According to a recent study by FIS (NYSE: FIS), cryptocurrencies are expected to have more of an impact than the metaverse by 2023, although the trend could reverse in the coming years.
The company is a global provider of financial technology and payment instruments, with operations in 146 countries. For example, the study “The Global Innovation Report 2023” was published last week.
The research provides an overview of how new technologies are transforming virtual worlds into reality and redefining traditional business models.
Cryptocurrencies should have more impact than the metaverse by 2023, a trend that may change in the coming years
According to Anderson Lucas, Vice President of Business at FIS for Latin America, the study provides the market with a scenario on new technologies and how they can help companies grow in a wide variety of segments.
“Embedded Finance, DeFi, metaverse, ESG and cryptocurrencies are evolving rapidly and companies that make the right choices when using new technologies will dominate the markets of the future.”
The research also examines how customers and investors view the presence of innovation at the interface between technology and finance. Topics such as tokenized assets, cryptocurrencies, metaverse, real-time payments, artificial intelligence and robotic processes are becoming part of the development of companies’ business plans.
In the long run, 90% of respondents believe DeFi will have an impact on their business over the next three years. Embedded Finance (with 88%), metaverse (with 87%), ESG (87%) and cryptocurrencies (with 84%) follow close behind. For Anderson, companies cannot ignore the arrival of innovations.
“The process of innovation and disruption has begun. It is fundamental to the survival and healthy maintenance of businesses to understand how to apply these technologies and encourage them not to become obsolete.”
In Brazil, technologies and innovations should affect many companies
In Brazil, the survey points out that more than three-quarters of respondents believe major innovations will impact their business over the next 12 months. According to Anderson, great leaders should pay attention to innovations that have already become a reality.
“This is a trend that will affect the market not only this year, but for the next three years. That is why leaders from all sectors need to be aware of the transformations that are taking place today and that are just around the corner.”
To conduct the research, FIS had the participation of 2,000 senior executives from financial services, fintechs, trading and technology companies. The professionals come from nine countries, Germany, Australia, Brazil, Canada, United States, India, Hong Kong, United Kingdom, Singapore.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
