Financial Management by Advanced Technical Tools

By what method would suppliers be able to contend in a domain that seems to manage the cost of purchasers? Gaming is a necessary piece of the provider’s endurance technique, so we outline our contentions for these endurance methodologies inside the setting of the financial matters of data in an advanced economy.

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Newer Business Models and Emergence of Fintech

Money related markets overall were significantly influenced by the web insurgency during the 1990s, with one of the significant impacts being that it brought down expenses for budgetary exchanges. Innovative advances driven by the web upset changed the essence of the budgetary administrations industry and prompted the improvement of electronic money (e-account). E-money alludes to all types of budgetary administrations, for example, banking, protection, and stock exchanging performed through electronic methods, including the web and World Wide Web. E-money permits people or organizations to get to accounts, execute business, and get data on budgetary items and administrations without being in physical contact with monetary firms.

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E-Payments – A viewpoint from the Transaction Cost perspective

As per a recent article in the economic times, the Bank of Baroda will not levy any charges on digital transactions for the next three months. This is in the wake of Coronavirus pandemic where Bank of Baroda is looking to promote digital payments and encourage more customers to avail banking services digitally, without visiting branches.

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BLOCKCHAIN FOR SMART CONTRACTS AND ITS IMPACTS

As early as 1991, the concept behind blockchain technology was pronounced when research scientists Stuart Haber and W. Scott Stornetta presented an applied solution for time-stamping digital documents in order that they might not be backdated or tampered with.

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Possible Role of Cryptocurrency in Post – Covid Era

Let’s dive into various pointers that signify the role of cryptocurrency post Covid era:

  • During pandemic crisis of coronavirus government and banks observe a high risk factor in handling of cash because paper currency has a high potential to carry virus and bacteria as it involves change of hands between unknown people many times a day. Previous researches during 2015-16 in India have concluded that almost 60-90% of currency collected from various peoples including doctors contained virus, fungus, bacteria and other pathogens that can cause various diseases. Some of the major institutions like Deutsche Bank has stated that this pandemic could be the tipping point for digital currency adoption. To overcome the spreading of virus through currency notes, people/ institutions will start adopting digital payments systems like cryptocurrencies. This will also lead to new job opportunities being created in this domain.

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