The year 2016 brought a revolution in the fintech sector, with many big and small companies opting to choose advanced technologies like Cryptocurrency for their financial solutions. Increasing usage of this technology had already made blockchain technology popular in the industry last year.
However, as per the author of a leading online technology magazine, 2017 will be a ground-breaking year for Blockchain. Claiming a success rate of 75% in their previous prediction, this author has claimed that 2017 will see a drastic fall in the number of fintech companies. Some major reasons include a shift towards different verticals apart from fintech, cost cutting and a strong competition from the likes of start-ups, mergers, acquisitions and partnerships.
Such circumstances will soon force major fintech companies to opt for providing services to the investors directly. This is where the blockchain enters the fray. And the increasing usage of asset-backed crypto-tokens is a clear sign to what 2017 holds for blockchain technology, unless Brexit decides to delay the party.