Fintech
When financial technology meets fun to create online opportunities
When it comes to the heady world of global finance, the topics we could delve into are almost limitless. From the chatter on the NASDAQ to the latest vicissitudes of the FTSE, from the growing use of the euro as new countries join it, to the value of the mighty US dollar, and these are just a few pearls of conversation to start with.
One discussion that will always be relevant in the current climate is the impact of the digital revolution on finance. What has technology done to change global finance, what impact has it had on various sectors, and what opportunities have been and are continually being created?
That last sentence above and what it details is, in itself, a complex topic. Even so, it is a topic that always deserves further content and deserves a deeper dive into what this all means for global finance and the industries that are growing as a direct result of such fiscal and technological advances. To begin with, let’s take the online casino sector as an example. Without technology this wouldn’t be an industry but, and this is important, without FinTech it would never have become a multi-billion dollar industry like it is now. Whether it’s playing poker on the phone in London to pass the time on the road, enjoying some roulette on your tablet on the train to Paris just for fun, or playing online slots in Canada for real money on your laptop as a weekend pastime, this is an industry that has harnessed the power of FinTech and combined it, very successfully, with the opportunities that online entertainment has to offer. In fact, it has taken the land-based casino landscape and brought it to the online masses.
Of course there’s more to discuss, but you might be starting to see my point. As the title suggests, from the world of high finance to the Five Card draw, the meeting of fintech and online entertainment has been a perfect marriage, so to speak. But how far have FinTech technological advances brought the world of online entertainment opportunities, and how are these two digital developments so seemingly and intrinsically linked? Well, if we think about the fact that both FinTech and online entertainment are global giants that complement each other, this could be a good starting point.
Digital developments lead to increased revenues from online entertainment
I think it’s fair to say that the digital developments that have not only brought the Internet to the world, but made it an everyday reality for billions of users, have created a wealth of opportunities for many around the world. By this, to be clear, I mean opportunities both for those in any type of digital or online business, and for those who enjoy online entertainment as a pastime. Think about it for a moment and you will probably be able to name, almost immediately, a form of online entertainment or a pastime that you enjoy, and even the last tax transaction you made that was made possible by digital development. Well, you’ve already thought of more than one, I suspect.
For tech entrepreneurs, everything from the world of eCommerce to iGaming has created an entirely new industry that combines FinTech and virtual entertainment. Likewise, for anyone, and there are billions of us, who love to enjoy online entertainment, the options are too numerous to count and the variety of virtual entertainment options almost endless. Check someone out web content focused on financeyou’ll soon see the convergence between technology and online gaming, for example, and how these two sectors overlap and, in many ways, fuel each other’s rise to greater heights.
The fun revenue comes to those who are creating these virtual playgrounds, and without the FinTech element, some of these sites, apps, and forms of digital revenue drivers wouldn’t even exist.
The future looks bright for digital finance and related sectors
I don’t have a crystal ball and I don’t have the ability to predict the future with certainty. If I did, my financial future would be that of a lottery win, but I digress. What I can do, however, is look at the present, at how we got here, and suggest the trajectory that might be likely when it comes to digital finance and the growth of some related industries. As discussed previously, one of the many ways FinTech is used is to protect and preserve the integrity of financial transactions and activities. Whether it’s trading stocks and shares online or making daily contactless payments, booking a holiday online or playing poker in a global online tournament, the security offered by FinTech is increasingly sophisticated. Ultimately, this makes the world of online entertainment, especially when payments or tax transactions are involved, safer and more inviting.
Furthermore, this is a big deal for many in the FinTech world. Of course, there are many digital finance sectors that are thriving, growing and becoming global success stories. When you look at the number of Fintech startups, however, you will soon see that it is part of the digital finance sector that is doing particularly well. On top of that, eCommerce continues to grow, the number of digital transactions made each day globally continues to grow exponentially, and online entertainment platforms are becoming increasingly difficult to count.
From companies processing such payments to those investing in online leisure, it seems to me that when FinTech meets fun, the opportunities are almost endless, and this could be the future for this and all other related industries, both within and outside of finance. .