The 4th Industrial Revolution, how Fintech Solutions have reshaped our world
The 4th Industrial Revolution: I’m sure you have read about Industrial revolution. You probably first heard of it drooped during any conversation and, in school some subjects were about it. The imaginary behind this transition period is full of many cliches, between some smoke, workforce and social mobility. All of these are perfectly true but it is just the tip of the iceberg. After the first Industrial Revolution happened everything changed. And now we are on the 4th Industrial Revolution, will everything change?
Nowadays, what change is a very different thing of what it used to be 200 years ago; the big difference is that all curves are exponential since the world faced the first World War. Each decade that goes by takes us to a new level of ground breaking discovery and, technology is the one driving us to the future. The 4th Industrial Revolution started at some point on the 70’s. That was the decade when the blur of scientific advance started to mixed with technological cutting-edge development.
What is different comparing the 4th Industrial Revolution with other transitions?
One word: internet. When people used to do business there were two things that couldn’t be avoided: distance and knowledge. Now, when everyone is connected online and with everything available after a browse search, we can say that the world lives under a more democratic paradigm. Social mobility has been increasing because of this and, people is more likely to change not only their status but the social class in less generations than what it used to be 200 years ago.
2010’s era was highly defined by this new paradigm, specially with the use of social media and digital currencies, like bitcoin. Two things drastically changed during this time: trust and connection. Now we are able to trust in many Fintech Solutions. We buy online, we connect online and meet people (Friends and businesses) and handle digital money (Something unprecedent). Life is unthinkable without Amazon, cryptocurrencies and digital banking services and, yes; this is just the beginning.
How many different things can I do in this new decade: 2020’s?
- Opening a virtual account: Yes, you can just go online and open your bank account, no lines, no banking visits. Providers like Revolut and N26 can give you a European banking number and a debit card. This is perfect to use when travelling or on your day to day business. Click on N26 to know if that is a good choice for you. Click on revolut to know all about it and here to compare both of them.
- Get into the crypto-business: Things like get crypto-wallet license are completely possible. You can be a provider or just make investments. Crypto transactions are free between wallets and continental barriers just disappear; this is the perfect opportunity for get your cryptocurrency wallet.
- Digital Wallets: now you can have all your accounts, digital and traditional banking in your cellphone. If you are and Android user you can get your google pay n26 synchronized. Or your can n26 apple pay for iPhone users. No extra fees. And for the best opportunity you can be out, do your regular purchases and, yes without taking out your wallet.
These are only three aspects that have altered our way of living and that will continue to reshaped our day to day activities. As the curve continues, some of these are points of no return. The capacity of businesses and professionals to adapt is becoming mandatory if they wish to survive to tell the story. The market absorbs these and it is perfectly reflected on necessity. We no longer have the same necessity for cashiers, cash, physical offices and, many professions.
Four years ago, there was a Report that predicted all
The World Economic Forum prepared a report on 2016 commenting on how skills, professions and positions are expected to be necessary. And, it could be great news for some or difficult for others. For example, Flexible work is the one aspect that has presented a large percentage around 44%. It is important to notice how this was considered and important subject 4 years ago. We should highlight how the prediction for the next two years is increasing that number rapidly.
Mobile internet, and cloud technology lead the technological trends by a 34%. As the report states, change has been considered in periods of two years. While Big Data impact was highly sensed on the first 2016-2018 period; this current biennium is dominated by Artificial technology, machine learning and biotechnology. Oh, yes: this was drafted in 2016 before the World Pandemic Covid-19. As a fun fact biotechnology and genomics are leading and reshaping this time period.
The changed paradigm
Flexible working hours, coworking spaces, virtual banking, crypto currencies, passive investment, artificial intelligence, machine learning (and, many many others) were subjects on the magnifying glass. The trends were focused on these important changes but now we are facing a cruel and fastest reality. Now the curve is increasing the exponentialy to a moment of true: the Covid-19 pandemic.
It is very important to know that all of these changes were (are) coming before the world started this sanitary crisis. Now we cannot deny that it has speed things up. Telecommuting has turned mandatory for many and, if the choice is available, everyone wants to try it. How many of these people will go back to their boring offices after the storm passes? How many positions are still necessary? Will contracts keep the same or will be they filled with many clauses about subjects mentioned in the previous paragraph?
The 4th Industrial Revolution has speed up and take a no return road, don’t get behind the bus! Browse and learn all you can about how to use Fintech Solutions for your advantages, create opportunities out of these. It is time to notice that the working force will never be the same and it will certainly be better off. Embrace the changes and used them for your advantage, is the internet era.