The main difference is the use and application of technology in financial services, which allows offering these in a different way for those who do not have time to carry out the procedures, do not want to go to a branch, do not have the documentation to open one account according to the requested requirements, or live in remote places where it is difficult to access a traditional scheme.

Fintech companies are highly innovative in the application of platforms such as Artificial Intelligence or Machine Learning, the combination of which allows detecting suspicious activities practically immediately. For example, the Cuenca protocol contemplates contacting the user to report irregular movements and to be able to take the necessary actions to ensure data protection, always in accordance with Mexican regulations.

One of the biggest challenges is building confidence in the adoption of new technologies by users. There it is important to make known that they have options for digital financial services at their fingertips, but also that all participants in this system comply with the regulatory framework, the operational standards for the safeguarding and protection of both personal and financial data, and design their products putting the user at the center, making them friendly and with a high quality customer service that contributes to the construction of said trust.

• The price of Bitcoin ({BTC-USD}) is determined by supply and demand. Each bitcoin has a key or private key attached to its code that can be shared to take or grant possession of it. In the early days of this cryptocurrency, someone who wanted to get bitcoins to transact had to personally or virtually search for someone interested in selling or buying.

There is a rumor that Bitcoin or other crypto is a mechanism to finance illicit activities. However, according to a study by Stanford academics, only 1% of the activities in the selected sample were found to target illicit activities. It is true that public transactions are anonymous, however, each user (or wallet) has a public key with which the transactions that are made can be followed. If the purchase is made through a mature exchange, the public key is registered in the name of a person whose data is held.

There are more and more players in the Fintech ecosystem and each one offers a different range of services, this is for nationals and foreigners and aims to maximize the use of technology to provide financial services in a more friendly way.