When it comes to the heady world of global finance, the subjects we could delve into are almost limitless. From chats about the NASDAQ to the latest vicissitudes of the FTSE, from the increased use of the Euro as new countries sign up to it, to the value of the mighty US dollar, and those are just a few conversational nuggets to start with.
One discussion that is always going to be relevant in the current climate is the impact of the digital revolution on finance. What has technology done to change global finance, how has it impacted various industries, and what opportunities have been, and are continually created?
This last sentence above, and what it details is, in and of itself, a complex topic. Even so, it is one that is always worth further content, and deserves a deeper dive into what this all means for global finance and industries that are growing as a direct result of such fiscal and technological advancements. Just to start the ball rolling, let’s take the online casino sector as an example. Without technology, this would not be a sector but, and this is important, without FinTech, it would never have become the multi-billion-dollar industry as it is now. Whether it’s playing poker on the phone in London to pass the commuting time, enjoying some tablet based roulette on the train to Paris just for fun, or playing online slots in Canada for real money on your laptop as a weekend pastime, this is an industry that has harnessed the power of FinTech and combined it, highly successfully, with the opportunities that online entertainment has to offer. Indeed, it has taken a bricks and mortar casino landscape and brought it to the masses online.
There is, of course, more to discuss, but you may start to see my point. As my title suggests, from the world of high finance to Five Card draw, the coming together of fintech and online entertainment has been a marriage made in heaven, so to say. But just how far have the technological advancements of FinTech taken the world of online entertainment opportunities, and how are these two digital developments so seemingly and intrinsically linked? Well, if we think about the fact that both FinTech and online entertainment are global behemoths that complement each other, that may be a good starting point.
Digital Developments Driving Greater Online Entertainment Revenue
I think it is fair to say that the digital developments that have not only brought the internet to the world but have made it a daily reality for billions of users, have created a wealth of opportunities for many around the world. By this, and to be clear, I mean the opportunities for both those in any kind of digital or online business and those who enjoy online entertainment as a pastime. Think about it for a moment, and you will likely be able to name, almost immediately, a form of online entertainment or a pastime that you enjoy, and even the last fiscal transaction you made that was made possible by a digital development. There, you have thought of more than one already, I suspect.
For tech entrepreneurs, everything from the world of eCommerce to iGaming has created a whole new industry combining FinTech and virtual entertainment. Equally, for anyone, and this is billions of us, who love to enjoy online entertainment, the options are too numerous to count, and the variety of virtual fun options almost endless. Take a look at any finance focused web content, you’ll soon see the convergence of tech and online games, for example, and how these two industries overlap and, in many ways, feed each other’s ascendancy to greater heights.
From fun revenue comes to those who are creating these virtual playgrounds, and without the FinTech element, some of these sites, apps, and forms of digital revenue drivers would not even exist.
Future Looking Bright For Digital Finance And Related Industries
I do not have a crystal ball, and no ability to predict the future with certainty. If I did, my financial future would be one with a lottery win, but I digress. What I can do, however, is look at the present, and how we have arrived here, and suggest the trajectory that may be likely when it comes to digital finance and the growth of some related industries. As discussed earlier, one of the many ways in which FinTech is used is to protect and preserve the integrity of financial transactions and activities. Whether it is online stocks and shares trading or day to day contactless payments, booking a holiday online or playing poker in a global online tournament, the safety that comes with FinTech is ever more sophisticated. Ultimately, this makes the world of both online entertainments, especially where payments or fiscal transactions are involved, both safer and more inviting.
Furthermore, this is big business for many in the FinTech world. Naturally, there are many sectors of digital finance that are thriving, growing, and becoming global success stories. When you look at the number of FinTech start-ups, however, you will soon see that it is part of the digital finance sector that is doing particularly well. Beyond this, eCommerce continues to boom, the number of digital transactions done globally each day is still growing exponentially, and online entertainment platforms are becoming increasingly hard to count.
From the companies that process such payments to those investing in online leisure, it would seem to me that when FinTech meets Fun, the opportunities are almost endless, and that may well be the future for this and all other related industries both within and outside finance.