The payments industry is in the midst of a significant transition. The traditional players are under pressure from new entrants taking advantage of advances in technology to offer more innovative and convenient payment solutions. This is particularly apparent in mobile payments, where startups are developing new ways to use smartphones and other mobile devices to make payments, which is only one such example. 

FinTech, which is shorthand for financial technology, encompasses a wide range of new technologies used to create innovative financial products and services.

Below, we will look at the most pressing trends in FinTech and explore how they are likely to impact the payments industry in the years ahead. 

1. Mobile Payments 

As we mentioned, mobile payments are one of the most critical trends in FinTech right now. Using smartphones to make payments has proliferated worldwide.

There are several reasons for this. First, mobile devices are becoming more and more commonplace. Today, more people use smartphones than bank accounts. This means that there is a vast potential market for mobile payment solutions. 

Second, mobile payments are convenient. They allow users to make payments without carrying around cash or cards. This is particularly important in developed markets, where people make payments with their smartphones for everyday purchases. 

Third, mobile payment solutions are becoming more and more sophisticated. For example, the use of NFC (near-field communication) technology makes it possible for users to make payments by simply waving their smartphone near a contactless payment terminal.

2. P2P Payments 

Another significant trend in FinTech is the growth of P2P (peer-to-peer) payments. P2P payments are made between two individuals without the need for a third party such as a bank or payment processor.   

The most popular P2P payment solution is PayPal, allowing users to send and receive payments using their email addresses. Other popular P2P payment solutions include Venmo and Square Cash.  

P2P payments are growing in popularity because they are convenient and often accessible. They also offer an alternative to traditional banking products, such as credit cards and wire transfers.

3. Blockchain 

Blockchain is a fascinating technology that underlies Bitcoin and other cryptocurrencies. It is a distributed database that allows for secure, transparent, and tamper-proof transactions.

The use of blockchain technology is increasing in some different industries, including banking, supply chain management, and healthcare. This is because blockchain offers some advantages over traditional database systems. 

For example, blockchain-based systems are more secure because they are decentralized. This means that there is no central point of failure that hackers can exploit. 

Blockchain also has the potential to reduce the costs of financial transactions significantly. This eliminates the need for intermediaries such as banks and payment processors.

4. Artificial Intelligence 

Artificial intelligence (AI) is another area of FinTech that is growing in importance. AI refers to computers to perform tasks that typically require human intelligence, such as understanding natural language and recognizing patterns. 

AI is being used in many different ways in the financial sector. For example, it is being used to create chatbots that can provide customer support and help customers with managing their finances. 

AI is also being used to create predictive analytics tools that can be used to identify trends and make investment decisions. 

5. Biometrics 

Biometrics refers to the usage of physical or behavioral characteristics to identify individuals. The most common biometrics used for identification purposes are fingerprints and iris scans.

It is being used increasingly in the financial sector to improve security. For example, many banks are now using biometric authentication for customers accessing their accounts online or through mobile apps. 

Biometrics is also being used to create digital identity systems. These systems allow individuals to prove their identity online without physical documents.


Only a few of the most pressing trends listed above are currently shaping the future of payments. As the world of FinTech continues to evolve, we can expect to see even more innovative payment solutions that will make it easier and more convenient for us to make and receive payments.

The software development industry is constantly changing and evolving, thanks to the many innovative minds constantly developing new and better ways to create software.

Here are ten of the most impressive innovations that are currently changing the industry.

  1. Big data and analytics

This is a big one. With the ever-growing popularity of big data, it was only a matter of time before software development began to use it. Big data and analytics are being used to help developers create better, more efficient software by understanding how users interact with it.

2. Cloud computing

Cloud computing is another big trend that has a major impact on software development. Cloud-based applications are becoming more and more popular, and developers need to be able to create software that is compatible with this model. Thanks to cloud computing, developers now have access to massive amounts of computing power and storage, making it feasible to construct much more complex applications.

3. Mobile development

With the advent of smartphones and tablets, mobile development has become a huge growth area in the software industry. Developers need to be able to create applications that will run on various devices and operating systems, and they also need to make sure that their applications are user-friendly and efficient.

4. The Internet of Things

IoT is another big trend that is currently changing the software development landscape. The IoT refers to the growing network of physical devices connected to the internet, and it is having a major impact on how software is developed. Developers need to be able to create applications that can take advantage of this growing network, and they also need to make sure that their applications are secure and reliable.

5. Augmented reality

Augmented reality is another hot trend that is starting to make its way into software development. This is the process of adding digital elements to the real world, and it has a lot of potential for use in various applications. Developers need to be able to create software that can take advantage of augmented reality, and they also need to make sure that their applications are user-friendly and efficient.

6. 3D printing

3D printing is another technology that is starting to have a major impact on the software development industry. This is the process of creating three-dimensional objects by printing them layer by layer. 3D printing has a lot of potential for use in various applications, and developers need to be able to create software that can take advantage of it.

7. Automated testing

Automated testing is one of the most important tools developers have at their disposal. This is the process of using software to test other software, and it is essential for ensuring the quality of applications. Automated testing is becoming more and more famous, and developers need to be able to take advantage of it.

8. Big data management

Big data management is another important area that developers need to be aware of. This is the process of managing and processing large amounts of data, and it is becoming more and more important as big data becomes more popular. Developers need to be able to create software that can take advantage of big data management, and they also need to make sure that their applications are secure and reliable.

9. DevOps

DevOps is another hot topic in the software development world. This is the process of integrating development and operations, and it is becoming more and more popular as organizations strive to improve their efficiency. Developers need to be able to work with DevOps tools and processes, and they also need to ensure that their applications are compatible with this model.

10. Blockchain

Blockchain is a new technology that is starting to make its way into the software development world. This is a distributed database that permits secure and transparent transactions, and it has a lot of potential for use in various applications. Developers need to be able to create software that can take advantage of blockchain technology, and they also need to make sure that their applications are secure and reliable.

These are just a few of the many trends currently shaping the software development landscape. Developers need to be aware of these high trends and how they can impact their work. They also need to make sure that they are keeping up with the latest developments to stay ahead of the curve.

Blockchain technology is mainly associated with cryptocurrencies like Bitcoin and Ethereum. However, decentralized applications can be built with various business benefits using Blockchain.

For instance, Blockchain helps you achieve consensus across a network of users to verify the validity of transactions without compromising data privacy or confidentiality. It also allows you to create smart contracts that are executed automatically without human intervention.

Considering the many benefits of Blockchain, it is no surprise that developers are building decentralized applications with this technology. Although you might not need to go all out and create a decentralized application from scratch, if your business can benefit from Blockchain, there are some simple ways you can integrate the technology into your existing systems.

Six Business Benefits Of Blockchain Technology:

1. A Distributed Ledger Can Protect Your Company Against Fraud And Cyber-Attacks

One of the primary goals of doing business is to make profits for shareholders or owners. Most companies track these profits through centralized systems, which become targets for fraudsters who will go to any length to steal money. Global damages from cybercrime are expected to reach $6 trillion annually in 2021, up from $3 trillion in 2015, as reported by Cybersecurity Ventures.

There is no central point in blockchain technology that attacks because the ledger is distributed over a peer-to-peer network of computers. Every time a new transaction is initiated, it’s encrypted and sent to all computers on the web. If one computer tries to alter the ledger, the rest of the copies will still show an accurate record of past transactions.

2. You Can Create Smart Contracts With Blockchain Technology

Today, many businesses rely heavily on contracts because they outline each party’s responsibilities and obligations when working together.

However, manually executing these contracts can be time-consuming and tedious since most transactions are usually based on trust. For example, you may have to check your agreement to see if the other party has fulfilled their end of the arrangement before sending them funds or goods.

With blockchain technology, you can create smart contracts that contain all the contractual elements of a traditional arrangement but are executed automatically when certain conditions are met.

3. Blockchain Helps You Achieve Consensus Across A Network Of Users To Verify Transactions

One of the primary benefits of blockchain technology is that it helps achieve consensus among users over the validity of transactions without compromising data privacy or confidentiality.

Every time there is a transaction in Blockchain, all computers in the network work together to verify that it is valid. Once everything checks out, the transaction will be approved and added to the ledger.

4. Blockchain Gives You An Immutable Record Of Transactions

Another benefit of blockchain technology is that once a transaction has been recorded onto the ledger, it cannot be altered or tampered with– so it is secure. This helps ensure that all your records are accurate and verifiable.

5. Blockchain Helps You Track Goods As They Move Through The Supply Chain

Another use of blockchain technology is to help track goods as they move through the supply chain. This way, businesses can easily monitor their inventory by simply scanning QR codes on each item or checking their ledger records.

6. Blockchain Technology Offers The Ultimate Protection For Data Breaches

Finally, Blockchain is the safest way to protect your business’s data because it removes the risk of exposing sensitive information. Since transactions on Blockchain are anonymous and encrypted, hackers won’t steal any personal or financial information that could harm your company. Digital security is pivotal in today’s world, where cyber criminals constantly threaten businesses of all sizes. A decentralized system of data storage gives companies new ways to protect their most valuable information.

Take Away

 Blockchain technology offers businesses many benefits, but they don’t all have to be completely decentralized.Blockchain helps you achieve consensus among users in a secure peer-to-peer network, which means you can even integrate the technology into your existing systems without having to switch everything up.

Some trends within the blockchain world are now widely considered “new” or “innovative”. This doesn’t mean they haven’t been tried before, but they are trying to take off now.

We’re talking about new consensus algorithms like DPoS, new cryptography methods like zero-knowledge proofs, new privacy-enabling technologies like ZK-snarks, and new scaling techniques like sharding.

They’re highly technical, complex, hard to understand concepts, and often difficult to implement. Machine learning and artificial intelligence (AI) can also take blockchain and cryptocurrencies into the future.

1. AI Revolutionizes Cybersecurity

The more complex our technology becomes, the more vulnerable it gets. Threats are getting more sophisticated, and as predicted, by 2020, we already have 20 billion connected devices available to be hacked. Cyber-criminals are glad because more devices mean more opportunities to steal information.

Luckily, AI can be a powerful weapon against cyber-crime, as machine learning algorithms can detect threats and respond accordingly. They can protect us from the latest threats out there.

2. AI Is The Future Of Smart Contracts

In a few months from now, everything will be smart and automated. This is why we’re bringing you these 3 simple facts: 1) cryptocurrencies are going to explode within the next years 2) machine learning algorithms allow a computer to learn how to do difficult tasks without explicit programming 3) it’s capable of processing large amounts of information.

Although smart contracts are increasingly becoming common, they’re still considered complex to implement and configure. That’s why AI may be the answer. With an intelligent contract platform, developers can create a variety of pre-programmed conditions that the self-autonomous smart contract will follow.

3. AI Is A New Standard For Efficient Computing

Do you know how sometimes you need to run multiple operations at once? You do them sequentially, one after another. But with the use of Artificial Intelligence, you don’t have to wait for a result from one operation to start another.

You can run them simultaneously— concurrently without waiting for the completion of another task. This saves time and energy while allowing you to focus on what’s important — getting the job done.

4. AI Outperforms Humans At Complex Decision-Making

Complex decisions require multiple pieces of information, which you then have to aggregate into one final answer. Humans aren’t excellent at this task — we’re too biased by our personal beliefs and experience to make an objective assessment. On the other hand, AI can look at all possible variables without bias efficiently and make the best possible decision.

5. AI Enhances Security And Privacy

Machine learning keeps us safe from cyber-attacks — but it’s not just about detection — AI algorithms can also respond to them. Because we know that private information should always be kept confidential, AI also ensures encryption of data and access only to authorized parties.

6. AI Is Essential For Future Blockchain Development

As we’ve seen before, blockchain technology is getting more complex with time — the new scaling solutions are just one example of this trend. If we want this technology to go anywhere, it has to evolve. And with AI on our side, we’re more likely to find those solutions faster. And who knows, maybe AI will itself prove to be a solution for many of the issues that blockchain faces today.


AI is the future of blockchain development; it makes cyber-security stronger and more efficiently supports advanced computation by allowing multiple tasks to be completed in parallel. Furthermore, it enhances privacy and is necessary for blockchain development.

Today, mobile users have a plethora of banking apps to choose from that can perform most, if not all, of the tasks they need.

The current banking industry has been running for centuries with many institutes that already have their audience and reputation. Many such banks have increased the security levels around their apps, making it hard to compete against established players. And yet, payment apps are still limited in their capabilities.

This article will discuss some of these main challenges that peer-to-peer payment apps face today and address them.

Peer To Peer Payment- History And Development:

The history of P2P payment in banking goes back hundreds of years thanks to the existence of cash. Cash as a currency is effortless; anyone can use it, and physical notes are much harder to steal than digital data. National currencies have been present for centuries– having one allows people to store money in banks or invest it in the economy.

As money gradually evolved from physical to digital, the usual form of payment shifted to credit or debit cards, as they are straightforward and widespread. However, banks have never allowed users to make direct payments amongst each other with their platforms. This was left for third-party services like PayPal or Venmo, which have revolutionized the way we make transactions today.

A Robust Peer-to-Peer Payment System:

A P2P payment system is an app that allows users to send and receive money directly from one another without a third party. The features of P2P payment apps are usually limited to paying and requesting money and adding or withdrawing funds into the store wallet. The cost of each transaction depends on its size or amount.

P2P payment apps usually have low-security standards as they only include a limited number of features. Users can add funds to their store wallet with either credit cards, debit cards, or bank accounts. 

However, the main problem with P2P payment apps is that security is not considered important enough during the development process because it does not directly impact the end-user.

Blockchain-Based P2P Payment App:

A blockchain-based P2P payment app would require the services of a multidisciplinary team of software engineers with extensive experience in the cryptocurrency sector. When creating such an app, the first step is establishing a secure system for storing fiat currencies into wallets and making them easily transferable between users.

Tokens can then be used for the actual transactions that take place on the blockchain. In addition, users can store tokens in their wallets and make fast, free, and secure payments to their friends or family members without relying on third parties like banks. 

The security of such a payment system would be easy to implement as there are already proven models available. Still, more research is necessary before creating an app that serves this purpose.

The next step would be to create a P2P payment system for cryptocurrencies, which is much more challenging to pull off and requires the expertise of highly experienced developers. Since no token can be used in this payment system, some stable currency needs to represent all types of cryptocurrencies.

The stable currency would have to be backed by a reserve of cryptocurrencies that can be easily purchased in case the value of the regular currency decreases significantly. This approach is already used in financial markets where currencies like Dollars or Euros are backed by Gold and other valuable metals. Still, people need to understand why it’s necessary before implementing it.

Furthermore, the P2P payment app is expected to be released sometime next year. It would show people how blockchain technology can benefit them instead of harming their reputation. At the same time, the lack of regulation in crypto markets has led some countries to ban these types of apps, slowing down their actual development.


Blockchain-based P2P payment apps are expected to disrupt the banking industry by offering users a way to transfer money between one another securely and quickly. The developers will have to create and implement different technological solutions for each part of the P2P payment app:

  • Wallet for storing fiat currencies;
  • Token system for making peer-to-peer transactions;
  • Stable currency backed by cryptocurrencies.

This approach will show people how safe and efficient these types of apps can be in real life compared to their alternative—national currencies— while changing current perceptions about blockchain technology.