The recent development in blockchain technology has led to interest from corporations and governments around the world. Jeff Yastine believes that blockchain technology represents a unique solution to issues that have been plaguing the cyber security industry for years. Due to the unique application of the blockchain technology Jeff Yastine thinks that it could be one of the largest growing sectors of the economy in the coming years. This means that it could be one of the best investments for investors that are looking to diversify their portfolio. Learn more about Jeff Yastine at Crunchbase.
It is always easy to see that an industry is beginning to grow whenever bureaucrats began to take notice of it. One of the new areas of technology that represents a significant growth potential is regulatory technology. Regulatory technology is an amalgamation of various tools such as artificial intelligence and blockchain technology that will enable corporations to cut regulatory costs. There are already over 80 companies that have been developing this technology in an effort to cut the costs of regulatory issues in industries such as insurance and banking. Follow Jeff on Twitter.
Most of the companies that are developing regulatory technology are still in the startup stage. Jeff Yastine believes that several of these companies are poised to experience significant growth in the next several years, however. This is due to increasing demand for regulatory compliance technology to help corporations such as banks, who spend $70 billion a year on regulatory compliance, boost their profits using the new technology.
As of right now it can take up to $10 million using legacy computer systems to handle compliance and maintain it up-to-date. The new regulatory technology represents a good solution to how the banking industry can cut some of these costs. Instead of costing over $10 million some banks are able to cut costs all the way down to $300,000 using a regulatory technology specialist.
Jeff Yastine works for Banyan Hill Publishing Company. At the company he is tresponsible for the editing of Total Wealth Insider. Total Wealth Insider is a publication that aims to inform its readers on new potential investment opportunities. Opportunities that represent significant potential for return on investment. Jeff Yastine has over 20 years of experience in the finance industry and has worked both as an investor and as a financial journalist. He is most popularly known for his viral video in which he discusses Kennedy Accounts a unique term given by Jeff Yastine to Direct Stock Purchase Plans.