Fintech not only brings a wave of innovztion to traditional financial institutions, but also creates opportunities for startups. According to the latest competitiveness report from World Economic Forum (WEF), Taiwan ranks fourth in the world in terms of “innovation capability”, and on a par with Germany, the United States, Switzerland and other countries. Taiwan is also known as “super-innovation country” by WEF. This innovative energy will be fully demonstrated at Fintech Taipei 2018, which will be held next Friday on December 7th. More than 52 Taiwan’s start-ups will participate, grabbing for the trillion business opportunities.
52 Taiwan’s start-ups will showcase the latest technologies, including cloud technology, Internet of Things (IoT), big data analytics, Chatbot, artificial intelligence (AI), and blockchain, to provide innovative method forpeople to complete the financial services only with the Internet or the app instead of waiting in line.
According to IDC research, it is estimated that global funding for blockchain solutions will reach US$2.1bn in 2018, more than double the US$945mn in 2017. And, global blockchain solution spending will reach US$11.7bn by 2022. In addition, Gartner also predicted that the additional commercial value of blockchain will exceed US$176bn by 2025 and will grow rapidly to more than US$3.1tn in 2030.
Taiwan Financial Service Roundtable (TFSR) told that in order to seize the trillion business opportunities brought by the blockchain, 11 Taiwan’s blockchain operators have set up a “blockchain innovation zone” to showcase the application of blockchain technology, including fundraising platform, cryptographic currency investment, treasury trust, CSR perpetual certification, and smart contract for retail.
TFSR also pointed out that in addition to the relevant applications of blockchain technology, the innovative financial services displayed this year also includes AI investment and wealth management, customized and personalized insurance, identity identification and real estate consulting.
FinTech Taipei 2018 is jointly organized by TFSR, Financial Supervisory Commission (FSC), and Taiwan Academy of Banking and Finance (TABF). The event will be held at Taipei World Trade Center 1 from December 7th to 8th.