Investment Opportunity of Financial Technology

FinTech is a new term combining finance and technology. The term did not exist until the end of 2014. Although there is agreement over what finance is, there is no agreed upon definition of technology. It changes with time. American sociologist Read Bain wrote in 1937 that technology includes all tools, machines, utensils, weapons, instruments, housing, clothing, communicating devices, and transporting devices and the skills by which we produce and use them. Scientist Ursula Franklin [1992] gave a different definition in 1989 and referred to technology as a “practice, the way we do things around here.” Rather than referring to the objects that people produce and use, scientists and engineers usually prefer to define technology as applied science. Still, there are other views, such as French philosopher Bernard Stiegler's (1988) definition of technology as “the pursuit of life by means other than life” and as “organized inorganic matter.”