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Future of Finance
Fintech, explained
"Fintech” is a broad term that stands for “financial technology” and refers to technological innovations in the financial services sector. The roughly $340B fintech industry encompasses everything from mobile banking apps and robo-advisers to digital payment software.

Examples include buy-now, pay-later apps like Klarna, payment processing technologies for businesses like Stripe, cryptocurrency innovations like crypto exchange Coinbase, and peer-to-peer payment services such as Venmo and PayPal.

Despite the industry’s breadth, fintech companies all have something in common: They aim to make various aspects of financial transactions more efficient and user-friendly. The global fintech industry is growing quickly—it currently employs roughly 300,000 people, and is projected to be worth about $1T by 2032.

... Read our full explainer on the tech here.

Also, check out ...
> The Nasdaq launched in 1971 as the first electronic trading hub. (More)
> Roughly 1.4 billion people lack basic financial services—and AI can help. (More)
> The first ATM—dubbed a "cash dispenser"—debuted in 1967. (More)
> Explore a visual timeline of fintech's growth. (More)


Global Jigsaw
Plate tectonics, 101
The theory of plate tectonics explains that the majority of Earth’s geological features—from mountain ranges to ocean trenches—result from interactions between slabs of rock that make up Earth’s outer shell (watch explainer). The slabs—collectively called tectonic plates—vary in size, composition, and movement, and have been dragged by convection currents in Earth’s mantle for at least 3 billion years (see map).

The theory began with rock, fossil, and climatic records suggesting that all land was once one interconnected supercontinent that had broken apart. Decades later, measurements of the seafloor showed that it continuously moved away from mid-ocean ridges. These movements cause oceanic plates to push into continental ones, resulting in earthquakes and volcanoes.

Mapping the locations of these and other geological features has allowed scientists to outline tectonic plates, identify types of plate boundaries, and model the history of Earth’s surface.

... Read our full write-up on tectonics here.

Also, check out ...
> The San Andreas Fault is an example of tectonic plates sliding past each other. (More)
> View maps of seafloor topography, earthquakes, and volcanic activity. (More)
> Stagnant lids found on Mercury, Mars, and the moon prevent tectonic activity. (More)
> You've likely heard of the supercontinent Pangaea—what about Rodinia? (More)

SPOURCE:  1440 NEWS