My first work Cryptocurrency Business Ideas | Page 12

wallet is transferred to the user which they can use for sending it to the recipient's number.
Easy to use: The app script is easy to use and well designed for anyone who is using the app
for the first time can quickly make a transaction.
What is the significance of a Fintech Blockchain Business?
Facing threats from newer fintech startups and other financial institutions, Banks are slowly
moving towards adopting Blockchain or the distributed ledger technology.
This shifting trend, however has put a lot of pressure on various entities in the Fintech space as
well, namely on financial institutions that deal with cross border money transfer and the ones
that lending money globally.
The reason Blockchain technology plays an important role in transforming the way organizations
work is by ensuring that all the transaction details are transparent and immutable.
Why should you start a Fintech Blockchain Business?
The 2008 financial crisis proved to be a low point, where citizens entrusted their hard earned
money with financial institutions and felt helpless and betrayed when most of the institutions
shut down.
The prominent issue around these institutions is the lack of transparency and trust. At present,
financial/banking institutions are only a handful to cater to a large user base beyond their
capacity and there’s still space in the fintech space for new entrants and more innovative
solutions. Using this blockchain financial services use case as an example or as a foundation
for further innovation, you can start a Fintech Blockchain Business.
What are some of the blockchain fintech services use case?
Most of the present fintech solutions offered are archaic and haven’t been updated to suit the
needs of the present days and needs. However, in the near future, we expect startups armed
with game changing Fintech Blockchain Business ideas would impact the industry.
Some of the Blockchain fintech services use cases that we feel would change the game are:
Blockchain powered Cross-border lending:
The cross border lending business is subject to a lot of regulatory constraints which acts as a
roadblock to global lenders from entering markets in countries other than theirs. Blockchain
powered Cross border lending enables borrowers to receive money from lenders in different
parts of the world. This is achieved by adopting cryptocurrency as a medium of transaction to
lower fees and conversion charges, so the borrowers gets most of the funds with lesser
transaction fee in his local currency.