Innovation in Services. How crypto projects and fintech institutes unite

May 23, 2018 · 5 min read

Blockchain technology is a field to watch as it has taken the world — including the financial and banking sphere — by storm. The obsession with blockchain was at its highest at the end of 2017, but subsided in early 2018 due to the poor performance of Bitcoin and other cryptocurrencies. []

But even with these ups and downs, this innovative technology seems to have surpassed the limitations imposed on it by general skepticism around cryptocurrency. While individuals are trending this space with a lot of caution, fintech companies seem to have just realized the potential of blockchain technology.

This can be seen through the numerous fintech blockchain projects that are in motion this year. Among the most promising ones include the FIC Network, OmiseGO (OMG), XRP, REQ, MLT, 0X (ZRX), BitShares (BTS), and Waves (Waves).

FIC Network

Cryptocurrencies are still limited in dealing with fixed income instruments. This is what the FIC Network project is aiming to solve. The FIC Network is in the process of developing a blockchain-based network that will enable the trading of institutional fixed-income products. In simpler terms, the FIC Network wants to ease the buying and selling of fixed income securities such as bonds, loans, and asset-backed securities. []

At the moment, the FIC Network is targeting institutions such as banks, asset managers, investment banks, insurance companies, hedge funds, and fixed-income funds. Other companies that will be allowed access to the FIC Network system include rating agencies, valuation firms, law firms, and government regulators, who will be allowed to have read-only access to the platform.

The FIC Network token sale was arranged in three waves: a private sale, a pre-sale, and a public sale. The FIC utility token (eFIC tokens) have been going for $0.10 per token, and will enable individuals to perform different activities on the FIC Network such as trading, listing, and holding of financial instruments.

An estimate of the project in terms of performance shows this is a very ambitious project whose victory might have a significant impact, especially if it is adopted for mainstream use.

OmiseGo (OMG)

Another promising project apart from the FIC Network is OmiseGo, which started in 2013. OMG tokens are issued on the Ethereum blockchain, and are associated with OmiseGo, which provides (an) online payment service to residents of Southeast Asia. The project utilizes blockchain’s decentralized nature to reach millions of people in this region, and its partnership with some financial entities in Southeast Asia shows the OmiseGo team’s grit and abilities.

OMG’s main goal is to provide superior payment services to all, including those in developing nations, and those who use traditional banking services. OmiseGo hopes to solve the coordination problem experienced by financial institutions, gateways and payment processors.

With OmiseGO, there will be no delayed processing of transactions and this is a big breakthrough since it will enhance its mainstream application and acceptance. []

Currently, (не нужна запятая) OmiseGO‘s future looks bright, mainly due to its partnerships with Thai government and McDonald’s.

Request Network (REQ)

Just like FIC and OMG, REQ is also a very promising project. The Ethereum-based platform is a decentralized network that allows users to create Request Invoices to request and receive payments securely. Among its latest ventures was the REQ mainnet that was launched in mid-March, and a number of new partnerships with various firms such as Francophone Africa and PwC for professional services. Such partnerships are vital as they will hasten REQ’s mainstream adoption.

REQ has been dubbed as the PayPal of blockchain, although it is both cheaper and faster than PayPal.

There is even a likelihood that when it achieves total mainstream acceptance, REQ might surpass PayPal and other institutions such as MasterCard and Visa. This is because with REQ, buyers and sellers no longer have to worry about charges during transactions.


A look at REQ’s developments and partnerships clearly shows that REQ is one project to keep an eye on, just like the ones previously mentioned.

Ripple (XRP)

Ripple also falls among the projects that might bring blockchain technology to the mainstream. Since its inception in 2012, Ripple has been among the leading blockchain projects.

Ripple’s initial aim was to create a system for decentralized and streamlined worldwide payments. The firm is slowly achieving this objective. The RippleNet platform allows for the recording of transactions.

Ripple has won the acceptance of many financial institutions and member banks, and has changed the way financial institutions operate as banks can now make secure and efficient cross border payments.


Among the newest technologies that are benefitting fintech companies is Riplle’s XRP ledger. An innovative blockchain-like system that was designed to allow transactions with multiple currencies, the XRP ledger makes it possible to trade and track multiple currencies in a single decentralized network.

Other important features include Ripple’s support of payment channels and Escrow, which allows the sending and receipt of conditional payments.

Because of Ripple, financial institutions can now send and receive transactions with minimal cost. When combined with the growing customer base, these things are strong indicators of potential for Ripple’s growth in the future.

Metal (MLT)

Another special fintech project that investors need to watch is Metal (MLT). This currency is different from others as it is distributed through the PoPP (Proof of Payment Process). Users earn rewards by sending money and making purchases.. As a result, Metal has built its popularity around the ability to pay its users after receiving and sending payments. []

If you ask me about the future of Metal (MLT), I would say that the future is bright. With the development of the MetalPay app, there is nothing that can stop Metal from being the one to break the barriers surrounding the mass adoption of cryptocurrency.

Other Projects

Other emerging projects to look out for this year include Bitshares (BTS), Waves (WAVES), and 0x (ZRX). 0x uses a protocol under the same name that allows for decentralized exchanges to be integrated into decentralized applications. Waves, on the other hand, works to reduce volatility by allowing the creation, exchange and transfer of fiat tokens using blockchain. The same applies to Bitshares, which is commonly labelled as the NYSE for cryptocurrencies.


CINDX is an investment platform that allows its users to combine several crypto exchange accounts into one trading terminal, and gives them the option to copy the best managers without having to transfer their funds.

Moreover, implementation of blockchain-based transactions on CINDX will allow its users’ trading history to be saved. A reputation rating system will be used to differentiate the successful managers from the less-successful ones.

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