Blockchain and quantum computing are at the forefront of disruptive technologies which will impact the fintech industry in 2018 and 2019.

That’s according to a report from Juniper Research titled, Top 10 Disruptive Technologies in Fintech: 2018, which found a wealth of positive changes stemming from emerging technologies in the fintech space.

Juniper’s 3 Disruptive Technologies to Watch in 2018:

The top three trends to watch are data mining, decentralised apps and quantum computing.

While the introduction of GDPR (General Data Protection Regulation) in the EU poses the risk of substantial fines for those in contravention, Juniper believes the changes provide significant opportunity to companies offering data that has been sourced honestly and in a transparent manner, an opt-in model allowing for data collection and resale.

Businesses such as ShareRoot, a specialist in data protection, will benefit. The research also praises Microsoft, which announced plans to impose GDPR restrictions across all operations worldwide, not just for EU customers, and argues that this approach should see replication by other global businesses.

The coming year will also see a significant expansion in the deployment of Decentralised Apps (Dapps). Utilising blockchain as their underlying technology, these will create an innovative open-source software ecosystem, both secure and easy to develop for.

Research author Lauren Foye said, “Dapps will pool resources across numerous machines globally, harnessing the power of thousands of idle computers. The results are applications which do not belong to a sole entity; rather are community driven.”

While the requirement to use crypto-based tokens as payment could be seen as a barrier, the desire for a secure, recorded series of processes will drive adoption, with users willing to spend for the benefit and peace of mind, the research said.

Juniper believes 2018 will see quantum supremacy, a quantum computer that can carry out tasks that are not possible or practical with a traditional computer. Implications include the rapid solving of complex algorithms, redefining areas such as fintech, logistics, and research and development. While mainstream use is unlikely until 2023 at the earliest, industry players should plan accordingly, to avoid falling behind rivals.

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