What are the opportunities for IoT in the finance sector With rapid digitization and mobilization in the banking and financial services industry, businesses are exploring the possibility of IoT in finance to leverage data and to minimize the risks that are endemic to this sector.

The finance sector, which deals with an abstract commodity like money, doesn’t involve many tangible elements in its business. And this lack of “things” may cause doubts over the applicability…

IOTTechnology
Read more

IoT is all set to make its presence felt in the Insurance sector IoT in insurance can potentially redefine the role of the sector from one that compensates for the loss of the policyholder to one that prevents potential losses.

The insurance industry has traditionally been viewed as a group of businesses that financially compensate individuals and organizations for losses incurred by them. The biggest challenges faced by insurance organizations…

IOTTechnology
Read more

Here’s why you can’t and shouldn’t replace traditional bulk payment systems with Blockchain immediately Due to its association with ledgering and transactions, blockchain has been viewed as an obvious replacement for existing payment systems. However, immediate use of blockchain in bulk payment system,s despite blockchain’s current immaturity, may prove to be risky.

Blockchain, which is inherently a ledgering system, is being considered to form the basis of all future transactional systems. This is especially true for the bulk payment systems, such as…

BlockchainTechnology
Read more