This post was written by Lynn Weinstein, Business Reference and Research Specialist in the Science & Business Reading Room.
Financial technology, otherwise known as fintech, has been revolutionizing the financial services industry by changing the way we handle banking and investing. This includes using mobile phones to cash checks, check the balances on accounts, make payments, borrow, and independently invest. Consumers can leverage this technology to effortlessly manage their finances.
One element of fintech is cryptocurrency, which refers to digital assets that use cryptography for security and operate independently of any central banking structure. These digital assets are created using computer networks, and transactions involving them are recorded using blockchain technology. Individuals need to create wallets to create and hold the keys that allow them to receive, access and send money, and their transactions, while private are transparent. According to a 2023 Federal Reserve survey, published earlier this year, it was estimated that 7 percent of Americans held or used cryptocurrency in 2023, with the majority holding it as an investment.
Are you curious about cryptocurrency, blockchain technology, or the broader world of fintech? Whether you’re a student, researcher, or simply someone interested in learning more, the Library of Congress Business Section, in the Science and Business Reading Room, offers a valuable resource: our recently updated Fintech: Financial Technology Research Guide. The guide provides links to federal regulatory sites, industry associations, subscription databases, and print titles – all selected to support thorough, informed research.
This comprehensive guide includes a dedicated section on cryptocurrency and blockchain technology, offering reliable, up-to-date links to trusted sources. The guide provides definitions and information from expert resources including the Congressional Research Service (CRS) and other government entities, presenting a well-rounded view of digital asset-related developments, regulatory updates, and technical advancements. To look for the most recent proposed legislation on this technology, search Congress.gov.
With fintech and digital assets rapidly evolving, staying informed can be challenging. Our guide offers a starting point to understand crypto’s developing role in the financial landscape. Explore this resource guide to find essential knowledge and resources that support your research into fintech, from introductory concepts to in-depth analysis. If you have additional questions, please feel free to ask them through our Ask-A-Librarian service.
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