Fintech Companies, Virtual Assets and the Digital Age: Challenges and Opportunities in México

Abstract

In the 4th industrial revolution and financial disruption stage, the information technologies, technological innovation, artificial intelligence and, virtual assets, among another concepts, have changed the society way of life, the use of smart telephones to carry out economic activities, the payment and investment methods have gone from the traditional methods of banking to the management of virtual assets and, the internet as a platform for use; however, the technological issue is still unknown for a large part of the population, for some sector, it is an innovative way of investment and business, but unfortunately for others, it is the source for cybercrime. Carrying out a search of the various concepts considered in the environment of the digital age and analyzing the appreciation of various specialists in the field, a documentary descriptive research was carried out and, using the deductive method, the different sources of specialized information were reviewed with the aim of go through the characteristics of crypto assets, virtual assets and also Fintech enterprise, as well as the challenges and opportunities they face in the era of the fourth industrial revolution and the new applicable legislation on the matter, as well as the risk and vulnerability of These companies to be used in the pursuit of cybercrimes such as fraud and money wash, among others, that are taking hold with the current situation of the pandemic caused by COVID-19. Fintech companies use digital innovation to offer more efficient and economic financial services to the population that do not have traditional banking, currently having to adjust to the new regulatory issues for its operation, considering that Mexico ranks 2nd place in cyber attacks, It represents a great challenge for all users of financial technologies to develop the culture of implementing cybersecurity with the aim of preventing the achievement of cybercrime. Also, considering the current context described above, the opportunity for economic growth and development of Fintech companies and users of financial technologies is created.