Question 1

Is PayPal a Fintech?

Accepted Answer

Yes, PayPal is a fintech or financial technology platform, it clearly fits the definition of any business that offers online or integrated financial services (such as banking, credit, insurance, or investments) primarily through the use of technology. In fact, it’s one of the biggest players in the fintech market.

Question 2

Will Fintech replace banks?

Accepted Answer

Fintech has several advantages over traditional banking institutions that allows operators to be more innovative and to deliver services to their customers more quickly and cost-effectively. This has enabled fintech to shake up and disrupt the financial services industry.

Question 3

What is Blockchain FinTech?

Accepted Answer

A blockchain or distributed ledger is a decentralized database that exists in identical copies on devices all over the world, belonging to all the people who are part of that particular blockchain network.

Question 4

What are the top Financial Technology companies?

Accepted Answer

As of May 2020, the top fintech companies in the world include the following:

Adyen: Based in the Netherlands, Adyen serves over 4,500 businesses, processing mobile, online, and in-store payments. Clients include Facebook, Uber, Netflix, Spotify, L’Oréal, Burberry, Symantec, and Microsoft….

Question 5

Is Bitcoin a FinTech?

Accepted Answer

Yes — one of the factors that first propelled financial technology or fintech into the public consciousness was the development and trading of cryptocurrencies, of which Bitcoin is probably the best known. Bitcoin was also the first widely recognized application of blockchain technology.

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