The banking industry is no stranger to innovation and disruption, with new technologies constantly emerging and changing the game. One such development is Open Banking, which has the potential to transform the way financial institutions operate and interact with their customers. By allowing third-party providers to access bank data, Open Banking can foster competition and…
The rise of Web3 technologies and blockchain-based systems has significantly changed traditional online interactions. Social media, in particular, has been greatly affected by these developments, with the potential for a new wave of decentralized social networks. In this article, we’ll explore the impact of Web3 on social media, examining the potential for decentralized networks that…
“Working in the IT industry for many years has made me consider how technologies are helping to improve the processes of businesses. Some say that technology implementation isn’t worth it, but I believe that we can incorporate the potential of technology into any existing project”…. That’s why it’s so important to see more use cases…
Blockchain technology has been making waves in the tech world, with its potential to revolutionize industries and change the way we conduct transactions. As a decentralized and secure ledger, blockchain has the power to transform the way we store and share data and offer greater transparency and trust in our digital interactions. In this article,…
This means that Web3 is an industry in which we’ll likely see the highest concentration of corporate innovations now and in the near future. This year, many corporations are investing in artificial intelligence (AI) and machine learning (ML), which are key drivers of digital transformation. One of the most common requests FortySeven has received in…
Before we dip into: According to a report by MarketsandMarkets, the global smart contracts market size is projected to grow from USD 13.7 billion in 2021 to USD 30.2 billion by 2026 at a Compound Annual Growth Rate (CAGR) of 17.6% during the forecast period. A survey by Deloitte found that 73% of respondents agreed…
Digital transformation has become essential for businesses to remain competitive in today’s ever-changing technological landscape. Working for many years with many diverse clients from very different industries, I continue to see how important it is for businesses to follow new technological trends and embrace digital transformation. While many businesses have already embarked on their digital…
The digital asset management market is expected to grow from $3.4 billion in 2020 to $6.0 billion by 2025 at a compound annual growth rate (CAGR) of 12.0%. (Source: MarketsandMarkets) The global cryptocurrency market capitalization reached $1.42 trillion in February 2021, up from $191 billion in January 2020. (Source: Statista) In 2020, the total value…
According to a study by Statista, the global market size for Web 2.0 services was estimated to be around 20.4 billion U.S. dollars in 2020. A report by ResearchAndMarkets suggests that the global Web 3.0 market size is projected to grow from 3.0 billion U.S. dollars in 2020 to 21.0 billion U.S. dollars by 2025…
Are you tired of the limitations of traditional on-premises storage systems? Of course, you do! We are also sure you constantly worry about data storage and backup. Because local storage is not enough to store extensive data and backup simultaneously, the need for cloud or online storage arises. In today’s fast-paced digital world, cloud storage…
Latency time is everywhere. It’s basically the time between when a customer performs an action (like clicking a button or swiping their screen) and receives the result created by this action. It’s the same for both websites and mobile apps. Of the 4.5 billion people who used the internet in 2022, 4 billion of them…
The world of payments is rapidly evolving, and one of the critical drivers of this change is the use of APIs and blockchain technology in the payment processing system. APIs facilitate data flow between payment providers, merchants, and consumers. While Blockchain, on the other hand, is a distributed ledger technology that provides a secure and…
FortySeven Software Professionals is a leading European based software development, IT staffing, IT outsourcing and IT consulting company (certified with ISO 27001, ISO 9001). We help companies from F500 and startups to fulfill missing expertise for short-term and long-term projects.
