Blockchain will be used by all fintech companies within 10 years

This September, Australia’s Select Committee on Financial Technology and Regulatory Technology released an interim report containing a series of recommendations regarding blockchain.

The Australian government has prepared a report on the fintech sector future in the country, which states that in 10 years all local fintech companies will switch to the use of blockchain technology.

The government believes that blockchain is crucial for the future of Australia, so Australian companies need to pay attention to the development of new technology to make the country competitive in the world market of digital assets.

Committee head Senator Andrew Bragg:

“It is my hope this interim report can be seen as a series of quick wins: new jobs and more choices.”

It is noteworthy that the blockchain report mentioned the new technology more than 50 times, the document was prepared in response to the reduction of coronavirus spread in Australia.

“Most fintech and regtech projects will either be built predominantly on distributed ledger technology or blockchain or heavily using that within the next 10 years.”

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Blockchain enthusiast developer and writer. I love video games, blockchain and the hot symbiosis of these two worlds.

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Jeffrey Hancock

Jeffrey Hancock

Blockchain enthusiast developer and writer. I love video games, blockchain and the hot symbiosis of these two worlds.

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