Frequently Asked Questions
what differentiates FinTech Global Consulting from other consulting firms?
Fintech Global Consultancy is a unique consulting firm whose founders have more than 20 years of combined experience and are industry experts in their fields. The founders have authored articles, implemented blockchain solutions and have hands-on experience. This experience combined with years of domain knowledge, be it technology or accounting, makes Fintech Global a standout from other consulting firms.
Why is blockchain technology the next step in transactions processing?
Blockchain technology uses a decentralized network of computers to process transactions and store data. Because it is decentralized, it is nearly impossible for hackers to hack all computers. It offers the most secure option for transactions and data storage. Companies are exploring blockchain because of the security it offers .
Can Blockchain be integrated with AI, Big Data, and other existing platforms, analytic tools?
With Blockchain, all parties involved in a transaction have access to the same data. This accelerates data acquisition, sharing, the quality of data and data analytics. The progress made by machine learning in the past few years makes AI a great companion for the blockchain to guarantee a secure applications’ deployment. Over time, a system with Blockchain with Big data and AI integration will expand its skill-set using machine learning libraries, and is expected to quickly reach a level where it can act autonomously, reacting to events much faster than previously possible based on the confidence of its observations, and eventually be capable of making predictions about future markets
WHAT IS BLOCKCHAIN?
Blockchain is a distributed ledger that allows transactions to be processed immutably and in real time. Rather than having multiple databases the architecture gives participants the ability to share a distributed ledger that is updated through peer-to-peer replication each time a transaction occurs. This connectivity means each participant (node) acts as both as a publisher and a subscriber. Each node can receive or send transactions to other nodes; the data is synchronized across the network as it is transferred.
How does Blockchain integrate with Smart Contracts?
A smart contract is an agreement or set of rules that govern a business transaction. It is stored on the blockchain and is executed automatically as part of a transaction. Smart contracts may have many contractual clauses that can be made partially or fully self-executing, self-enforcing, or both. The purpose is to provide security superior to contract law while reducing costs and delays associated with traditional contracts.