Page 1

Fintech and Cryptocurrency

Avishai Marziano

is a telecommunications executive who has worked in the industry for more than 20 years.


Avishai Marziano

Fintech and Cryptocurrency The term “fintech� has been popularised in the media through association with cryptocurrency. In the modern world, fintech relates to all manner of financial services, particularly banking, but it still underpins digital currencies.

Blockchain Cryptocurrency is a unique form of digital money that works through a decentralised system utilising blockchain technology. Blockchain ensu2

res security through a ledger system that confirms all transactions in a series of blocks. A peer-to-peer user network validates each transaction, which can then be altered without consent from a majority of users. This prevents security issues such as double spending and fraud or theft. Additional security is provided as all users are accountable.

Mining The process of authenticating each transaction within blockchain is called mining. Miners keep the process secure by adding new blocks in chronological order, decoding and keeping transactions in the queue. Miners can also generate new units of cryptocurrency by solving cryptographic challenges. This serves the dual purpose of issuing units of currency and providing motivation for people to mine.


Fintech may have its roots in cryptocurrency but today it is used across a wide variety of industries.

3


You can learn more about fintech trends by visiting

the blog of Avishai Marziano.

Profile for Avishai Marziano

What Is Fintech and What Is it Used For?  

Fintech is a portmanteau of financial technology and refers to a relatively recent form of technology devised for the purpose of automating,...

What Is Fintech and What Is it Used For?  

Fintech is a portmanteau of financial technology and refers to a relatively recent form of technology devised for the purpose of automating,...

Advertisement