Forbes Magazine's Fintech 50 list highlights a vibrant entrepreneurial niche that is shaking up the $8.5 trillion U.S. financial services industry. Fintech (financial technology) startups drew in $27.4 billion in investments during 2017. That’s up 18 percent from the year before.[1]
The vitality of this emerging industry is highlighted by the fact that 22 of the top 50 firms on the Forbes list are new entries this year.
In my book, "Politics Has Failed: America Will Not," I explain how these emerging technologies will shape the future of finance far more than the policy debates in Washington.
More than a trillion dollars will be paid through mobile devices by next year. As Forbes puts it, "Cash might not be dead yet, but the world of digital payments — both from consumers to businesses and between businesses — is evolving faster than ever before."[2]
Nine of the 50 fintech firms on the Forbes list are in the blockchain and cryptocurrency world. Among the most disruptive of all new technologies, this field offers the potential of a currency and monetary system that is free from political and government control.[3]
Footnotes:
- Forbes, "The Forbes Fintech 50 For 2018," February 13, 2018
- Forbes, "Forbes Fintech 50 2018: The Future Of Payments," February 13, 2018
- Forbes, "Forbes Fintech 50 2018: The Future Of Blockchain And Cryptocurrency," February 13, 2018
Each weekday, Scott Rasmussen’s Number of the Day explores interesting and newsworthy topics at the intersection of culture, politics, and technology. Columns published on Ballotpedia reflect the views of the author.
Scott Rasmussen is founder and president of the Rasmussen Media Group. He is the author of "Mad as Hell: How the Tea Party Movement Is Fundamentally Remaking Our Two-Party System," "In Search of Self-Governance," and "The People’s Money: How Voters Will Balance the Budget and Eliminate the Federal Debt." Read more reports from Scott Rasmussen — Click Here Now.
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