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Author Topic: The 4 cores of fintech  (Read 452 times)

Offline allcoinsmoon

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The 4 cores of fintech
« on: January 30, 2019, 06:00:58 PM »
Financial technology, often shortened to FinTech or fintech, is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance. The use of smartphones for mobile banking, investing services and cryptocurrency are examples of technologies aiming to make financial services more accessible to the general public.
credit: Wikipedia

Four technology families are at the core of fintech: the IoT, big data, AI and blockchain.

The Internet of Things refers to data derived from the rapidly expanding number of Internet-connected devices, from smartphones to weather stations to toasters.

Big data is essentially any dataset that is sufficiently complex to handle, requiring extra expertise beyond traditional analysis. big data is a dataset with high volume (size and storage), high variety (many types of data), fast velocity (frequency of collection) or variable veracity (confidence). Sometimes a fifth dimension, value (specific use and application), is used, which is especially relevant for personal, private or sensitive data like healthcare records or traditional ecological knowledge.

AI uses machine learning from big data to "learn" how to accomplish tasks, whether recognizing patterns, producing human-like chatbots or driving vehicles. In simpler forms, it has been used for years to detect credit card fraud or recognize faces in social media posts. AI excels at recognizing context where simple threshold-based algorithms failed. The statistical heft behind AI can be appropriate. Adding human-like pattern finding in images, chat logs and complex datasets may help experts manage the flood of data.

Blockchain allows for a single piece of digital data to be tracked from its source with an encrypted stream of information that can only be decoded by a distributed peer-to-peer network. Blockchain makes data more trustworthy, to both data providers and users, allowing each to be certain of its provenance and integrity.

Offline Frankbof

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The 4 cores of fintech
« Reply #1 on: April 06, 2019, 04:39:29 PM »
yep the foam cores are light. they are things of soul and beauty too.
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