We all know that 2020 is a year of paradigm shift. The financial infrastructure has reached its limits. However, the end of the year is approaching and a new spark of hope is emerging. Against this background, Finance Magnates is interested in what will be on the 2021 Fintech “menu”.
Here is what the experts say:
Securrency spokesman Jason Mueller told Finance Magnates that one of Fintech’s most important trends is directly related to how people view their financial lives.
Mueller explained that the pandemic and the resulting closures have raised questions among people about what their financial security alternatives might be. In other words, when the economy suffers, when people lose jobs, the concept of the perception of “money” also changes.
“The longer a pandemic lasts, the more people get used to it. Consequently, they will adapt to alternative forms of financial income even faster,” Mueller said.
After all, the fluctuations that have shaken the entire global economy have completely changed the perception of financial stability as well.
In the post-pandemic period, it is hoped that lawmakers will take a closer look at how the aging tax infrastructure has negatively affected the economic situation of millions of Americans.
The growing popularity of cryptocurrencies – the most important fintech trend of 2021?
One of the benefits of this change in the perception of the traditional financial ecosystem is the cryptocurrency space.
Ian Balina, founder and CEO of Token Metrics, told Finance Magnates that next year, in terms of Fintech development, he sees ways to adopt and develop cryptocurrencies.
For reference, Token Metric is an artificial intelligence-focused cryptocurrency research company that uses artificial intelligence to make accurate predictions of cryptocurrencies, rankings, and prices.
“The most important fintech trends of 2021 will be cryptocurrencies. We think that Bitcoin will surpass the all-time rate and the price per bitcoin will rise to 20 thousand US dollars. “This mainstream is getting a lot of media attention,” Balina said.
Gregory Cue, founder of the DMM Foundation, also believes that cryptocurrencies will play an even more important role next year.
“After the pandemic, digital assets will be much more integrated into our monetary systems, which may even become the basis for a new global economy. As a result, we will get digital currencies from the central bank,” Kyu said.
P2P-based financial services will play a more important role than ever before
Analysts have found that demand for P2P financial services is growing.
LiquidApps CEO and founder Benny Hakak told Finance Magnates that the development of P2P technologies is attracting consumers and making them even more in demand.
Hakak noted that the role of P2P financial services is particularly important in developing countries.
Within the cryptocurrency ecosystem, the growth of the P2P system is largely due to the growing importance of Decentralized Finance (DeFi) in providing services such as asset trading, lending and interest.
Investment programs are moving to more and more new customers
During the pandemic, DeFi-based cryptocurrency assets also gained great popularity.
“Online investing has grown as more people are looking for additional sources of passive income and money making,” says Gregory Kew.
Investors are looking for new ways to earn revenue. Robinhood, for example, has seen tremendous growth with new investments. They trade Dogecoin cryptocurrency, which is affiliated with TikTok.
“This part of the new investors will be the future of investment,” Balina said.