Fin-tech industry is evolving and its happening at a pace you can’t even imagine.
Finances are backbone of any civilization, be it the barter system in stone age which introduced the concept of trades or the credit cards in 1950’s which changed the face of how we use the money, finances have been making and breaking the civilizations. The very fact that we have once used gold coins, then silver and then copper and now we simply use paper currencies, should give an insight on how diverse the face of money has been over the civilizations.
Finances have been evolving over the time, and the evolution of fin-tech is only at a scale which we humans can adjust to. The last 100 years, known to humans as the era of technology, saw an exponential burst of technological advancements. From Transistors to the recent crypto hardware wallets, the transformation has been outstanding and amazing, however it hasn’t stopped, it’s still going on.
Fin-tech industry is right now in the midst of one more such transformation, i.e a change from traditional banking to crypto banking. A Crypto banking platform is the next generation banking service wherein the concept of money is all crypto, meaning the fiat money which we know as dollars, pounds etc. are all replaced by crypto-currencies. However, most of the countries haven’t embraced crypto-currencies to replace the fiat as of now, and it will take an easy 10–15 years for that to happen. Despite contingent rules against crypto-currencies from the governments, people have already started using the crypto-currencies for their daily online shopping purchases, for freelancing and all kind of activities wherein they can use the crypto-currencies as a mode of payment. To leverage this adaptability and further ease the process of moving people from traditional banks to Crypto bank, hybrid banks like Cashaa have come to existence. Unlike the Crypto banks which only deal with Crypto, hybrid banks like Cashaa will deal with fiat currencies, yet utilize the Crypto Currencies behind the scenes.
Although future is all going to be about Crypto banks, but people aren’t ready for a pure Crypto bank yet. So until this future becomes a reality, people would be on boarding onto these hybrid banks to taste the best of both worlds.
Cashaa banking platform isn’t just a next crypto buzz but in fact it is a necessity to all those Crypto companies which have been denied banking services. As most of the world governments are still hostile towards crypto-currencies and companies dealing with them, Cashaa found the niche in Banking the Un-banked. A crypto company can’t really pay their employees in crypto-currencies as not everybody wants to get paid in crypto. So they have only two options, either shut down the business or get an account with a hybrid banking service provider like Cashaa which deals with both crypto and fiat. Not to forget, Cashaa isn’t just an Idea on some random whitepaper, but it is a real product with real banking services scheduled to launch on November 28th 2018.
That is how technology is, if someone puts a no entry sign to it, then someone else will carve a completely new way for it. In fact, these kind of restrictions and hurdles is the reason why blockchain technology companies are growing and expanding exponentially these days.
So to reiterate my initial point, the blockchain revolution and the transformation of fin-tech industry is real and happening at a pace which we can’t even imagine.
