2 undeniably important fintech innovations of this decade

Dozens of new fintech projects are launched every single year, but most of them can’t even come close to the 2 most important “updates” that this industry has received in the last 10 years.

Dozens of new fintech projects are launched every single year, but most of them can’t even come close to the 2 most important “updates” that this industry has received in the last 10 years.

These innovations were so big on their own that they have completely separate industries dedicated to them with companies just clinging to implement them on their platforms.

These innovations are trading AI and blockchain. We will discuss each of them in excruciating detail and find out why exactly these two “sectors” are the cream of the crop for the financial industry today.

Trading AI

Artificial Intelligence was already on its way to every single industry way before it reaches finance. But the moment it did, it completely revamped the way we look at speculation and calculation for risky investment opportunities.

The number of ways that AI is used in the financial industry is too long to list here, but we will focus on the most important change that came not only for customers but for service providers as well. And that change is the trading AI.

Why? Because the hours upon hours spent on researching, analyzing, calculating, and finally deciding to place risky trades has pretty much been deleted by this technology. Sure, not everybody uses them yet as it’s not as refined as we’d like it to be, but it does still provide immense value to those who may not have enough time to become a full-time trader anytime soon.

However, one of the biggest advantages that trading AI has brought into the financial industry is the complete removal of human emotion and anxiety when it comes to taking that step and making that risk.

An overwhelming majority of beginner traders always found it very difficult to take that first step and truly initiate their trading careers. By removing emotional stress from trading decisions, the trading AI has made finance a go-to side-hustle or even career for thousands of people.

How did this happen? Well, the first thing was that traders were finally able to see that the calculations they were making and the ideas they had about market movements were correct in some cases. How did they see it? Well, the AI placed the trade for them, which they couldn’t do due to the emotional stress that we mentioned.

Every trade is a huge decision, and there are only so many you can make during the day before you feel burned out.

It’s expected for the trading AI sector to continue growing and pursuing amazing accuracy in the future. But, as we all know, there can’t be 100% accurate software. If there was, then there would be no real speculation to the market, and therefore no real change to pricing.

Now, let’s move to the colossus of innovation, blockchain technology.


Blockchain is not really an innovation of this decade, but it certainly seems to have engraved itself in human history for its performance in this particular 10 year period. It was created in 2008 by Satoshi Nakamoto in an attempt to prevent future financial crises like the 2008 market collapse.

And based on the data we can see in 2020 alone, it’s easy to say that the main goal has been reached. The blockchain market has definitely established itself as the perfect alternative when the traditional markets are struggling. By comparing the issues 2020’s stock market had to the growth that 2020’s crypto market had, we can easily say that BTC may indeed be the new gold.

However, being an alternative to traditional finance is not the only feature that helps the blockchain industry stand out. The most important features lay in its privacy, speed, and affordability advantages. This product is created solely for the benefit of the consumer, who himself/herself runs the whole system. Yes, that’s right. The movement of cryptocurrencies, and their “creation” so to say, is solely dependant on crypto users themselves if they decide to mine blocks within the chain, thus making a blockchain.

The design of the technology makes it so that very few people have access to information about transitions happening within the system, making it one of the most secure platforms for storing data, especially when it comes to finance.

The speed of transaction is also a huge advantage, as Nakamoto wanted to make payments easy and instant for international business. By providing payments with things like BTC and ETH, international payments would be processed in a heartbeat, rather than have to go through a week of approval time from banks.

Unfortunately, though, this feature is slowly diminishing as volumes keep growing for the largest cryptos. Should traders want to retain the same speed, most of them have to dish out significant service fees or wait in line for at least a few days.

Regardless of what’s said though, the blockchain is and will remain one of the most influential financial technology innovations of this decade and probably the next decade as well, unless something absolutely mind-boggling comes out.

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