Category: blockchain

The EdTech Evolution in 2022 and Beyond


EdTech is a broad, rapidly-changing field, with new developments emerging almost daily.

Reviewing the history of educational technology illustrates just how much this sector has changed and evolved over the past century.

From traditional modes of learning like lectures, to computers, interactive software, and more recent approaches such as flipped classrooms and MOOCs, each generation has been defined by the knowledge transmission methods it has used.

The technological capabilities have also advanced over time, leading to bigger and better tools that allow for more students to engage and learn online.

The sheer size and complexity of the field often make it difficult to see the big picture. But that’s what this article is going to do: we’ll look at how EdTech has developed over time, and talk about what to expect for the future of EdTech.

This blog post covers the following information:

  • Definition of EdTech
  • The EdTech Boom
  • The EdTech Evolution: How It All Started?
  • The EdTech Evolution: As of Today
  • The EdTech Evolution in 2022 & Beyond: The Future Trends

What Is EdTech?

EdTech, or education technology, is a broad term that covers any type of technology used in the education field. EdTech can be as simple as a digital textbook, as complex as an online learning platform designed to help students prepare for college entrance exams, and anywhere in between. The goal of EdTech is to take advantage of the power of technology in order to advance education.

The EdTech industry has been growing steadily over the past few years and has seen a recent surge due to the current global health crisis. Global spending on education has almost doubled since 2000, and it’s expected to grow even more in the next decade: the global industry will be worth $7 trillion by 2025. That’s an enormous increase from the $3 trillion in 2000, and it means that education will make up 7% of the world’s GDP.

Fig.1 A graph showing the market rise of global education and training.

While there are many different types of EdTech tools, most of them fall into one of these three categories:

  • Tools for assessing learning, like online quizzes and exams
  • Tools for delivering content, like online courses and ebooks
  • Tools for collaboration, like video conferencing and online communities

EdTech fits into the broader category of “learning technologies.” While EdTech specifically refers to educational technologies that are used in schools or other formal learning environments, learning technologies can be used anywhere—from online training modules required for new hires at companies, to virtual study groups for students preparing for the SATs.

The EdTech Boom

EdTech has been garnering attention for the past several decades, but it wasn’t until the global Covid-19 pandemic that it really caught on worldwide.

In fact, EdTech as a concept—using technology to help students learn or boost a teacher’s effectiveness in the classroom—can be traced all the way back to Plato’s Academy. At the time, platforms were built out of stone and mortar, not electronic ones.

In China, for instance, EdTech was already booming before Covid-19 hit. In 2003, after an outbreak of SARS (severe acute respiratory syndrome), Chinese schools were closed temporarily and classes moved online. In Mexico, which was also hit by H1N1 (swine flu) in 2009, schools made plans to continue classes remotely and invested heavily in creating digital curriculum for their students, including ebooks and other digital resources.

But it wasn’t until 2020 that EdTech saw its first global boom. The Covid-19 pandemic had forced people to stay at home, which meant there were no schools open, no colleges, and no universities either. This led to students taking online classes, teachers giving online lessons, and universities and colleges offering virtual lectures.

Suddenly, everyone had to adapt to this new way of learning and teaching and many even benefited from the change. Not only did EdTech prove to be beneficial during the pandemic, but even after it ended, many universities and colleges continued with their virtual lectures and classes due to the ease of accessing these technologies offered for both teachers and students alike.

New York’s former Governor Andrew Cuomo announced in May of 2020 that he is planning to rethink education in the state with the help of Bill Gates and Google’s CEO Eric Schmidt. The pandemic has underscored how difficult it is for schools to meet the unique needs of every student, particularly those with special needs, and it has sparked interest in alternative models for teaching and learning across the country.

Schmidt’s planned to make New York a testbed for educational tech. He envisioned a partnership with the state to create tools for remote teaching, and he could use New York as a proving ground for experimental technologies like facial recognition software.

Online learning has been shown to be effective and efficient in previous crises, but this time around it really went global—and fast. Now that everyone is using EdTech in some form or another, it’s likely that we will continue to see its influence on education long after Covid-19 has left us behind.

As EdTech continues to grow, so does the amount of money being invested in it. In 2020, the education sector spent $227B on digital education. This spending is forecasted to grow 12.2% to $404B by 2025.

Fig.2 A graph showing digital spending on EdTech (2020-2025) Source

Many EdTech experts have noted that the rise in the number of people using EdTech is not just a response to remote education, but a genuine interest in using digital tools for teaching and learning. This means that as the Covid-19 pandemic subsides, EdTech will continue to grow and thrive in the U.S. and around the world.

As Microsoft says in its Education Reimagined paper:

“The fallout from COVID-19, continuing advances in digital technology, and intensifying pent-up demand for student-centered learning have combined to present an unprecedented opportunity to transform education across whole systems.”

The self-paced eLearning segment is expected to grow from $46.67 billion in 2016 to $243 billion by 2022, according to a recent report by Statista. That’s a compound annual growth rate of 36%!

The EdTech Evolution: How It All Started?

The EdTech industry has evolved immensely over the years in terms of technological advancements, pedagogical innovations, and financial backing. Its history is inextricably tied to the history of communication. From oral learning to written learning, to projectors with built-in software, EdTech has evolved alongside how we communicate and how we learn.

Fig.3 A pie chart showing the providers of EdTech by segment type (source)

Over the centuries, educators have strived to make learning as efficient as possible. Here we take a look at the evolution of edtech – from its earliest days in classrooms to how it is used in schools today.

Oral Communication as a Learning Tool

In the early part of human history, education was an oral tradition. Storytelling and memorization were the primary methods of passing knowledge from one generation to the next.

The advent of writing marked a major turning point in education. By the end of the 15th century, printing presses had been invented, allowing copies of books to be created more easily and cheaply.

Blackboard and chalkboard technology changed education again in the 18th century, allowing teachers to show their students how to solve math problems and other processes on a larger scale than ever before. Students could see the whole process in front of them, rather than needing to copy it down by hand or memorize it orally.

After World War II, projectors became popular among educators in America, as they allowed teachers to show students slideshows with topical information more effectively than ever before.

PowerPoint came along at the end of the 20th century and allowed teachers to include images and graphics into their classroom presentations. It also provided an easy way for students to create slides that could be used for projects or presentations with little technical skill required.

Writing as a Learning Tool

Most historians agree that the earliest form of EdTech dates all the way back to the Ten Commandments, which were invented by Moses in order to educate people about God and his will for them.

After this, the history of EdTech moved on to the invention of the printing press in Europe during the 15th century, which allowed educational materials to be printed out and distributed at a much faster rate than ever before. This helped facilitate education for all students, not just those who could afford it or had access to a private tutor. The industrial revolution created even more educational technologies such as chalkboards and calculators that were used in schools around the world until computers became widely available in homes starting around 1980.

Video & Radio Technology as a Learning Tool

Video and radio technology has been around the longest: the first educational adult series was broadcasted by the British Broadcasting Corporation in the 1920s, and it was titled, “Insects in Relation to Man.”

Not exactly a catchy name, but it marked an important step for EdTech. Educational television programs continued to grow in popularity throughout the 1960s—and in 1968, the UK government went so far as to form a program called Open University with a mission to televise educational TV series for university students.

The advent of satellite technology in the 1980s allowed programmers to broadcast their educational programs even further than they could before—and very soon, video learning became famous. However, experts note that efforts to spread video technologies to third world countries were short-lived because those countries lacked proper facilities. By the end of the 20th century, video learning became a common staple of online education in advanced countries.

Computer System Technology as a Learning Tool

In the 1930s, it was realized that the use of computing technology could be beneficial in education.

However, it was not until 1981 that the first commercial portable personal computer (PC) was developed by Adam Osborne. This changed the landscape of EdTech forever and made it possible to use technology to enhance learning in all areas.

In 1986 Toshiba launched portable PCs. A year later Apple launched the Mac Pro Powerbook, which became an important learning tool for students and educators alike, especially in the field of language learning.

By 1990, the World Wide Web had come into existence, which led to a huge boom in education technology and access to information in general. 1993 saw the beginning of another major shift in education technology: Personal Digital Assistants (PDA’s). These pocket-sized computers were incredibly useful for educators and students alike: they allowed users to access their email and calendars remotely and make notes by hand or voice as well as by keyboard.

And by 1998 almost every learning institution in the United States had a computer and a stable internet connection for educational purposes.

The EdTech Evolution: As of Today

Modern-day EdTech trends are broken down into three main categories: learning management systems (LMS), digital content/curriculum, and student-centric learning. These innovations help teachers, parents, and students understand the needs of each individual better than ever before.

Fig.4 A graph showing the skills targeted by the EdTech evolution as of today (source)

Some examples of modern tools and mediums used for EdTech include: online courses, interactive games for younger children, artificial intelligence programs that can grade assignments, mobile apps that help students stay on track with their course load, and applications that offer students the ability to create their own personal learning path based on their interests.

So what are some of the trends in EdTech today?

Virtual schools

Virtual schools are becoming more popular too. With virtual schools, students learn entirely online and work at their own pace using computers and other devices. Virtual schools have been around for a while now, but recently they’ve become more popular—especially in places where school budgets are limited or there aren’t enough educators for the number of students.

The Florida Virtual School (FLVS) is an example of a virtual school. FLVS gives students the option to choose when they start, so long as they finish by a certain date, what time of day they want to work, and where they want to work. For example, some students choose to work at night while others prefer working in the morning. Some students do their work on a laptop while others work on a tablet or phone.

Students have many choices for personalizing and individualizing instructions. Just like at a real school, there are teachers available to answer questions and provide guidance. However, unlike at a real school, there are no fixed times for discussion with teachers; FLVS teachers make themselves available through email or text throughout the day, so students can contact them whenever they need help. In addition to talking with instructors one-on-one, there are also opportunities for students to interact with other students online through discussion forums and scheduled virtual class sessions.

Students also have choices about how they respond to assignments. At FLVS, students can submit video demonstrations of science experiments instead of written summaries—they can even demonstrate their projects using Legos!

Interactive Whiteboards

Interactive whiteboards, which are also called smart boards and touchscreens, are like large touch screens that teachers can connect to a computer or other devices in order to enhance the learning experience for students. They can open up web pages for the class to look at, annotate over video, use apps on the board with students in real-time, draw diagrams, and more.

In 2019, data was collected by the Amasya University Turkey from a total of 877 high school students in order to investigate their perceptions of the new generation of Interactive white board (IWB). The data revealed that about half of the students believe that IWB are useful and effective, with a significant majority reporting that the IWB made learning more interesting.

Some examples of interactive whiteboard apps that can be used in the classroom:

Microsoft OneNote is an app that allows teachers to share their screen with students and annotate over what they’re showing. For example, they could open up a website and circle key information or add an arrow pointing to something important.

Google Classroom is an online platform where teachers can set up digital copies of worksheets and assign them out to students digitally instead of printing them out on paper. Students can type directly on this digital copy as if they were writing on a regular worksheet, but it’s all done online. This makes it easier for teachers to keep track of assignments, grades, and student work in general.

Digital Storytelling

Digital storytelling is a popular practice in the EdTech industry today. It refers to the use of digital technology to tell stories, including a wide range of media tools that can be used to create and consume digital stories. These include web publishing tools, video, sound recording and editing tools, graphics and animation programs, photo editing software, and more.

One example of digital storytelling is the Netflix movie Bandersnatch. The viewer watches an interactive TV show that puts them in the seat of a character playing a video game. The viewer then makes decisions for the character, who is attempting to create a video game himself. This story has multiple endings and dozens of decision points, so it’s up to you how long the story will last, who will survive and what will happen in the end. The viewer interacts with this story through their remote control or keyboard, which allows them to make choices that impact how future scenarios play out.

Blended Learning Environment

​​Blended learning environments are becoming more common in today’s EdTech. A blended learning environment is one where you combine traditional face-to-face instruction with a digital learning environment. When it comes to a blended learning environment, technology can be used for many aspects of the classroom.

According to the E-Learning Industry, “Blended learning allows you to use multiple learning modalities and helps your students retain 60% more information.”

For example:

In the classroom, teachers can use an interactive whiteboard or projector to display information and incorporate multimedia activities. Students can play online games that teach essential skills. Research projects can include posting student work online for feedback from peers.

At home, students can access the software and assignments that they use in class on their personal computers or tablets. They can also read ebooks and watch educational videos.

Students can collaborate on group projects by sharing documents online. Teachers can post announcements and syllabi online for students to access before class and at any time. They can also send out digital forms so parents can answer questions about their child’s progress without having to fill out a paper form.

Online Learning Platforms

Online learning platforms are part of the EdTech revolution, along with learning management systems and virtual reality. These platforms are basically where you can learn about anything you want to on the Internet. There’s no real structure for what kinds of things go on these platforms, but they can be anything from lessons to whole courses.

They’re popular because they offer the freedom to learn what you want when you want in an affordable way. You don’t have to pay to audit a class at a university, and often online courses are cheaper than in-person courses. Plus, if you’re working or have a busy schedule, it’s easier to find time and space to learn online.

Khan Academy is a great example of an online learning platform: it’s made up of tons of videos teaching everything from math to history, along with interactive learning tools that let students test themselves as they go through a video lesson.

The EdTech Evolution in 2022 & Beyond: The Future Trends

EdTech has come a long way since the days of the abacus and clay tablets. In recent times, though, it seems that the rate of change in this educational technology sector has quickened, and changed with it has been the associated vocabulary. It is worth seeing what we can expect in future as this area inevitably keeps on innovating to improve our lives.

Will teachers stop teaching and become employees? Will we no longer have classes as we know them? Will we need to spend more time online and in virtual learning environments like MOOCs (Massive Open Online Courses)? This section here predicts how technology is radically changing the makeup of the modern classroom, and what it means for the future of education.

Fig.5 A graph showing current and expected future growth of different EdTech trends (2018-2025) Source

Animated eLearning

If you look at all the new products being released in recent months, it’s clear that one trend stands out above the rest: animated eLearning.

So what is animated eLearning? It’s exactly what it sounds like—animation that helps users learn. The beauty of animation is that it can give learners the best of both worlds: they get the flexibility and convenience of eLearning while also getting the visual stimulation and context they need to really understand information. And when you have an option like this, you don’t just have to choose between passive learning or active learning—you can have both!

The result? More engaged students, better retention of information, and more successful outcomes for everyone involved.

A study conducted by Ahi Evran University and Gazi University examined the effect of an online learning environment based on caricature animation on 46 students. The students were divided into two groups, with 23 in the experimental group and 23 in the control group. The experiment group used caricature animation as part of their lesson, while the control group used a more traditional learning environment. The results showed that those students who had access to caricature animation achieved better results than their counterparts in the control group.

Artificial Intelligence

AI has been making a big splash in education for the last few years, and it seems like that trend isn’t going to slow down anytime soon.

Why? Because AI is an awesome tool to help teachers—challenging and supporting them, allowing them to focus on the human side of their jobs and creating more time for thinking, planning, and connecting with students.

Imagine being able to create a personalized learning system that is based on each student’s strengths and weaknesses. Imagine teaching a class of hundreds of students without having to worry about grading essays or tests. Imagine having the ability to develop well-rounded lessons that focus on all learning styles—the visual learner, the auditory learner, and so on. With AI, you can do all that and more.

In addition, AI is beginning to be used in educational tools such as online learning platforms and virtual tutoring services. These tools are able to provide students with personalized guidance and instruction that helps them learn at just the right pace for them. This way, students get to tackle the exact concepts they struggle with most, but not so much that they become overwhelmed or frustrated by their learning experience.

When it comes to education, there are three main kinds of AI:

→ Predictive: Think of apps that tell you how long your commute will take, or answer questions like “What’s the weather tomorrow?” These are software programs that use data about what’s happened in the past to make predictions about what might happen in the future. They can also be used to predict how students might do on an upcoming test based on what they previously knew or struggled to learn.

→ Adaptive: Adaptive AI adjusts the experience to each individual student based on their learning needs. For example, if one student is excelling with fractions, while another student is struggling, the adaptive AI could create a curriculum or lesson plan that helps each student strengthen their understanding of fractions at their own pace without falling behind or getting bored.

→ Assistive: Assistive AI can help students learn by coaching them through problems and concepts. For example, it could tell students to try adding fractions using different methods until they figure out which one works best for them, or suggest taking time to re-read a passage and then find evidence for an argument within the text.

Virtual Reality & Augmented Reality

Virtual reality (VR) allows someone to exist in a computer-generated world that responds to their actions. Augmented reality (AR), on the other hand, takes a live view of the real world and superimposes computer-generated images on it—allowing users to interact with the data that is overlaid.

Both types of technology have been used to create immerse learning experiences for students. In math, for instance, how many times have you heard kids tell you they don’t understand geometric shapes or complex equations because they just don’t “see” them? Virtual reality can allow kids to walk around in these concepts and gain a new perspective on them.

Virtual and augmented reality (VR and AR) in educational technology (EdTech) is a relatively new field that is poised to explode over the next few years.

One of the most exciting aspects of VR and AR in EdTech is the potential it has to make learning more engaging. By allowing students to interact with an immersive environment—either one they’re physically present in or one they’re experiencing through technology—we can capture their attention and keep them engaged in a way that’s not possible with traditional learning models.

On top of capturing attention, VR and AR also allow us to create scenarios that are otherwise impossible to experience. We can incorporate virtual versions of animals into science lessons, simulate historical events for social studies class, or even bring abstract concepts like numbers or algebraic equations into a 3D space so students can understand how they work.

The use of VR and AR in EdTech is, at least for now, focused on high-level technologies that aren’t yet feasible for widespread adoption because of cost. However, we can expect to see two big shifts in the near future: wider adoption of high-quality VR/AR hardware such as headsets and goggles, and the development of more accessible software to take advantage of that hardware.


Blockchain technology has the potential to revolutionize many aspects of our lives, including education.

Blockchain is a system for keeping records that’s decentralized—instead of being stored in one central location, it’s distributed among hundreds or even thousands of computers around the world. This means it’s nearly impossible to exploit a blockchain system.

Because of their unique qualities, blockchains can be used to create a digital certificate system for students. One example is Holberton School, a two-year coding school that uses blockchain-based certificates to prove students have successfully completed their programs.

With this system, graduates are issued a unique certificate ID. The certificate ID links to the student’s private key, which allows them to sign documents digitally and share their proof of completion with employers.

Blockchain technology can also help make credentialing more secure by providing a way for students and employers to verify credentials without having to go through central institutions like colleges and universities.

There are many ways that Blockchain can help improve education. One of its most straightforward applications is in grading: teachers can use Blockchain to create more accurate records of grades and assignments, as well as store them securely. Blockchain’s ability to ensure anonymity will also make it easier for students who need accommodations due to disabilities or other factors—such as taking exams in a non-standard location—to access those resources without having their privacy compromised.

Another benefit of Blockchain technology for education is its ability to track student progress over time. If a school district wants to see how its students are doing on standardized tests year-over-year, they could use the technology by storing all data from those tests within one blockchain ledger entry per child.

Blockchain can also be used to create some other interesting educational technologies and platforms. Some of these include:

Smart Contracts: This is a type of contract that automatically executes when certain conditions are met without the need for human intervention. Smart contracts can help students keep track of the progress on their academic journey and provide them with the credits required for transcripts and other documents.

Cheating Prevention: Blockchain can be leveraged to combat cheating by tracking exam submissions, verifying test takers’ identities, and ensuring submissions are original work.

Transcript Management: Since Blockchain is tamper proof and records each transaction chronologically, it can be used to help manage student transcripts. This means that schools no longer need to worry about students tampering with their transcripts either through fake grades or forged signatures during their time at school.

Cloud Computing

Cloud computing has revolutionized the way we do business, and its advantages are not limited to money-making enterprises. As education technology grows in importance, cloud computing will continue to be an essential tool for educators, administrators, and students.

Cloud computing has transformed the way we learn and how instructors teach. In addition to accessing information on-demand, there are now online classrooms where instructors can connect with students across the globe. Students can collaborate with one another and share ideas through virtual whiteboards, screen sharing apps, and much more. In addition to enabling collaboration between educators, cloud computing may also facilitate connections between students who attend different schools. This could have a profound effect on the way schools approach knowledge transfer across the board—from grades K through 12 all the way up to the graduate level.

As it is now, students from different schools have little opportunity to collaborate with students from other locations. With cloud computing, this could change. Students from different schools could be able to work on assignments together with ease, and teachers could more easily collaborate with their colleagues at other institutions to pool resources and develop new teaching strategies.

CC is a major part of the EdTech landscape, allowing for educational materials to be accessed from anywhere, and for collaboration and research to be more accessible than ever before. As cloud computing continues to improve and to add new features, it will become increasingly important in education.

Here’s how cloud computing has been used by educators so far:

  • Accessing mobile apps and programs
  • Facilitating student collaboration
  • Automating administrative processes
  • Allowing teachers to access/create content that can be updated in real time or as needed
  • Reducing costs associated with IT infrastructure solutions

Cloud computing makes it possible for a school to provide access to software programs without having to install them on every single computer that’s used at the school. Instead, the programs can be accessed through the internet using a web browser. This saves time and money because the school doesn’t need to pay for a system administrator whose only role is maintaining software licenses, installing and updating programs, and troubleshooting problems with those programs. Furthermore, if the school uses cloud-based applications such as Google Docs or Office 365, students will be able to access their work from any device that has an internet connection. Cloud computing also makes it easy for teachers to collaborate on projects and share their work with students which can improve productivity and bolster enthusiasm for learning.


In our opinion, EdTech Evolution (i.e., student-centered learning) provides the potential to revolutionize education, while at the same time retaining the most valuable virtues of our current system (accessibility and adaptability). However, in order to realize this potential, we need to build digital tools which allow students to learn and demonstrate what they have learned in a way that is easy for both instructors and students to use and that serves as an effective bridge between informal and formal learning.

At MpireSolutions, we help you with EdTech Websites and Mobile Apps development as we understand the importance of custom development using top technologies & tools that are tailored to your specific needs and goals. Whether you need help creating a new web/app or updating an existing one, we can provide the assistance you need.

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What is Fintech: A Complete Guide On Financial Technology


The word Fintech has become a buzzword today, with a variety of different meanings. From digital lending to asset management to innovation in insurance, there have been a number of significant financial changes that can be attributed to technology – all within the last decade. But what, exactly, is Fintech?

Fintech is the idea that technology is changing the way we do financial management, from the little-known wallet on our phones to the largest stock exchange in the world. The term encompasses everything from investing in cryptocurrency to simplifying banking between countries. With Fintech, venture capitalists and investors can trade more efficiently, collect more data on customers, and make slight changes that can have great effect over time.

This blog post covers the following topics:

  • Introduction
  • Examples
  • How Does Fintech Work
  • Financial Technology in Practice
  • Types of Fintech Companies
  • Fintech History Timeline
  • The Fintech Evolution Cycle
  • The Fintech Expansion
  • Latest Trends in the Fintech Industry
  • Typical Fintech Users
  • Applications of Fintech
  • Conclusion


Financial Technology (Fintech), sometimes called “financial innovation,” is a catch-all term for any sort of technology that impacts the finance industry, such as mobile banking.

It is the portmanteau of “financial” and “technology”—a sector that deals with how financial services are provided by utilizing technology.

Put another way, it’s tech that helps you manage your money.

Source: ShuftiPro


Some examples of fintech companies include:

Credit Karma—provides free credit scores, credit reports, and recommendations for products like credit cards or loans that the user might be interested in

PayPal—an online payment system that allows customers to transfer money without sharing financial information

Kabbage—a company that uses software to predict cash flow and automate lending decisions to small businesses

Moven— mobile-only bank account where you can manage your money online via an app

Acorns—it rounds up your purchases to the nearest dollar and invests that spare change for you automatically

How Does Fintech Work?

The term “financial technology” can mean different things to different people, but it typically refers to the use of information technology in financial services.

In practice, this means that computers and software are used to help financial institutions and businesses streamline their processes and offer innovative products and services.

As an example, a fintech company might create software that helps banks offer loans more quickly and easily than they would be able to without this software.

Fintech companies are typically startups that aim to disrupt established institutions by introducing new technologies into the financial sector. This means they can often be more nimble and responsive than traditional banks or other financial institutions, which have been around for years or even centuries.

Financial Technology In Practice

Fintech has been around for a while; it’s not new. But the way it’s being used is changing rapidly. The banking sector, for example, has experienced something of a revolution in how they provide services to their customers. Whereas you once had to go into a bank to do your banking, now you can deposit checks with your phone and transfer money from your checking account to your savings account with just a few taps on an app.

In the past, in order to send money to a friend, you had to write them a check or meet up in person to hand over cash. With apps like Venmo and Zelle, sending money can be done in a few taps on your smartphone—and it’s all free!

There are also options for making purchases with your phone instead of credit cards and cash. Apple Pay, Google Pay, and Venmo Credit Card let you tap your phone at checkout instead of pulling out your wallet.

Want to buy some stock? You don’t have to call a broker anymore (assuming you don’t want one). You can just sign up for an online investing platform like SoFi, which will allow you to invest in the stock market and even trade options without any human interaction at all. Is that more convenient and less expensive? Yes, it is.

Types of Fintech Companies

Fintech is an industry made up of companies that use technology to make financial services more efficient. There are two types of fintech companies: those that serve consumers directly and those that serve businesses and government organizations. Some examples include:

a). Consumer-facing: companies that help customers manage personal finances, invest, or borrow money. Examples include Stripe, Credit Karma, and PayPal.

b). Business-facing: Companies that work with banks, governments, and other financial institutions by selling software products or offering services. These products can range from fraud detection to financial management tools for small businesses. Examples include Kabbage and Gusto.

Fintech History Timeline

This is a brief history of how Fintech has evolved, from the 1970s to today.

1970s: First ATMs and Credit Card Machines

The 1970s was the beginning of Fintech. This was when the first automatic teller machine (ATM) was introduced, allowing people to do basic banking tasks without going into a bank branch, as well as the first credit card machine, which allowed people to pay merchants electronically.

1980s: Computers and Online Banking

The 1980s saw a revolution in digital capabilities, with the invention of affordable personal computers that could be used by ordinary people. This led to online banking becoming more common.

1990s: Internet and Fintech Companies

The 1990s saw a huge increase in Internet usage, allowing people to communicate in new ways with each other and with businesses. This led to new companies like PayPal being founded, which were dedicated to using technology for financial transactions.

2000s: Mobile Fintech Apps and New Technology

The 2000s saw a boom in mobile internet access and mobile app usage, leading to a boom in mobile fintech apps designed for smartphones and tablets.

Ever since then, fintech has only grown exponentially. There are now thousands of companies working on solutions for everything from stock trading to personal finance tracking, and we’re still just scratching the surface of what’s possible!

A History of Fintech from Morse code transactions to Monzo

Source: Raconteur 

The Fintech Evolution Cycle

Fintech—or financial technology—has made way for an entirely new, more convenient approach to banking and making payments. It’s created a world with fewer hidden fees, paper checks, and hours spent waiting in line at the bank. But how did we get here?

Fintech has come a long way since the 1970s. Back then, it was mostly used by banks and other financial institutions to automate back-end processes. In many ways, though, its evolution is tied closely to that of the smartphone: as it became more powerful, it also became more portable.

That meant that apps could be developed to make banking more streamlined and less time-consuming. Those apps paved the way for digital wallets and online-only banks—and now we can’t imagine life without them. As fintech continues to evolve, it’s sure to bring even more changes that will shape the future of finance in incredible ways.

User’s Desire for Convenience

Fintech “evolved” out of users’ desire for convenience in their financial transactions. As technology made it easier and easier to do other things online (e.g., buy movie tickets), people began asking why they couldn’t do things like paying their bills online as well. This led to the rise of online banking and then mobile banking.

Once financial institutions started allowing consumers to access certain services online, they started looking for ways to make these services even more convenient. This was when instant payments became popular; instead of waiting a day or two for your payment to clear, you could receive your money immediately and can send money instantly.

Consumer’s Desire for Security

The recent rise of Fintech is due to a fundamental change in consumers’ attitudes toward their financial transactions. The financial industry has always been extremely sensitive because the companies in it essentially hold the keys to the kingdom—our money. Consumers are now looking for security and trust when considering which companies to conduct their business with.

Fintech has uniquely positioned itself to fill that need. Companies in the sector pride themselves on providing financial services that offer customers reliability, safety, and stability. They have also increased their technological sophistication through innovations like mobile payments and digital bank accounts, allowing customers access to their funds 24/7.

The Desire to Control Transactional Aspects

The rise of fintech was a natural outgrowth of buyers’ and sellers’ desire to control more aspects of transactions themselves. In the beginning, this was limited to the ability to buy goods from anywhere in the world and have them shipped quickly. Later, it expanded to include things like keeping money in an online account instead of a brick-and-mortar bank and then sending payments electronically instead of by check.

Most recently, fintech has manifested itself in the form of AI systems that can anticipate when people will need financing and then provide it to them automatically through a system like PayPal or Venmo. This is just one example; there are many others!

Peoples’ Desire for Time-Saving Solutions

Fintech has evolved out of people’s desire for time-saving solutions. It has the ability to reduce the amount of time people need to spend on all aspects of their financial lives, from managing money to making payments.

People can complete financial activities and transactions in a fraction of the time that it used to take them before the fintech revolution. They can do things like:

  • Make payments at the tap of a button on their mobile phone
  • Check their bank balance or view their recent transactions with a few simple clicks on their smartphone app
  • Transfer funds between accounts instantly through online banking or automated services

So-called “fintech” (financial technology) companies are now offering products that allow customers to handle their own finances from their phones or computers—no bank teller required.

What exactly does fintech mean for the average consumer?

Well, for one thing, it means you can do your taxes without sitting down with a tax professional or pulling out a calculator. F

or another thing, it means that you can take out loans without applying at a brick-and-mortar bank—and thousands of startups are now providing online lending services.

Now more than ever, consumers can manage their money on their own terms and make informed decisions with just a few clicks of their mouse or taps on their phone screen.

The Fintech Expansion

Fintech has many faces.

Mobile-only stock trading app Robinhood has swelled to 22+ million users since its 2014 launch and raised $3.4 billion in venture capital in 2021-2022, alone. Peer-to-peer lending sites like Lending Club and Prosper are now publicly traded companies with a combined $6 billion in revenue.

Business loan providers including OnDeck and Kabbage have each raised more than $100 million in investment. Insurance startups like Oscar and Lemonade promise to disrupt the industry for millennials, while banking cafes by Capital One and Capital One 360 help customers manage their money over coffee.

Source: Consultancy EU

In fact, some fintech companies aren’t even focused on turning a profit. They’re more concerned with providing services to those who would otherwise be unable to get those services any other way. For instance, Bancosol was started in Peru to offer banking services to people who previously had no access to a bank.

Latest Trends In The Fintech Industry

Fintech is a fast-changing industry, and there are plenty of exciting new things happening in it. Here’s a rundown of the latest trends.

✅ Artificial intelligence (AI), machine learning, and robotics are all growing areas within the fintech industry.

✅ Many financial firms have begun using chatbots to respond to customer questions and complaints. However, these chatbots can often seem robotic and impersonal. The newest trend is to create chatbots that sound more like real human beings and can actually hold conversations with customers.

✅ Voice recognition, which is used for things such as Siri and Alexa, has been utilized by the fintech industry for payment processing. This means that you might soon be able to say a command such as “Pay my bills.”

✅ Bitcoin Fintech: Many fintech companies are looking into Bitcoin as an alternative source of currency.

✅ Software-as-a-service cloud services: Fintech companies are increasingly adopting cloud services to store data, which allows them to cut costs on physical server storage.

Typical Fintech Users

In the financial technology (fintech) industry, there are two main kinds of users: consumers, who use fintech to manage their own finances, and businesses that use fintech to manage their finances as well as the finances of customers.

Business-to-Consumer (B2C) Fintech Users

Consumers often use fintech to do things like sending money across country lines at a low cost, making payments using mobile devices, or investing in the stock market.

Business-to-Business (B2B) Fintech Users

These companies use fintech to facilitate financial transactions with their customers or other businesses. For example, a company might use fintech to take credit card payments from its customers.

Business-to-Friend (B2F) Fintech Users

But there is another group out there that is sometimes overlooked, and that is people who use FinTech casually. We call this group B2F (Business-to-Friend).

For this type of user, Fintech is all about simplifying life, not complications. It’s about taking care of simple tasks like splitting bills, requesting loans from friends, or sending money to friends. And it’s about providing a service that simply makes life easier.

Applications Of Fintech

Fintech, or financial technology, has made big waves in the financial services industry in recent years. With the advent of new technologies, traditional financial institutions and companies are being challenged to keep up with the demands of customers and clients. Here’s what you need to know about the applications of fintech.

Mobile Banking & Neo Banks

Mobile banking is one of the most popular applications of fintech. More and more people are doing their banking online or via mobile apps. One example is Cash App (previously Square Cash) a mobile payment service that allows you to send money to your friends immediately via their app.

Another application of fintech is neobanks. Neobanks are small banks that have no brick-and-mortar locations—they only operate online. They typically offer better interest rates on savings accounts than traditional banks do. One example is Varo Money, a neobank that also offers no-fee checking accounts and loans.

Cryptocurrency & Blockchain

Cryptocurrency and blockchain are different things, but they’re also very much inextricably linked in the Fintech sector.

Cryptocurrency is a digital currency that has no physical form and exists only in digital. Blockchain is an electronic ledger that allows users to record each transaction made through cryptocurrency.

Because there’s no physical version of the money and transactions happen digitally (i.e., there’s no exchange of paper money or coins), it’s easy to see why the cryptocurrency is so appealing to users. However, the absence of physical money also opens up opportunities for fraudulent activity, which is where blockchain comes in.

Blockchain allows users to keep track of every single transaction made with cryptocurrency. It works like a Google Docs spreadsheet, where only people who have been granted access can make changes to what’s written on the document. In this case, the “document” is a public ledger of all transactions made with the currency.

Each new transaction is recorded as a new line on the spreadsheet—so if you’ve ever been on a group project where you all worked on an online spreadsheet together, you can get how this works!

Investment & Saving

Fintech has caused an explosion in the number of investing and savings apps, like Acorns and Betterment. These apps make it easier for millennials to invest by allowing small, regular contributions from checking accounts or debit cards and managing investments for them using sophisticated algorithms. In some cases, they can even round up purchases to the nearest dollar and contribute the difference to a savings account.

While Fintech has been around since the early 2000s, the growth of consumer-oriented Fintech businesses has been exponential in recent years. Many people are giving up on traditional banking because of its high fees, long wait times, and lack of personalization. Millennials especially are looking for easy ways to do their banking—including managing their investments—from their phones, which is something that traditional banks have struggled with.

And we’re just getting started—Fintech is growing at nearly three times the rate of other financial services sectors!

AI Machine Learning & Trading

Machine learning has had a huge impact on finance over the last decade. With machine learning, computers can analyze millions of data points from many different sources, and use them to build predictive models that reveal trends in financial markets.

These models can be used for all kinds of investment strategies, from swing trading to long-term value investing. The ability to process so much data so quickly is an incredible advantage for traders, who can now look at trends across many different time frames in order to make more effective trades.

The example we’ll use here is algorithmic trading: a strategy where a computer program makes decisions about when to buy and sell financial assets based on the patterns it discovers in historical data. Algorithmic trading uses machine learning techniques like logistic regression or support vector machines to estimate when stocks will go up or down in value, as well as how much they’ll change by.

Here’s another example:

Let’s say you want to invest in a company that produces state-of-the-art hoverboards—but you’re just not sure how much you should invest, or if it’s a viable investment at all. Machine learning algorithms can search through hundreds of thousands of data points to find every company involved in hoverboard manufacturing—even if you didn’t know those companies existed!


One of the most exciting benefits of the fintech revolution is how it has affected the insurance industry. Insurance companies can now use technology to better understand the risk of their policies, cut down on fraud, and provide more customer-centric services.

For example, instead of solely relying on an annual checkup to assess a person’s health, life insurance companies are now beginning to use wearable devices for constant monitoring and proactive care. Progressive Auto Insurance also offers its customers a device that tracks how many miles they drive and then gives them a discount based on their actual usage. They’ve even started offering discounts to people who bundle home and auto insurance policies!


With all these buzzwords, it’s hard to grasp the various subjects and technologies that fall under the fintech umbrella. Fintech is a new and exciting field that has made financial processes more engaging and freed them from their traditional organizational structure. The essence of fintech is disruption through technological innovation, and there are many ways in which it impacts our world.

It is a wide, wide field and it is in constant motion. To get a sense of things, start by thinking about all the financial services that exist today – everything from peer-to-peer lending to crowdfunding, from insurance to investing advice, from mobile banking to blockchain technologies, are falling within its ambit. Fintech is all about empowering the citizen user and creating more efficiency.

And if you are looking to build a fintech solution in the form of a website, mobile app or a software,  Mpire Solutions has a highly skilled development team that can help you. Connect with us for a FREE Consultation.

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Quantum Computing vs. Bitcoin Algorithm: Who Succeeds?


Quantum Computing represents a paradigm shift in technology that underpins finance as we know it. On the other side, Blockchain is a bit like the invention of double-entry bookkeeping. It transforms trust and confidence between parties and makes it possible for money to move around the world quickly, securely, and freely.

But what happens if someone invents a supercomputer that can solve problems even faster than our best computers today? That would undermine Blockchain’s security and call into question Bitcoin’s viability as a method of payment.

This blog post will cover the following information:

Quantum Computing: A Threat for Bitcoins?

Quantum Computing & its Impact on the Cryptocurrency Market

Can any Quantum Computer crack into Bitcoin’s Algorithm?

Headed for Quantum Apocalypse, Researchers Warn!

How Quantum Computing will infiltrate Cryptocurrency Markets?

Which types of Encryption will remain safe in the Quantum Era?



Quantum Computing: A Threat for Bitcoins?

Quantum Computing will amount to the death knell for Bitcoin, the notable digital currency that most large firms in the present day swear by.

One of the great attributes of Blockchain technology is that its encrypted data exists on thousands of computers worldwide, with no centralized server. This means there’s no single point of failure, making it truly secure. Any attempt to hack the system would require enough computing power to break through several blocks simultaneously.

It’s a puzzle that would be virtually impossible to solve without having to crack every block within tens of thousands of years.

But a new generation of technology, the dawn of Quantum Computing, is generating speculation with many hands asking: Will Quantum Computing crack the Bitcoin algorithm?

Quantum Computing is an exciting field of technology. It can potentially change what we know about computing, with the ability to increase processing speeds vastly. However, there’s also a considerable concern shown by the information security professionals.

Quantum Computing can potentially break high-level encryption, allowing attackers to access and decrypt information that was assumed secure today. Among those encrypted things are Bitcoin wallets.

Quantum Computing & its Impact on the Cryptocurrency Market

The Bitcoin Algorithm may soon be under attack by Quantum Computing. This technology could threaten Cryptocurrency if it becomes a mainstream platform.

Could Quantum Computing be the downfall of Bitcoin? It’s been years since Bitcoin was launched, with its underlying Blockchain technology providing a digital alternative to traditional ways of carrying out financial transactions. Since then, we have seen it become even more popular in 2017, especially for foreign exchange trading. In fact, many people accept Cryptocurrencies as payment methods these days.

But will this trend last forever? Perhaps not.

Guided by the principles of Blockchain, cryptography, and computer science, Bitcoin and other crypto coins are slowly taking over the financial world with the underlying strength of a decentralized system and open-source code.

In recent months, there has been much talk about ‘Bitcoin’s weakness,’ partly due to encryption and hash function concerns on SHA256 and double SHA256.

People who worry about this issue all speak with a tone of concern; they are concerned that today’s supercomputers in the near future (post-quantum era) will be able to crack the Bitcoin wallet password through Quantum Computing power easily – once this happens one day, all Bitcoins can be immediately stolen!

Can Any Quantum Computer Crack Into Bitcoin’s Algorithm?

The way Bitcoin works is by using an encryption algorithm that is so incredibly complex that today’s computing power can’t break it. But how long will that last?

A new study conducted by researchers at the University of Sussex has sought to answer that question in a particular way: How big does a quantum computer need to be to accomplish something useful?

Two of their research teams examined the significant ways in which qubits (or quantum bits) are engineered and then calculated precisely how many qubits would be needed to crack the Bitcoin encryption key. Their results were published in a recent Nature Communications report.

One method involved using stacked qubits or columns of qubits to process information. The second method involved using ions trapped in an electromagnetic field or ions trapped inside high-powered magnetic traps.

One of the most popular ways of engineering qubits involves superconductors, which are materials at extremely low temperatures that maintain an electrical current for long periods. The other approach involves trapping ions, or charged atoms, inside magnetic traps. When these two approaches are combined, they create the most efficient type of quantum computer engineers have yet devised—and a powerful one at that.

In order to break the encryption, a quantum computer needs to process a tremendous number of calculations using a staggering 317 million qubits. This would take an hour, give or take. To process each individual ten-minute hack, the quantum computer would need to employ 1.9 billion qubits.

Interestingly enough, they also discovered that IBM had developed a 127-qubit machine known as IBM Eagle. This device is considered as the most powerful of its kind on Earth right now, but it’s not strong enough to break through digital currency encryption. It’s possible that this could change with time, but for now, Quantum Computing is still far away from cracking Bitcoin’s algorithm.

Headed for Quantum Apocalypse, Researchers Warn!

Quantum computers could bring about the end of encryption as we know it. Within the next few years, they could allow hackers to steal virtually anything, including your money and your secrets.

Quantum Computing is making a huge splash in the tech industry right now. It’s the next big thing, and some of the biggest names in technology are racing to bring it to market first.

But experts warn that Quantum Computing has a dark side: a “quantum apocalypse.” When quantum computers achieve maximum processing power, they could wreak havoc on our digital world by doing things like cracking encryption in mere seconds, which would make all our passwords vulnerable to hackers. So we need solutions now before we’re out of time.

Quantum Computing is still in its infancy, and these quantum computers aren’t even fully functional yet—but when they are, they’ll be able to do things like break the Bitcoin algorithm and decrypt any data that currently rely on public-key encryption.

How Quantum Computing Will Infiltrate Cryptocurrency Markets?

It seems like a long way off, but it’s happening. Quantum Computing will break into Cryptocurrency. The question is: how?

Quantum Computing relies on subatomic particles called qubits. A qubit can be in any superposition of states to represent 0 and 1 at the same time. This means a quantum computer could theoretically tackle a problem with more variables than atoms in the known universe.

The regular computers we use daily function by manipulating binary code made up of 1s and 0s. A quantum computer would rely on qubits encoded with multiple numbers or symbols at once, each one representing an algorithm capable of solving specific problems. Each algorithm would solve its own unique set of equations, which would then be combined into one successfully completed whole.

That allows them to perform operations at a far greater speed than conventional computers, and some believe that this could lead to an explosion of innovation in all kinds of fields – from science and engineering to cryptography. But at the same, experts see this revolution as a hot new threat on the block.

“When that leap does eventually come, it’s going to be staggeringly huge and will upend our entire digital lives. It’s been called “the biggest tech revolution since the internet,” and while most people don’t think about it much now, they might start very soon.” says an expert.

“The only thing holding back Quantum Computing from radically changing cybersecurity as we know it is the physical construction of the machines themselves. We’re already making strides on that front. However, it’s still going to take another 10-15 years before Quantum Computing becomes widespread enough to disrupt modern encryption methods such as RSA and ECC.”

Which Types of Encryption Will Remain Safe In The Quantum Era?

In a world that is on the precipice of building computers that can efficiently perform tasks impossible for classical computers, we need to be prepared to protect our data in new ways. 

With this in mind, the US National Institute of Standards and Technology (NIST) has been running a competition since 2016 to develop new quantum-proof standards for cryptography. These standards will keep our data safe from computationally advanced threats for as long as possible.

Lattice Approaches

Lattice approaches are popular methods of addressing quantum supremacy in the near term. These methods use techniques based on mathematics’ “lattice theory,” which involves looking at points in space that form a pattern similar to a checkerboard and using the relationship between those points to create codes that are difficult to hack.

One way to make these codes more secure is by using what’s called “fully homomorphic encryption”—encryption where implementations can be used as black boxes that perform operations on encrypted data (such as adding or multiplying numbers). This would allow companies to perform secure calculations on sensitive data without decrypting it first.

Code-Based Encryption

As early as 1978, scientists had begun to research the feasibility of using a code-based encryption method for long-term data storage. This type of algorithm was created by cryptographer Robert J. McEliece, who devised a plan for storing information in packets deciphered through an error-correcting code

The original idea is simple: encoding messages in a way that permits them to be transmitted over a network while reducing the risk that they will be altered or intercepted by unauthorized parties.

One way to do this is to convert each letter into a number, then translate each number into another number using a mathematical process called a linear transformation. This new version of each letter is then combined with random junk data (or “noise”) and then converted back into letters. 

If a third party intercepts and tries to decode the message without knowing the mathematical function used, this process will only produce garbage—and thus, the term “error-correcting code” applies.

These modifications make it challenging for unauthorized parties to decrypt the information, making code-based encryption a solid security practice that will likely persist as quantum Computing technology advances.

But these are just short-term solutions…

As it stands now, current encryption methods are seemingly impossible to crack, even with the most advanced computers. However, this is not guaranteed to be true when Quantum Computing advances (which experts say is only a matter of time). When Quantum Computing becomes a reality, all encryption will be crackable, and your Bitcoin wallet will be as vulnerable as any other encrypted data.

The current state of quantum Computing is one that’s limited to just a few million qubits. But it won’t be long until companies can harness the power of these quantum computers, which have the capacity of millions of qubits.

That’s because as quantum computers grow more powerful, they will become capable of solving specific problems much more efficiently than conventional computers. In fact, according to experts who study cryptography and computational complexity theory, when “quantum computers processing billions of qubits come into being,” then these computers will easily break into Bitcoin.

Clearly then, the transition from a few million to billions is the only thing standing in the way of these machines cracking Bitcoin.


The future of Bitcoin is uncertain. While many analysts agree that Cryptocurrency was a one-hit-wonder, others claim that it has staying power as a significant player in the financial industry. However, no matter which side they take, most experts seem to agree that a quantum computer could crack Bitcoin’s current security system.

In short, a quantum computer is computer-based on the principles of quantum mechanics instead of classical physics. Quantum computers are still in their infancy and cannot be used for practical purposes yet. However, even if they were available right now, many experts believe that they would crack or break encryption systems like RSA and ECC, which are currently used by Bitcoin and many other online security systems.

Nevertheless, it may not be all doom and gloom for Bitcoin users. Experts believe that preventive measures can be taken to ensure that this new technology won’t jeopardize Bitcoin. Still, if these precautions aren’t taken (and, likely, they won’t be), there may soon come a day when Bitcoin’s reign as the world’s leading Cryptocurrency comes to an end.

The computing world is a fast progressing and complicated world that is branching out in several domains with the passage of time. If you have a technology project and looking for a consultation, reach out to Mpire Solutions for a FREE Consultation.

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What is Web 3.0?


Web 3.0 refers to the third major release of the World Wide Web. It is designed to be more powerful and to include several more extensive changes than previous versions.

In particular, it is designed to allow users to be in control of their data and use this information in new ways. As a result of these changes, Web 3.0 has been referred to as the Semantic Web or the Semantic Era.

This article explains what Web 3.0 is, how it differs from previous web versions and some examples in action.

What Is Web 3.0?

The third generation of the internet, driven by blockchain and decentralization technologies.

Web 3.0 is a bigger, broader and more interconnected World Wide Web filled with enhanced features that put individual people first – and make a far better web for everyone. It currently exists primarily as proposals and prototypes, but it will radically alter the Web as we know it today.

Web 3.0 comprises four distinct technologies: Semantic Web, Personal Web, Social Web, and Mobile Web (sometimes simply abbreviated as SPSMW).

It will be the most widespread and decentralized version of the internet, with many different aspects that advance it from the previous generation of the internet. This includes decentralized applications (dapps), new incentivized open-sourced digital economies, immutable smart contracts and providing a direct connection between users and service providers.

In the current Web, users must go through centralized servers, which can be subject to attacks and shutdowns. However, in the next generation of Web 3.0, the internet will be decentralized, and users will have access to all data safely stored on P2P networks.

How Does Web 3.0 Work?

Web 3.0 will use advanced cryptographic protocols that enable users to interact directly without relying on any third-party service provider or central server as an intermediary. Users will be able to exchange digital assets without any central authority being involved in the transaction or having control over the asset at any stage of its life cycle.

Since businesses and individuals will be able to access all information directly from other network participants with no need for third-party services, DApps (short of Decentralized Applications) will become extremely popular with companies looking for ways to cut costs as well as developers looking for new ways of monetizing their content.

Decentralized Applications (DApps) are blockchain-based applications not controlled by any single entity. They use p2p networking and consensus mechanisms to add value to their services. This means that no one person can control the application since everyone has a say in its evolution.

The most famous example of this is BitTorrent, the program that lets you download large files like movies and Linux distributions without going through a single central server.

Web 1.0 vs Web 2.0 vs Web 3.0

The Web 1.0 was the first wave of internet development used mainly by people to read and send emails and use search engines. It was all about information and putting information online. That’s how we got search engines, web directories, and services like Hotmail and Yahoo! Mail.

The Web 2.0 era brought the second wave of the internet that we are currently using. It includes social networking and a variety of other online applications and services. It is centered around user-generated content (UCC) and social media. It’s also more video and graphics-driven.

The Web 3.0 era would be the third wave of the internet characterized by pervasive computing — going beyond user-centric computing to context-aware computing, which will change human behavior. For example, people may no longer need to type keywords into search engines because they can rely on software agents or “bots” that scan the internet for information relevant to them as they work or play.

Some Examples of Web 3.0 in Action

Web 3.0 is an umbrella term encompassing some of the new and upcoming technologies that are being developed by various organizations around the globe. There is a lot of excitement surrounding these technologies.

Here are some examples of what’s already being developed today to become a major component of Web 3.0 in the near future.

Wolfram Alpha → Web 3.0 Search Engine

Wolfram Alpha is a next-generation search engine built for web 3.0. It has access to a huge amount of data. This, in turn, allows users to make complex and sophisticated queries at a speed that would be unthinkable with the old engines.

Wolfram Alpha is an example of a new approach to computation: the knowledge-based approach. Instead of programming, it finds answers. It’s not just a search engine; it’s what we might call a “computational knowledge engine.” It’s designed with the explicit goal of answering any question that can be expressed in words.

For this reason, most questions you might ask Wolfram Alpha will get at least one—and usually many—answers. And these are not just encyclopedic entries or dictionary definitions. They’re full-fledged computations that would be hard to do by hand.

The web 3.0 engine does not use simple keyword searches but instead understands the context of the questions being asked and returns the most relevant results. It can answer health, astronomy, chemistry, and even financial markets queries.

Storj → Web 3.0 Storage Drive

Storj is a leading decentralized storage solution. The company is built on blockchain-based technology that allows users to store data securely and privately.

Storj uses peer-to-peer technology to facilitate data transfer from users to storage nodes, which are rented out by farmers who run their software on their hardware. The storage space on these nodes is paid for in Storj Tokens (STORJ).

You can think of Storj as a decentralized dropbox service, but you can keep your files private and secure with the added benefit.

At the center of Storj is a distributed network for the secure transfer and storage of data. The network is based on blockchain technology, which provides a decentralized mechanism for authenticating and verifying each stored piece.

Data is encrypted, broken into shards and stored in a distributed network. The protocol allows anyone to access the network and store data in it securely with no central authority or middleman.

Steemit → Web 3.0 Social Networking Site

Steemit is the first successful blockchain-based social network. It enables users to post content and receive rewards in cryptocurrency tokens (called Steem) by other users.

Steemit essentially provides the same service as a social network. It has a front-page that shows popular content, comments, likes, etc. You can follow users and see their posts in a feed. You can share posts with your own followers.

The most important difference between Steemit and traditional social networks is that it is entirely decentralized. The server doesn’t hold any user information or post content; all of that information is on the blockchain instead. If a company like Facebook or Twitter wanted to copy this model today, they would have to set up hundreds or thousands of servers to be able to store all of its users’ data and content on their own servers. That would be very expensive, especially since the amount of data being posted on those services grows every day.

LivePeer → Web 3.0 Entertainment Site

Livepeer is a decentralized, open-source, live video streaming platform that takes the middleman out of the equation. The Livepeer network consists of peers (users) who broadcast live video streams and bonded spectators who consume them.

This creates a spontaneous, self-regulating ecosystem where streamers compete for viewers based on the quality of content, and all participants are rewarded for their contributions.

The platform is built using Ethereum smart contracts, which allow for direct payments between producers and consumers without the need for a third-party intermediary.

Viewers help to pay for the stream by consuming a small amount of Ethereum tokens (ETH) with each view. In exchange, they earn badges that can be exchanged for ETH or LPT (Livepeer’s native token). This system creates an active marketplace where streamers value viewers based on their willingness to pay.


The vision of Web 3.0 is that computers will understand everything on the Web, from the content (what it’s about) to the intent (what do you want to do with this information) and even the meaning (how should I react). By doing so, computers can make recommendations, recognize trends and even provide a context for your actions on the Web.

As with previous innovations, this change will occur in the blink of an eye, as people simply shift to what is clearly the better choice.

It’s helpful to note that most other technological revolutions didn’t require people to learn new skills. We didn’t have to stop using our hands when we shifted from writing with quills and ink to write with pens and ink. When we shifted from dial phones to touch-tone phones, it didn’t mean we had to start learning Morse code.

The big risk for Web 3.0 is that we’ll overdo it, that users will be overwhelmed by too many choices. But the beauty of this third generation of the worldwide internet is that it can adapt to any level of user sophistication. Its user interfaces are self-adjusting. Therefore, providing easy access for novices while allowing experts to get more functionality if they want it.

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A Basic Guide to Non-fungible Token (NFT) Marketplace


As the popularity of non-fungible tokens (NFTs) grows, so does the need for a safe and secure NFT marketplace. In this guide, we’ll introduce you to some of the basic information about NFT marketplaces available today. We’ll also provide tips on how to use these marketplaces safely and securely. So, whether you’re looking to buy, sell, or get information about NFTs, this guide is for you!

This guide will cover the following mentioned information about NFTs:

1. What is a Non-fungible Token?

2. The History of Non-fungible Tokens (NFTs)

3. What is Quantum?

4. How do NFTs work?

5. How much are these NFTs worth?

6. A Comparison between an NFT Internet and the Internet Today

7. What is an NFT Marketplace?

8. Top 5 Elements to include in an NFT Marketplace App

  • Storefront
  • Advanced Token Search
  • Filters
  • Create Listing
  • Listing Status

9. How much does it cost to begin an NFT Marketplace?

10. Conclusion

What Is A Non-fungible Token?

Do you know what NFTs are? NFTs or Non-fungible tokens are cryptographic assets on a blockchain. They have unique metadata and identification codes to differentiate them from each other. If we compare them to cryptocurrencies, they cannot be swapped or traded at equivalency.

In economics, we call “fungible” the assets that can be readily interchanged – for instance, money. Like if you have a $10 note and are swapped into two $5 notes, they yet have the same value. However, if something is non-fungible, having unique properties, it cannot be traded with something else. You may count a house, painting, and another art piece as an example.

NFTs are one-of-a-kind and unprecedented assets in the digital world that only can be bought and sold but not exchanged or traded. These tokens can be taken as ownership certificates for any physical asset or virtual/digital asset.

The different construction of NFT has the ability to be used for several other cases. For instance, they can be used as the ideal vehicle to digitally represent physical assets on the Ethereum Blockchain, including artwork. 

The arrival of NFTs has left a significant impact on artists and introduced a new platform for artists to showcase their abilities and skills. Artists of all types can quickly push their boundaries of creativity using NFTs, embracing them in modern and innovative ways.

As we know that they are based on Blockchains, non-fungible tokens can also work to remove intermediaries and to simplify transactions. Not just that, it helps artists to connect with their audiences.

The History Of Non-fungible Tokens (NFTs)

Before we go into depth, do you know where this technology came from?

The history of NFTs creation took place on May 3rd, 2014. The man behind the lens, awarded for its creation, is Kevin McCoy. He minted “Quantum” as his first non-fungible token, way before the market of Crypto Art exploded.

But wait, what is Quantum?

Quantum is defined as a pixelated image of an octagon, which is filled with denoting circles, arcs, or other shapes. These shapes are surrounded by hypnotically pulses in fluorescent hues. The best thing? In today’s date, an art piece named Quantum (2014-2021) is on sale for seven million dollars.

McCoy is one of the exceptional personalities, his hard work, and passion towards his goal is one of the inspirations one can count as an example.  He and his wife Jenifer have made themselves heroes and top-notch digital artists through hard work and struggles.

“The NFT is one of the outstanding parts of the art world,” says McCoy.

He said that NFT emerged from the long history of artists who were engaged with creative technology. Their piece of artwork has – in the past – been sold, which were bought by eager art collectors. However, McCoy himself preferred to sell his quality artwork at a gallery or one-on-one rather than enter into public bidding wars.

What’s more? The impressive artwork of McCoy and his wife Jenifer “Every Shot, Every Episode” is on sale today. It can be viewed by anyone at the Metropolitan Museum of Art; even you can have a look.

How Do NFTs Work?

Factually, the traditional artwork can precisely be valued for being original. But digital files can be changed in a matter of time using high-tech tools. With NFTs, you can now “tokenize” your artwork and have ownership of your quality work. It can be sold or bought at any minute once approved by the owner.

Here, blockchain is known as a record of who owns what is stored on a shared ledger. The plus? All those records cannot be duplicated, copied, and forged because the ledger is well-looked-after by thousands of computer systems worldwide.

NFTs can give the artist a cut of any future sale of the token through smart contracts, as they contain them.

How Much Are These NFTs Worth?

With the rise in NFT transactions, the rise of cryptocurrency use has been blurred. The NFT transactions have risen from $40.96% million (recorded back in 2018) to $338.04 million recorded last year, 2020. That’s an impressive rise of around 8x within two years. If we compare stats of 2020 to 2019, 2020 has seen an unprecedented increase of roughly 82%.

According to resources, an animated GIF of Nyan Cat, a 2011’s meme of a flying pop-art cat, was sold for more than $500,000 back on February 29th 2020.

After a few weeks of this enormous success, musician Grimes sold her extraordinary digital artwork for more than 6 million dollars.

What is even more exciting? It is not only about the art and a piece of property that can be sold or tokenized. Recently, Twitter’s founder Jack Dorsey has sold the first-ever tweet as a non-fungible token. This token worked as a seal of authentication that confirms that whatever one is buying is genuine and unique.

Not only that, Christie’s sale of an NFT has set a new record for selling out digital art for 69 million dollars. Similarly, French firm Sorare has sold football trading cards in the form of NFTs and raised around 680 million dollars, which was record-breaking.

A Comparison Between An NFT Internet And The Internet Today

An NFT Internet

The Internet Today

NFTs are quite unique in comparison to each other, no two NFTs are similar.

We can use a copy of a file, like MP3 and JPG. They work as original but are copied.

All NFTs are owned, which makes it easy for anyone to verify.

Ownership records of digital items are stored on servers controlled by several institutes – you have to rely upon them.

NFTs are attuned with anything made using Ethereum. An NFT ticket for an event can easily be traded.

Every digital company has to build its infrastructure. For instance, the company needs an individual app to issue a digital ticket for events.

What Is An NFT Marketplace?

A platform that makes you able to preserve and trade NFT without any concerns. At the NFT marketplace, you can buy or sell these tokens at market-competitive rates. One essential thing for NFT users is a crypto wallet to make transactions and token storage. One of the best markets is OpenSea, where you can buy or sell NFT artworks.

The NFT marketplace help users to develop an account and make sales of their digital artwork. Generally, you have to register yourself and connect the crypto wallet you already owned to your NFT account to use a marketplace. Rest you require these given steps to follow:

  • Make the desired NFT and define all ideal factors
  • List your artwork or any other digital skill that you can sell and wait for the complete submission
  • Wait for buyers’ bids and auctions
  • When the auction is completed, wait for the transference of crypto-currency by the marketplace

An NFT marketplace uses intelligent contracts, which we also call particular transaction protocols. These protocols work as the connections between the seller and the buyer. Moreover, the protocols or smart contracts identify data linked with an NFT.  Henceforth, it is proved that the process of marketing your product or selling and buying tokens is convenient and user-friendly.

Top 5 Elements To Include In An NFT Marketplace App

Here we listed out a few essential features that you need to add to an NFT marketplace app; let’s have a look:


One of the key features of having a thriving NFT marketplace is its storefront that works like a dashboard for the audience. It gives users with the required information needed for an asset – for instance:

  • Owners
  • Bids
  • Previews
  • Value History

Advanced Token Search

Before getting involved in an NFT marketplace, customers have to get complete product selling and purchasing information. Therefore, in your NFT marketplace app, you must comprise the products arranged with the details of key features and qualities. The best part? Faster search boosts the clients’ satisfaction.


One of the finest things to do is use filters, and it is highly beneficial. Moreover, it gets easier for customers to undergo a website with filters. Add this feature if you want to make an NFT marketplace an ideal platform for customers. It helps users easily choose options by category, listing status, and payment method.

Create Listing

To make your NFT marketplace standard, create a page where customers can list their collectibles, submit files, add information like tags, title, and description. It is one of the necessary steps to add value to your NFT marketplace.

Listing Status

Listing status is essential for people who offer products with an authentication process. It allows customers to check the status of their listing process and how far it has gone and helps execute collectible verification.

How Much Does It Cost To Begin An NFT Marketplace?

The cost and duration of this procedure include the performance of the marketplace. In case if you want to have a platform that is not complex, you need to infuse a little more money than usual to develop an NFT art marketplace.

If you are going for a readymade solution, there is no assurance and security. Moreover, the product’s dependency is based on the platform from where you are receiving a key.

On the contrary, you can hire a software development team to create a custom app for you because then you will not have to face any flaws. The specialists will make a platform with a user flow, functionality, quality features, and design from the beginning to the end. All you need to do is invest money.


The NFT marketplace is a great way for creators to easily get their products in front of the public. If you are looking for an easy, fast, and cost-effective way to sell your creations, this may be it! Have you tried selling any items on the NFT marketplace? Let us know how it went by commenting below.

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