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5G TECHNOLOGY
How fintech will drive 5G adoption
5G will become widely adopted first to meet the needs of fintech and other industries through the application of mobile and digital next generation financial services that will apply emerging technologies . These emerging technologies will converge to provide faster , cheaper , and better services for more people that did not have access to these services before .
Fintech is going to drive 5G , not the other way around . 5G will enable network downloads as fast as 20 gigabits . Today most broadband is through fixed lines and fiber optics , but 5G will enable this enormous volume of data to move via mobile . It will also accelerate the ability of machines to share data , ultimately meaning every device in an urban area can be connected .
However , cross-industry generic video or consumer gaming won ’ t be the things that drive real adoption , or further provide a solid ROI , or even at a more macro-economic sense further contribute to GDP growth . Consider instead emerging markets lacking even 3G today ; they can leapfrog straight to 5G . There ’ s very limited , hard to access or no bank branches in many of these markets and locations , so as their economies grow , digital banks will need virtual tellers and virtual advisors and " micro branches " all requiring higher bandwidth and latency . The coming era is one of “ ubiquitous or embedded financial services ”, in which banking becomes an embedded utility within many other industries , supporting lifestyle choices .
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