In the world today, we can’t deny how much society is moving forward into a more complex blockchain-wired fintech future. Its growing market is due to more private organizations participating in the industry, creating a vigorous fintech stage.
Why Is Fintech A Perfect Match for the Financial Industry?
There is a crucial factor that enables the growth of the blockchain fintech market: its compatibility with the financial industry ecosystem like the ability to allow faster transactions. Also, the decentralized nature of blockchain allows many private players to take part and make blockchain more accessible for end-users. The result is an adopting pattern that is driven by general buyers rather than IT vendors because of personalized interest.
How Does This Affect the Financial Industry in Southeast Asia?
Fintech in Southeast Asia becomes an industry that is expected to generate up to $1 Trillion by 2025. It is because of several factors: not only the young population that can adapt to new technologies quickly but also the underbanked who need an alternative route to participate in the economy. From an entrepreneur’s point of view, this means the chance to penetrate the market because of the lack of competitors. There is also the flexibility of private players that accommodate to marginalized needs better than conventional banks.