FINTECH

- NAMAN RANKA

Q.1) EXPLAIN ANY 3-CROWDFUNDING PLATFORM IN INDIA?

1. KETTO: Ketto is one of the most popular crowdfunding platforms in India. It was founded in 2012 and
has since helped raise funds for various social causes, creative projects, and entrepreneurial ventures.
Ketto charges a 5% fee on the total amount raised on the platform, and also charges a 2.5% payment
gateway fee.

2. MILAAP: Milaap is another popular crowdfunding platform in India that focuses on helping people
raise funds for personal needs, medical emergencies, education, and community development.
Milaap charges a 5% fee on the total amount raised on the platform, and also charges a 2.36%
payment gateway fee.

3. IMPACTGURU: ImpactGuru is a crowdfunding platform that primarily focuses on raising funds for
medical emergencies, but also supports other causes like education, disaster relief, and animal
welfare. ImpactGuru charges a 5% fee on the total amount raised on the platform, and also charges a
2.5% payment gateway fee. They also offer an option for donors to cover the platform fee so that all
of their donation goes directly to the cause.

These platforms are great options for individuals and organizations looking to raise funds for various causes
and projects, and each platform has its own unique features and fees.

A) What is Crypto Currency?

Cryptocurrency is a digital or virtual currency that uses cryptography to secure and verify transactions and to
control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to
government or financial institution control, and they use blockchain technology, which is a decentralized and
distributed digital ledger that records transactions in a secure and transparent way.

The most well-known cryptocurrency is Bitcoin, which was created in 2009 by an unknown person or group of
people using the pseudonym Satoshi Nakamoto. Since then, thousands of cryptocurrencies have been
created, including Ethereum, Litecoin, and Ripple.

Cryptocurrencies can be bought, sold, and traded on various cryptocurrency exchanges, and they can also be
used to purchase goods and services from merchants who accept them as a form of payment. Transactions in
cryptocurrency are recorded on the blockchain, which provides a secure and transparent way to track
transactions.

However, the value of cryptocurrencies can be highly volatile, and their use can be subject to regulation or
restriction in certain countries. Additionally, the anonymity of cryptocurrency transactions has led to
concerns about their use in illegal activities such as money laundering and drug trafficking.
 B) List any 3 Cryptocurrencies and Crypto exchanges?

➢ CRYPTOCURRENCIES: -

1. BITCOIN (BTC): The first and most well-known cryptocurrency, created in 2009.

2. ETHEREUM (ETH): A blockchain-based platform that enables the creation of decentralized

applications and smart contracts.

3. BINANCE COIN (BNB): The native cryptocurrency of the Binance exchange, which can be used to pay
for trading fees and other services on the platform.

➢ CRYPTOCURRENCY EXCHANGES: -

1. BINANCE: One of the largest and most popular cryptocurrency exchanges in the world, with a wide
variety of trading pairs and services.

2. COINBASE: A user-friendly platform that allows users to buy, sell, and store various cryptocurrencies,
including Bitcoin, Ethereum, and Litecoin.

3. KRAKEN: A well-established cryptocurrency exchange that offers advanced trading features and a
variety of cryptocurrencies, including Bitcoin, Ethereum, and Ripple.

It's important to note that the cryptocurrency market is constantly evolving and there are many other
cryptocurrencies and exchanges out there.

Q.2 (A) WHAT IS FINTECH?

Fintech refers to technology-enabled financial services and solutions that aim to make financial transactions
more efficient, accessible, and affordable. Fintech companies often use innovative technologies like mobile
apps, blockchain, artificial intelligence, and machine learning to offer financial services and products. Here
are five fintech companies:

Q.2 (B) LIST ANY 5 FINTECH COMPANIES?

I. PAYPAL: A digital payments company that allows users to send and receive payments online securely
and quickly. PayPal also offers a variety of financial services, including a digital wallet and merchant
services.

II. ROBINHOOD: A commission-free online brokerage that allows users to buy and sell stocks, ETFs, and
cryptocurrencies through a mobile app. Robinhood has made investing more accessible to a wider
audience with its user-friendly platform.

III. SQUARE: A mobile payments company that provides small businesses with a range of financial
services, including payment processing, point-of-sale hardware, and small business loans.
 IV. STRIPE: A payment processing platform that allows businesses to accept payments online and in-
person. Stripe has become a popular choice for e-commerce businesses due to its easy integration
with websites and mobile apps.

V. BETTERMENT: An online investment platform that uses algorithms and technology to provide
personalized investment advice and portfolio management services. Betterment has made it easier
and more affordable for people to invest and manage their portfolios online.

Q.3) EXPLAIN FINTECH USED IN BANKING AND INSTRUCTURE SECTOR?

Fintech has revolutionized the way banking and financial institutions operate, making financial services more
accessible, efficient, and affordable for customers. Here are some examples of fintech used in the banking
and infrastructure sector:

1) ONLINE BANKING AND MOBILE APPS: Fintech has enabled banks and financial institutions to offer
online banking and mobile apps, making it easier for customers to access their accounts, check
balances, transfer funds, pay bills, and more from anywhere at any time.

2) PAYMENT PROCESSING: Fintech has made payment processing faster and more efficient, with
solutions like digital wallets, mobile payments, and payment gateways. These solutions have made it
easier for merchants to accept payments and for customers to make purchases online and in-store.

3) BLOCKCHAIN TECHNOLOGY: Fintech has enabled the use of blockchain technology, which offers
secure and transparent transactions, and has the potential to revolutionize the way financial
transactions are recorded and verified.

4) AI AND MACHINE LEARNING: Fintech has enabled the use of AI and machine learning to automate
financial processes, detect fraud, and provide personalized financial advice and solutions to
customers.

In the infrastructure sector, fintech has also played a significant role in the following ways:

1) CROWDFUNDING: Fintech has enabled crowdfunding platforms that allow businesses and
individuals to raise funds for projects and initiatives without the need for traditional banks or
financial institutions.

2) DIGITAL IDENTITY VERIFICATION: Fintech has enabled digital identity verification, making it easier
and more secure for individuals and businesses to verify their identity for various purposes, such as
opening a bank account or applying for a loan.

3) SUPPLY CHAIN FINANCE: Fintech has enabled supply chain finance solutions, allowing businesses to
access funding based on their invoices and receivables, improving cash flow and reducing risks.

Overall, fintech has had a significant impact on both the banking and infrastructure sectors, making financial
services more accessible, efficient, and secure, and transforming the way financial transactions are
conducted.