Despite Bitcoin's slump, blockchain and fintech prosper

16.08.2018 / 17:03

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The changes in financial technologies since the financial crisis are remarkable, if we compare PayPal in the 2000-2010 period with the flexibility and accessibility of today's fintech platforms like Venmo (owned by PayPal) and Square Inc.

Among the most exciting companies is the German start-up Deposit Solutions, which offers a platform that allows you to deposit money in a higher-yielding savings deposit without opening another bank account. In this way, if one bank has excess liquidity it can transfer the funds to a bank that suffers from a liquidity shortage by using Deposit Solutions' platform. Currently, there are 70 banks from 16 countries that are registered on the platform. In its most recent round of funding, the company was valued at $500 million; one of the earliest investors in the company is Peter Thiel.

Despite the slump in bitcoin's price (as well as that of other crypto-currencies) many young companies are exploring different DLT (distributed ledger technology) solutions in sectors ranging from finance to public administration.

Source: Business Insider

Image: pixabay.com

Trader Velizar Mitov

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Despite Bitcoin's slump, blockchain and fintech prosper

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