What Does Fintech Mean?
The term “fintech,” sometimes capitalized “Fintech” or “FinTech,” is a general comprehensive term for financial technologies, many of which are rapidly changing the financial industry. As a portmanteau of the words “finance” and “technology,” fintech is often used by technology journalists and others to describe technologies as diverse as cryptocurrency tools, financial transaction platforms and industry-specific middleware programs.
Techopedia Explains Fintech
One example of fintech is the blockchain ledger technology tied to cryptocurrencies like bitcoin. As an alternative to traditional accounting, blockchain provides a ledger that is set in stone and cannot be falsified in particular ways that have traditionally driven embezzlement and corruption.
