The finance industry has been transformed by the introduction of blockchain technology and cryptocurrencies such as Bitcoin. Central banks are now exploring the use of digital currencies, with 11 countries already launching their own CBDCs.

Smart contracts, which are self-executing contracts written into the blockchain, have emerged as a game-changing aspect of this technology, with potential applications in various industries such as real estate and supply chain management.

Blockchain technology has the potential to bring financial services to the unbanked population, estimated to be 1.7 billion adults globally, and improve security features to nullify cyberattacks. It can also streamline financial processes and connect individuals directly to the global economy, closing the gap between the financially underserved and the established financial bourgeoisie.