ICT PPT April 28 2024

Presentation On:
BlockChain & FinTech
Presented By,
Anik Kumar Kundu ACMA, ITP, LLB
Deputy Manager, Cost & Budget, Beacon Group
Part-time Faculty & Trainer, ICMAB
Date : 28 Apr, 2024
Blockchain
A blockchain is “a distributed
database that maintains a
continuously growing list of ordered
records, called blocks.” These blocks
“are linked using cryptography. Each
block contains a cryptographic hash
of the previous block, a timestamp,
and transaction data. A blockchain
is a decentralized, distributed and
public digital ledger that is used to
record transactions across many
computers so that the record cannot
be altered retroactively without the
alteration of all subsequent blocks
and the consensus of the network.
Date : 28 Apr, 2024

Types of Blockchain
Technologies
At a glance, there are four different types of blockchain
technologies. They Include the following:
o Public Blockchain
o Private Blockchain
o Hybrid Blockchain
o Consortium Blockchain
Date : 28 Apr, 2024

Public Blockchain
These blockchains are completely open to following the idea of
decentralization. They don’t have any restrictions, anyone having a
computer and internet can participate in the network.
▪ As the name is public this blockchain is open to the public, which
means it is not owned by anyone.
▪ Anyone having internet and a computer with good hardware can
participate in this public blockchain.
▪ All the computer in the network hold the copy of other nodes or block
present in the network
▪ In this public blockchain, we can also perform verification of
transactions or records
Date : 28 Apr, 2024

Private Blockchain
These blockchains are not as decentralized as the public
blockchain only selected nodes can participate in the process,
making it more secure than the others.
▪ These are not as open as a public blockchain.
▪ They are open to some authorized users only.
▪ These blockchains are operated in a closed network.
▪ In this few people are allowed to participate in a network within
a company/organization.
Date : 28 Apr, 2024

Hybrid Blockchain
It is the mixed content of the private and public blockchain, where
some part is controlled by some organization and other makes are
made visible as a public blockchain.
▪ It is a combination of both public and private blockchain.
▪ Permission-based and permissionless systems are used.
▪ User access information via smart contracts
▪ Even a primary entity owns a hybrid blockchain it cannot alter
the transaction
Date : 28 Apr, 2024

Consortium Blockchain
It is a creative approach that solves the needs of the organization.
This blockchain validates the transaction and also initiates or
receives transactions.
▪ Also known as Federated Blockchain.
▪ This is an innovative method to solve the organization’s needs.
▪ Some part is public and some part is private.
▪ In this type, more than one organization manages the
blockchain.
Date : 28 Apr, 2024

Advantages & Disadvantages
of Blockchain
Advantages: Disadvantages:
▪ It provides greater trust among • Data modification is not possible.
users.
• It requires large storage for a
▪ It provides greater security
among data. large database.
▪ Reduce the cost of production. • The owner cannot access the

private key again if they forget or
▪ Improve Speed. lose it.
▪ Invocation and tokenization.
▪ It provides immutable records.
▪ Smart contracts
Date : 28 Apr, 2024
For Blockchain, a Coming
Wave of Change?
o Currencies: the vanguard of blockchain
technology
o Digital content: blockchain and rights
management
o Patents: protecting innovators while
incentivizing innovation
o E-voting: revolutionizing the electoral
system
o Smart contracts: if code were law
o Supply chains: transparency and
accountability at last
o Blockchain states: rethinking public services
Date : 28 Apr, 2024

Financial Technology (Fintech)
▪ Fintech refers to the integration of technology
into offerings by financial services companies
to improve their use and delivery to
consumers.
▪ It primarily works by unbundling offerings by

such firms and creating new markets for them.
▪ Companies in the finance industry that use

fintech have expanded financial inclusion and
use technology to cut down on operational
costs.
▪ Fintech funding is on the rise, but regulatory

problems exist.
▪ Examples of fintech applications include

robot-advisors, payment apps, peer-to-peer
(P2P) lending apps, investment apps, and
crypto apps, among others.
Date : 28 Apr, 2024

Current trends in Financial
Technology
Demand for Fintech and digital banking products, already rising steeply
before the COVID-19 pandemic set in last year, was given even greater
impetus during 2020 and is likely to have gained years of ground in what
has been and extraordinary year.
Microservices:
▪ Microservices - also known as the microservice architecture - is an
architectural style that structures an application as a collection of
services that are:
▪ Independently deployable
▪ Loosely coupled
▪ Services are typically organized around business capabilities. Each
service is often owned by a single, small team.
Date : 28 Apr, 2024
Technology
Artificial Intelligence:
Artificial intelligence is a broad field, which refers to the use of technologies to build machines and computers
that have the ability to mimic cognitive functions associated with human intelligence, such as being able to
see, understand, and respond to spoken or written language, analyze data, make recommendations, and
more.
Although artificial intelligence is often thought of as a system in itself, it is a set of technologies implemented in
a system to enable it to reason, learn, and act to solve a complex problem.
Machine Learning:
Machine learning is a subset of artificial intelligence that automatically enables a machine or system to learn
and improve from experience. Instead of explicit programming, machine learning uses algorithms to analyze
large amounts of data, learn from the insights, and then make informed decisions.
Machine learning algorithms improve performance over time as they are trained—exposed to more data.
Machine learning models are the output, or what the program learns from running an algorithm on training
data. The more data used, the better the model will get.
Date : 28 Apr, 2024

Technology
Decentralized Finance:
Decentralized finance, or DeFi, uses emerging technology to remove third parties and centralized institutions from
financial transactions.
The components of DeFi are cryptocurrencies, blockchain technology, and software that allow people to transact
financially with each other.
DeFi is still in its infancy and subject to hacks and thefts because of sloppy programming and a lack of security testing
before applications are launched.
Predictive Analytics:
Industries from insurance to marketing use predictive techniques to make important decisions.
Predictive models help make weather forecasts, develop video games, translate voice-to-text messages, make
customer service decisions, and develop investment portfolios.
Predictive analytics determines a likely outcome based on an examination of current and historical data.
Decision trees, regression, and neural networks all are types of predictive models.
People often confuse predictive analytics with machine learning even though the two are different disciplines.
Date : 28 Apr, 2024
Fintech and the Future of
Finance
The financial technology (fintech) industry is evolving rapidly and is having a major impact on the banking
sector. Fintech companies are using innovative technologies to offer new and improved financial products
and services, which is challenging traditional banks to adapt or risk being left behind.
Here are some of the ways fintech is shaping the future of banking:
Digital banking: fintech companies are leading the way in digital banking, offering customers a convenient
and seamless way to manage their finances online and through mobile apps. This is forcing traditional
banks to invest in their digital platforms to compete.
Payment innovations: They are also disrupting the payments landscape, offering new and faster ways to
make payments, such as mobile wallets and peer-to-peer (P2P) payments. This is making it easier for
customers to send and receive money, and is also opening up new opportunities for businesses.
Alternative lending: Fintech companies are also offering alternative lending options to consumers and
businesses, which is challenging the dominance of traditional banks in the lending market. These new
lending options are often more accessible and affordable than traditional bank loans, and are helping to
make financial services more inclusive.
Data analytics: FinTech's are using data analytics to gain insights into customer behavior and preferences.
This data can be used to develop new products and services, as well as to improve the customer
experience. Traditional banks are also beginning to embrace data analytics, but are trying to catch up
with the fintech industry.
Date : 28 Apr, 2024

Date : 28 Apr, 2024

ICT PPT April 28 2024

Uploaded by

Copyright:

Available Formats

ICT PPT April 28 2024

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

ICT PPT April 28 2024

Uploaded by

Copyright:

Available Formats

Presentation On:

BlockChain & FinTech

Date : 28 Apr, 2024

Date : 28 Apr, 2024

Date : 28 Apr, 2024

Date : 28 Apr, 2024

Date : 28 Apr, 2024

Date : 28 Apr, 2024

▪ Reduce the cost of production. • The owner cannot access the

Date : 28 Apr, 2024

▪ It primarily works by unbundling offerings by

▪ Companies in the finance industry that use

▪ Fintech funding is on the rise, but regulatory

▪ Examples of fintech applications include

Date : 28 Apr, 2024

Date : 28 Apr, 2024

Date : 28 Apr, 2024

You might also like