Back in the early 18th century, there was nothing like a stock market or fin-tech-like thing. Can you imagine how they used to compound their wealth?
The rich people used to bet on the ships that travelled in long ocean bodies searching for treasure like precious materials. The wealthy people give some money to sailors to give them some amount of treasure in return.
But rich people notice that if they put all the wealth in a single ship, there is a high risk of losing it. So they started to put some money in different ships rather than putting it on the sing one. Here comes the concept of “Never put all your eggs in a single basket”. And the idea of diversification came into play at that time back in the 18th century.
With the onset of a digital revolution, the stock and banks shifted to the digital world, and people started to use them as apps rather than going offline. How big Fin-Tech companies like PayPal, CoinDCX, Groww was established.
Earlier, it took years to come back from the sea voyage and find treasure, but now the transactions take place in a fraction of time. The digital currency was made like the current era of cryptocurrency booming now a day everyone is crazy about bitcoin and Ethereum kind of stuff.
Back in time, if anyone wanted to buy or sell the share, they had to do it physically by going to where such transactions took place as the stock market. It is so easy because of Fin-tech. Many books are there in the market related to the stock market and lots of videos about the stock market and mutual funds on YouTube.
PayPal Business Model
The concept takes part in the game: why should we trust and use online apps or sites to do transactions with our money.
Here is the example of PayPal why it is same and convenient that everyone is using it because of following reasons:
- PayPal does not share your financial information with sellers.
- They offer 24/7 monitoring of all transactions.
- PayPal uses encrypted security technology to ensure a secure transaction on both buyer and seller’s ends.
- They offer PayPal fraud protection and allow you to flag certain transactions as suspicious.
- If you have a dispute with a buyer or potential fraudster, PayPal offers dispute resolution, holding funds until the issue is resolved.
- PayPal facilitates transactions in countries across the globe, making it possible to purchase things from other countries securely.
What if one day everything online will shatter?
If such a condition appears, then there is a chance of lots of trouble as many giant companies and a massive number of people are using online sources as their means of transaction in their day-to-day lives.
If I tell you that we are completely safe and secured as the large company takes every step to manage their site so that their sites and apps won’t collapse or data is leaked.
