it’s a different blockchain network for digital currencies.

Unlike Bitcoin which was made for the purpose of transactions, Ethereum was made for people to design and build decentralized applications. The underlying technology allows for a great number of applications, far exceeding the possible uses of the Bitcoin technology.

There are many more innovations that fall under Fintech. If you’re curious about it, read the infographic below.

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