Advancements in Blockchain, Cryptocurrencies, and Biometrics
The future of blockchain, biometrics, and cryptocurrency for 2021 are looking very bright as more and more big companies have begun to recognize their capabilities and invest.
Blockchain technology is trending. There are many advancements being made to the technology which makes it much more accessible. More and more people are betting on cryptocurrencies, making blockchain technology even more important. As demonstrated by a Piplsay article, cryptocurrency has become abundantly relevant as big companies and banks begin to accept it as payment. Here are the facts:
· 52% of Americans have invested or are planning on investing in crypto in 2021
· 27% of Americans are planning on investing in crypto in 2021
· 50% of Americans feel crypto is a safe investment
· 57% of Americans think brands should accept crypto as payment
· 25% of Americans have already invested in crypto
Digital currencies are becoming more and more applicable in today’s markets. This shift is comparable to when the internet first became popularized—novel advancements can be intimidating at first, but will indubitably become a natural part of our economic ecosystem.
Additionally, as IoT devices become more popularized, biometric technology is in the headlines. Biometrics in healthcare during the pandemic has shed light on how widespread and important the use cases are. According to multiple reports done by BiometricUpdate.com, the biometric market is about to boom:
· Biometric system markets are to grow by $30 billion in the next 5 years
· Government biometric initiatives will boost the market by $18 billion
· By 2025, biometrics are anticipated to lead the verification market
BiometricUpdate.com writes, “Multi-factor authentication is expected to be the fastest-growing segment by authentication type, led by the government and defense sectors, while systems that are a hybrid of contact and contactless modalities will grow faster than either contact or contactless systems.” Government investment in biometrics, coupled with the ecommerce spike has created the recipe for major economic growth in the biometric market. Additionally, the healthcare reliance on the technology and growing uses for this technology during the pandemic have created urgency for more development. Overall, biometric systems are trending upwards and are undoubtedly the future.
Finnovant works hard to study these trends and update our products accordingly. We make customizable solutions so that consumers do not compromise on their most important needs. Our Phēnix X1’s digital wallet is compatible with the new trends of cryptocurrencies and Blockchain ecosystems. We recognize the future of payments and biometrics. Say-Tec is our infallible biometric authentication technology.
Contact us today to learn how Finnovant has a solution for you.