Venture capital firms (VC) are like venture capital (VC) startups. Thousands of new startup companies ask VCs for help to develop their ideas. In this article, we reveal the most trusted VC investors who pour money into startups in the US, Europe/UK, and Canada. 

But before we name the most trusted Venture Capital FinTech investors in these regions, let’s make sure you know what it's like working with a startup company first.

Venture capitalists are similar to real estate agents who help you rent or sell a property. They are asset funders, which means they provide cash to start-ups with growth potential in exchange for equity in the company. 

Additionally, venture capitalists help companies by providing useful advice, connecting them with influential people in the industry, and helping them establish internal processes that will improve their chances of long-term success. As an entrepreneur in your business venture, you have pros and cons when dealing with VC funders too.

 Venture capital funding gives startups not only financial support but also essential help in the form of supervision and consultative services. 

If a startup fails, its founders don’t have to repay venture capitalists who invested in it for this reason; however, VCs expect to be repaid if the startup uses any equity to get bank financing. 

VC funders help startups at all fundraising rounds and are happy to invest large sums into ideas which they believe in thoroughly - when you find your business angel, be sure to work with them until you've realized all possible potential!

A little possibility of getting financing: 

Startups apply to venture capitalists every day, and the competition can be rough. Venture capitalists fund only outstanding ideas and startups that will be profitable and grow rapidly. 

A startup has to give up a stake if it wants to get venture capital funding. Venture capitalists also invest in companies because they want a say in what happens to the business as well as its direction.

VC investors all have their stipulations when it comes to working with an aspiring entrepreneur or startup in order for them to be eligible for a potentially life-changing investment in their company.

The FinTech Collective was launched in 2012 by Gareth Jones. Since then, the firm has been funding 30+ different startups. FinTech Collective works with startup companies from all over the world at different stages of fundraising. Its goal is to raise awareness for technological advancement within the monetary sector and bring clarity into advanced trading methods.

FinTech Collective encourages interested entrepreneurs to apply for our innovation competitions. 

FinTech Collective is on the lookout for companies that focus on any of the following traits: 

The FinTech Collective has helped platform MoneyLion focus on capital trading and online lending while Nuts was selected for an incubating program that would enable the team to see their innovative idea become reality.

Babak Poushanchi and Bobby Yazdani founded Cota Capital in 2014. They deal with startups at all financing stages, from seed to C round. After launching Cota Capital in 2014, they quickly became prominent leaders in the Silicon Valley tech scene. Their unique approach to funding projects demonstrates their creative vision for the future of the VC world.

Cota Capital funds are on the lookout for companies that focus on any of the following traits: 

Blockchain Capital is a venture capital firm that supports startups in the blockchain sphere. Blockchain Capital was founded by Bart Stephens and Bradford Stephens in 2013 and its headquarters are located in San Francisco, California. The company’s office is currently located on Market Street and it also has an office in Berlin, Germany. Within three years of their founding date, they had raised $7 million for startup projects and currently, work with over 80 of them.

Blockchain Capital only works with companies that are heavily focused on blockchain technology (BT), risk management (RM), cyber security (CS), business, corporate banking, and payments processing. Blockchain Capital has helped to fund Bison Trails, TRM Labs, Securitize, OpenSea.

Harlan Milkove, a young and energetic businessman, established Foundation Capital in 2016. It has thus far helped more than 50 startups in the financial sector. Its primary focus is on long-term prospects. The organization’s approach is to assist ambitious, start-up companies that are looking for their capital at the early stages of their development.

Foundation Capital invests in startups that focus on the following areas: alternative lending, payments, and fraud prevention. Foundation Capital was an early investor in companies like Nextview, Camber Creek, Lerer Hippeau.

Speedinvest is an Austrian VC firm established in 2011. Speedinvest works with first-time technical startups at the early fundraising stages. The firm supports projects connected with the finance and technology spaces as well as all the amazing ways their branches can be applied to real world settings!

Speedinvest has a particular emphasis on startups that focus on: 

When Speedinvest considers how much money they are going to invest in a startup, they look at several factors including the size of the market for the company's product, what type of value it will bring to its customers, and what other resources are available. Speedinvest has funded startups including Actiondesk, Aircloak, and Cashpresso.

In 2014, Johan Lundberg established NFT Ventures with a focus on the FinTech industry. Based in Stockholm, Sweden and has already funded more than 46 startups in the Nordic region and the UK. It supports startups at the seed stage of development so they can really grow their ideas into something special! \

Some of NFT Ventures' well known investments include Betalo, Toborrow, Mondido Payments & Nowo.

NFT Ventures funds startups who's focus is on:

The Anthemis Group was founded in 2010 by Sean Park and it has become one of the most popular VC investment companies in Europe today. 

The company specializes in direct and secondary direct fundings in startups intended towards the financial sphere. They pour money into both early-stage and late-stage ventures.

Anthemis Group funds startups that concentrate on:

Anthemis Group invests in startups, including those in the US, Britain, and Europe. Fidor Bank, Happy Money, ABAKA , and PayPerks are among the group’s most prominent advisors.

Location: London, England Balderton Capital was founded in 2000 by Bernard Liautaud and Suranga Chandratillake. They now employ about 100 people who work as venture capitalists and they're based in Canary Wharf. 

Their goal is to find startups with the ability to unsettle large industries and they intend on scaling globally. 

Since 2000 they've invested in early-stage and late-stage ventures like:

Earnings before interest, taxes, depreciation, and amortization (EBITDA)

Which Are the Best VC Firms for FinTech Startups?

Since 1994, with the arrival of Amazon and eBay, the way people buy and sell has changed. 

Early marketplaces had limitations, however, they opened up new opportunities for producers, sellers, and consumers. Online marketplaces changed brick-and-mortar stores, which urged every store owner to either completely shift online or at least have a presence there.

Today, we’re able to see a new cycle of marketplace development because of the emergence of blockchain technology. Disrupting nearly every industry, this new technology provides great opportunities for marketplaces to operate differently and provide consumers with more efficient ways to buy and sell products and services. 

If your business offers a marketplace that changes its inventory daily then we recommend considering how this new type of technology will impact the way your business operates and how it will affect transactions. Our first question:

The blockchain is a technology that works by creating decentralized ledgers to track cryptocurrency transactions, contracts between parties, and other forms of transaction. 

A decentralized marketplace enables buyers and sellers to connect directly without any intermediaries. Consumers, Producers, and other vendors are all part of the network.

Just like with traditional marketplaces, blockchain-based marketplaces have producers who provide information about their goods. Sellers also offer raw materials and consumers purchase them. 

There's nothing revolutionary there. However, the blockchain has a few key differences that distinguish it from other technology-powered marketplaces.

What are the qualitative differences between blockchain-based and traditional marketplaces?

By using cryptography, blockchain technology makes Internet-powered transactions safer and more secure by giving each buyer a unique personal code that verifies their identity on the internet. In a marketplace backed by a blockchain solution, smart contracts can be made that would involve automatic transaction settlements, thus making all purchases and sales truly safe from fraud.

The world of retail has changed drastically thanks to the shift toward online shopping. Blockchain technology has taken eCommerce to the next level by providing an even more secure solution for consumers, suppliers, and retailers that makes it easier than ever before to buy or sell just about anything!

How does the blockchain model help resolve disputes?

There are no middle people on a blockchain marketplace. So how do sellers and consumers know they can trust each other? 

Just as with traditional e-commerce, clients and vendors have to agree on certain terms before the point of sale. This is why smart contracts play such an important role in the new decentralized economy as they allow merchants and customers to clearly outline what both parties will receive at the time of purchase. 

There are several ways for digital smart contracts to ensure consumer protection: 

-With escrow services which hold funds during transactions 

-Or via trusted third parties, like the customer’s bank, who verify one or more aspects of a transaction (e.g., because their reputation is on the line)

Once the terms have been agreed upon, the cost of the product is paid for by the consumer. 

The money is held in escrow until they receive their product. 

Once they have received the transaction, they confirm whether or not everything was up to standard and if it was then the money held in escrow is paid to the seller. 

If there are any problems whatsoever, then the funds will be promptly refunded back to them.

However, our second party in this search for a refund is the seller who might feel it's unfair to have provided one. If so, they may take advantage of the blockchain marketplace's smart contract terms to dispute such claims and request their refund (unless such instances are specifically denied by such agreements). But fortunately, most blockchain marketplaces like ours accommodate such instances by implementing more particular solutions:

Resolving disputes with trusted third parties looks like this: 

When discussing terms of purchase, the consumer and seller agree on a mediator who may get involved if a dispute arises. Marketplace owners or any individual in their network can act as a mediator. 

After the smart contract is agreed upon and signed, the mediator receives keys to decrypt messages between the consumer and the seller. 

If a dispute arises, these trusted third party decrypts the contract and works with both parties to resolve the situation.

Blockchain technology continues to advance and several markets have started taking the initiative to use it in their business. 

However, what does this mean for their industry? Let’s look at some innovative blockchain marketplaces that are finding success by utilizing the blockchain, but understand that there is much more to come with these new advancements.

A blockchain-based marketplace is hosted by its users and supported by their computing power. The computers of the users are making space for the marketplace which means that it is always available. 

Besides, removing centralized hosting can lead to more security, privacy, and transparency. There would be no hosting costs for producers, sellers or consumers because there's no need for it anymore.

One great example of decentralized hosting is Sia, which allows users to create marketplaces for storage on decentralized cloud technology. The technology that Sia uses ensures constant availability and the cost is at least 10 times less expensive than other cloud storage providers on the market today.

Removing intermediaries living between you and your business partners means that you needn’t accept third-party terms and conditions. 

Decentralized marketplaces allow each seller to specify their terms and offer more opportunities for consumers to shop around for the best deal. 

Since they are unpoliced, producers and sellers can distribute their product details, prices, and all other content in the way that best suits their needs.

OpenBazaar is a peer-to-peer e-commerce platform that combines the best practices of traditional marketplaces, such as product search and letting brands and sellers set their conditions. This notion helps maintain a balance between redundancy, retrieval speed, and cost for producers and sellers while encouraging healthy competition between them to provide consumers with the best prices and customer experience.

Selling products with the blockchain model costs a lot less than selling on a major traditional marketplace. Since blockchain marketplaces offer lower fees to producers and sellers, that means lower prices for consumers. 

One benefit of using digital currency is that you don't have to trust anybody taking payments on your behalf since payments are transacted directly between the consumer and producer or seller. 

BitBay offers Bitcoin payment method integration, low fees, and low prices for consumers.

Drop-Shipping through a decentralized platform gives producers a toolset to drive their sales, gives sellers a mechanism to earn more, and gives customers access to a broad choice of products from around the world. 

When producers don’t want to present their brands directly, promoting products through sellers is a good idea. Amazon and eBay remain the most popular sellers using the traditional marketplace model. However, blockchain technology provides new ways for sellers and consumers to interact.

First, Products are free to post on the marketplace. Producers only pay when their products are sold. Sellers can set up any kind of shop they like or advertise their products any way that they want to, getting a commission with every sale. Finally, Customers looking for a deal can find one at a price that's most attractive to them.

The Harvest network is a very useful tool for brands and consumers alike. A blockchain-based marketplace platform, it features a reward system where fans can earn up to 60% back on every purchase, sellers can monetize their audience and producers can increase their sales through the former. It seems everyone wins here!

Blockchain marketplaces offer an immutable and time-stamped verification of every single transaction ever made. This approach makes transactions easily traceable and also prevents double charges, fraud, abuse, and any other type of manipulation. 

Syscoin offers a marketplace solution focused on security for consumers. Marketplaces based on Syscoin ensure security through arbitrated escrow services and digital certificates for storing and transferring documents.

Feed transparency is fundamental to the blockchain's DNA. Supply chain marketplaces, therefore, aim to increase trust. 

Blockchain supply chains tend to inspire producers and sellers of products and services to verify their businesses and prove the quality of their merchandise and brands to increase credibility. 

Moreover, blockchain supply chains offer suppliers digital identities with which they can track the progress of goods throughout the supply chain and keep tabs on any defects or changes which may be harmful or tend to weaken customer confidence in a particular brand or service.

Provenance is one example of a decentralized marketplace that enables companies to increase trust in their products by providing information about where they were made over time. Its approach allows producers and sellers to share the same platform, thereby helping them improve the customer experience. For instance, a producer could have vineyards and make wine at their location, then ship the wine to another seller, who eventually sells it to a consumer on the Provenance marketplace.

Smart contracts are important because they make third-party oversight obsolete. They allow parties to enter into agreements directly; the terms of the agreement are stored on the blockchain, and this is what makes it virtually impossible for anyone to go back on their word once set in stone. 

Smart contracts shine when combined with or built upon the top of functionality that has already been developed. 

For instance, Canya users can now enjoy the benefits of unbreakable smart contract-based relationships thanks to its transparent marketplace features that were developed alongside smart contract technology.

Some experts say there’s no question that the blockchain will change the game for online marketplaces. Others believe that, so far, traditional online marketplaces don't need to worry about this new technology. 

However, there’s no point in denying that blockchain technology is gradually disrupting many industries, retail among them. Early blockchain marketplaces illustrate bit by bit how this will play out and how it seems as if traditional online marketplaces should watch their backs because blockchains could pose a serious challenger to their businesses in the long run.

We’re contributing to the industry's understanding of blockchain technology. We publish information about blockchain, its potential uses in the enterprise, and insights into how it could affect various industries. Check out our blog for more info!

Why Should You Consider Implementing Blockchain Technology in Your Marketplace?

Increasingly, banking is becoming more and more technology savvy. The number of smartphone users is growing steadily, and Statista surveys say that the figure will pass about 3 billion by 2020. The trend for banking apps is also progressive. So what factors determine the need for investing in a mobile app?

Benefits of building a mobile banking app

While the benefits of mobile banking for consumers are clear (convenience, security, ease of access), mobile banking also presents some distinct advantages for the banking industry itself. Let's take a look at why your organization should invest in it.

1. Mobile banking lowers a bank’s expenses

Mobile transactions increase overall efficiency for banks by:

Helping banks go paperless by reducing the need for printed statements and login sheets; 

Saving money on printing and delivery involved with mailed statements to customers; 

Eliminating the need to expand banks with additional workers needed to physically deal with paper statement issues.

According to research from the consulting firm Deloitte, transactions done via mobile banking over the next decade will cost a tenth as much as a similar transaction carried out at a physical branch and three times less than an ATM transaction. This offers an opportunity to decrease operating costs and increase profits for banks that embrace it.

2. Significant return on investment (ROI)

According to a study by Fiserv, mobile banking can be a crucial way of keeping your customers engaged and draw new ones into your fold. By increasing the use of a mobile platform for banking services, a company that uses its service can expect to increase overall revenue and reduce customer attrition rates by up to 15%.

Engaged mobile banking customers use more services

Compared to branch-only customers, mobile banking customers are more affluent. They tend to hold multiple products from their financial institution because they are more engaged with companies and services than branch-only customers.

Mobile customers stay with financial institutions longer

Mobile banking attrition rates (chunk rate) are lower than those of traditional banking users. More and more consumers now prefer to conduct their business over their phones as opposed to with the physical banks.

Mobile customers complete transactions more frequently

Research stated in the ABA Banking Journal illustrates that enabling customers to access their financial information at the time of making a planned purchase can increase additional transactions. As said, mobile banking services improve revenue averaging $49.40 per month than non-mobile banking services which only generate $24.50 per month. Pertinent findings also show that approximately 86% of direct banks’ revenues are attributable to non-mobile users, while 70% of investments are attributable to mobile banking service users!

A positive customer experience is extremely important to any business, including a bank. Here"s why mobile banking apps contribute to improving customer experience. 

Providing your customers with 24/7 availability is so important if you want them to have a positive experience. The mobile banking app allows them to access their accounts whenever, wherever and however they prefer so they can do things like checking their balances or transfer money whenever it’s convenient for them.

Mobile banking delivers services to customers’ fingertips. Banks that use mobile apps to carry out transactions around the clock are highly appreciated by their customers because of the convenience they offer.

Personalization. Personalization is important because it makes the customer experience much more relevant and congruent to your target audience. With all of the recent studies that prove personalized interactions result in better user loyalty, now is the time to take heed.

Full control over customer account balances. For businesses, banks and banks of all kinds can help give their customers access to highly flexible features that help them manage their finances with up-to-the-minute information about their account balances so they’re able to monitor their finances and transfer money instantly.

Security is one of the top concerns for customers. Online and mobile banking both bring their risks, but the use of additional hardware security makes mobile banking more secure than its online counterpart. 

To maximize security, banks use security solutions such as gesture patterns and biometric data like fingerprint and retina scans in addition to traditional passwords and two-factor authentication. Almost all financial institutions use encryption to protect financial information and privacy which guarantees worry-free mobile banking.

Building on this, there is less chance of malware infecting the app because of the proliferation of platforms. Even if you lose your cell phone with all personal financial data on it, that information is still secure.

With a mobile app, businesses can obtain and process raw data, which provides statistics on how their customers interact with them. These statistics demonstrate patterns between customers and ways in which they respond to the brand's services and products, ultimately resulting in performance improvements. For example, accessing metrics via customer satisfaction/dissatisfaction rates shows whether or not the product is operating as expected.

Acquisition metrics help track how many downloads a mobile app has and from where. This is important for banks because understanding which marketing campaigns are successful can help decide how to invest their budget wisely to get the most out of their mobile application. 

Measuring performance is extremely crucial as crashes or slow loading might impact the user experience greatly, therefore it's best to understand why a mobile banking app operates with high churn and abandonment rates.

6. Retaining users with push and in-app notifications

Push and in-app notifications can be a boon for both you and your customers. They make customers aware of relevant offers and discounts, and they let them know about rate information, account limits, credit limit changes, or other suitable financial information. 

Banks that have already implemented the feature have an advantage over other financial institutions because push and in-app notifications can enhance their reputation among app store users. For instance, BNP Paribas has seen a 60% increase in its App Store rating since it began implementing targeted push and in-app notifications.

7. Ability to use Artificial Intelligence

Artificial intelligence is not just for machines anymore. Increasingly we're seeing artificial intelligence being implemented into other products and services through AI technology intended to improve the experience of users. It's having a big impact on banking and other sectors as well as online products and services that understand and work to meet user needs without any human intervention.

The biggest promise that artificial intelligence holds for the mobile banking sector is speeding up efficiency. It is an interesting trend that financial institutions have started to let go of resistance to it by implementing 32% AI integration strategies so far this year, while 62% are planning their implementation in 2018. 

Let’s look at how it can revolutionize this industry specifically.

Personalized notifications and customer service

Just like the way banks can make use of beacons and sensors in their physical locations, they can also make use of beacons and sensors to communicate with you when you're in another location. When placed in grocery stores, for example, these beacons could help your bank send out personalized offers to you based on your shopping behaviour.

Using chatbots in the financial sector instead of hiring human assistants saves money and provides customers with a more tailored experience. A recent poll has indicated that people tend to prefer artificial heartiness over traditional methods such as email or online forms. 

For example, Bank of America has introduced their Erica chatbot that helps clients make smarter decisions. Erica gives her clients personalized recommendations through voice recognition or text messages day or night.

Algorithms based on artificial intelligence (AI) can intelligently advise consumers and businesses on various financial decisions such as investments, insurance, and financial planning. These computer programs make use of large amounts of financial data to base their judgments and analyses on a much more complex scale than that which humans could ever hope to accomplish.

Fraud detections. Using the latest AI technology, you can predict fraudulent behaviour and design your system to avoid it before it happens. One of the ways AI can do this is by profiling customers and immediately cutting off transactions if there's anything unusual detected like sending an ATM pin code or a credit card number through an SMS message or unsolicited emails for example. Not only does the use of AI help to prevent fraud directly but it also gives a very accurate risk assessment.

Why Banks Need Mobile Apps: 7 Significant Benefits

Today we rely on technology more than ever. 

Our lives would be more difficult without all of the helpful gadgets and machines that make life easier. 

We see improvements in every industry due to modern technology, but none greater than our healthcare system. 

As patients, we can't wait to go home and use our new mobile photo printers; hospitals use robots to serve food and medicine, and doctors use robotic arms to deliver diagnoses through video calls instead of physically coming into the lab!

This is partially due to the increasing need for medical app development agencies in the USA. 

New advancements in technology and science will help patients and their caretakers manage treatments and self-care, reducing stress which may arise when they require assistance from other caring persons or anonymous professionals.

Many healthcare software development services companies find that incorporating innovations in medicine and telehealth services with existing physical ones through mobile apps can be a valuable asset. 

In the future of medicine, smart technologies such as smartphone sensors, cloud storage applications, and data analysis will play an important role in bringing forward digital and innovative health services.

As per reports by Global Market Insights, the innovative technology of the Surgical Robots Market size exceeded USD 4.6 billion in 2020 and is anticipated to grow at a CAGR of over 17.4% between 2021 and 2027. 

The global IoT in the healthcare market size is projected to reach USD 534.3 billion by 2025 expanding at a CAGR 19.9% over the forecast period, according to a new report by Grand View Research, Inc.

A new study shows that, by 2026, global telemedicine markets will grow from the current $89 billion to $400 billion. This is faster than we expected! 

Another report by Global Market Insights states that the growing adoption of surgical robots in gynaecology procedures will offer significant market revenue opportunities. The gynaecology segment is estimated to witness around a 17.5% growth rate through 2027 led by the increased usage of robotically assisted surgeries for gynaecological procedures.

According to MarketsandMarkets, the healthcare business innovating cloud computing is predicted to be worth $64.7 billion by 2025 growing at a CAGR of 18.1%.

Blockchain in healthcare is a powerful solution in medicine in general. The goal of blockchain software in healthcare is a decentralized accounting system that manages medical records. This happens when an authorized command to the government or EMR opens the built-in data store.

Innovative technology powered by blockchain helps everyone in the healthcare industry from developers, to patients, health care providers and their services. CURES Token ecosystem connects all stakeholders to offer value-driven services that reward its users while saving both time and money. The platform gives added value to every relevant interest group. 


It is now possible to have high-speed internet and great healthcare without wires! Mobile applications now enable patients and practitioners to communicate quickly and more efficiently than ever, which is bound to make a big difference in the lives of those who need it most.

Qualcomm and Dr David, Professor at Haas School of Business and Chief Executive Officer of the Berkley Research Group, collaborated with this article entitled “5G Mobile Impact on Health Care Sector”, outlining how $650 billion in savings will be generated by 2025 as the focus moves from volumetric healthcare to value-based healthcare as per Goldman Sachs’ estimation.

Hybrid Closed-Loop Insulin Delivery System

The most promising breakthrough in healthcare innovation technology will be a hybrid insulin delivery system commonly known as an artificial pancreas. This is the next step in developing a fully automated delivery system.

This innovative health system is designed for the treatment of type 1 diabetes. An automatic insulin delivery system that connects a constant glucose meter to an insulin pump, removing the necessity for diabetic people to self-test and monitor insulin levels. Studies have shown that this system stabilizes blood sugar levels and lowers A1C levels by an additional 0.5%.

Medtronic, for example, recently secured FDA approval for its MiniMed 670G hybrid closed loop system which offers a unique way to manage Type 1 diabetes. This product is a significant development in the evolution of artificial pancreas systems because, while it is not a standalone device capable of controlling blood sugar levels without carbohydrate intake or a baseline blood sugar level reading, it brings artificial insulin sensitivity closer.

Nanomedicine is a dedicated medical application for health care technologies that use the principles of nanotechnology. In 2022 it will be used as a diagnostic tool as well as a therapeutic resource for dedicated nano-based medical innovations, assisting clinicians in their day to day work.

Researchers are now looking for new ways to target individual cells with nanomedicine, and research is beginning in 2021. Cyt Immune Sciences, which was recently acquired by pharmaceutical company Stemedica, launched a Phase 1 study on the use of gold nanoparticles to target drug delivery to tumours. Biopharmaceutical company BlueWillow Biologics also developed nano-technology to fight viruses and bacteria.

The idea of bringing a lab to the samples is the brainchild of researchers at Stanford University who recently developed a so-called “lab on a chip” based on the CRISPR enzyme Cas12. The device is about half the size of a credit card, containing a complex network of channels less than one human hair wide, can detect coronavirus in less than 30 minutes, and involves the new state-of-the-art MEMS technology.

The medical researchers say that the diagnostic can also be used to screen for other infections by recalibrating the CRISPR enzyme to various genetic markers. 

As the COVID-19 epidemic has taught us, testing is an important step in fighting an epidemic. Lab-on-a-Chip makes these tests fast, safe, economical, and effective.

Gene Therapy for Inherited Retinal Diseases

Gene therapy for hereditary retinal disease will make treating this rare condition easier. There are currently no known cures for this genetic ailment, but the effort researchers are putting in to study specific genetic causes may make restoring vision to the afflicted possibly someday soon.

Dr Aleksandra Rachitskaya of the Cleveland Clinic Cole Eye Institute recently talked about gene therapy in light of new information regarding retinal implants and stem cell therapy. A new technique called optogenetics making cells function as others may soon offer hope for curing blindness.

Internet of Medical Things (IoMT) is transforming healthcare by helping medical facilities monitor their technology, prevent errors, locate employees and patients, and keep track of other resources. We look forward to seeing more businesses begin implementing IoMT solutions like Microsoft’s Azure IoT that will greatly improve the health of individuals worldwide.

The below image shows the healthcare and medical services in hospitals as a practice. The image shows a patient with diabetes have an ID card that is scanned and links to a secure cloud under which his or her electronic health record including vitals and lab results, medical and prescription histories are saved. A physician or nurse can access this record easily on a tablet or a computer to keep track of it efficiently whenever required.

All tech giants and smaller companies are getting involved in the booming virtual and physical healthcare sector. Amazon Alexa and Apple Siri are paving the way for a revolution when it comes to technology in medicine. To help you keep up with all the innovations in this sector, there are health research kits that use technology in medicine, medical discoveries, wondrous inventions which helps investors see what is coming down the pipeline so they can invest accordingly in health innovation stocks.

The healthcare industry is moving at lightning speeds when it comes to how technology is changing its business practices. Mobile health and mobile internet technologies, in addition to global population growth and increasing membership of the middle class worldwide, is causing a rise in the demand for healthcare app developers and healthcare software development companies. The growing demand for all things medical has taken off in recent years.

Innovations That Will Change Healthcare In 2022

When planning your next app development project make sure you choose the most effective approach to saving time, meet your budget, and get a flawless product. 

Test-driven development or TDD is an approach for React development that has proven its worth with countless happy customers over the years including multinationals like Volkswagen, Mastercard, Lenovo, etc. The question on everyone's mind is - are the benefits of applying TDD worth the time and money? What are the best tools to set up test-driven development on my project? And that's exactly what our study aims to answer.

Test-driven development is a type of software development that focuses on product quality and aims to reduce the cost of changing produced software systems by writing tests first and committing early and often — as opposed to writing code first and then seeing if it passes the standardized unit tests. 

The easiest way to explain how Test-Driven Development works is to imagine a three-step process: Red, Green and Refactoring.

Red: The first step starts with developers describing the work scenario in a test. Then they create the objects required so the code compiles, run the test, and see a red bar because the test fails.  

Green: Now developers need to write code that can pass the test. This code doesn’t have to be perfect. The only criterion is its ability to pass the test.

Refactor: Once the code passes the test, developers can refactor it. After refactoring, developers run the test one more time to make sure they didn’t break anything during refactoring.

Benefits of test-driven development for React apps

Test-driven development can be a new approach for some teams, but it comes with many benefits. Let’s take a look at what these are.

Recently, developers have started to test their code before it is written. ​Without any coding taking place, the main ethos of the testing process is to ​identify gaps in existing code and suggest ways of improving upon them. The ​software then ensures that all concerns are properly addressed. 

Another advantage of this method is that when developers start creating new code, they can easily spot what might be missing or otherwise out-of-order. Making sure everything aligns atop an already well-architected platform will result in higher quality software overall.

When it comes to React app development, using the Test-driven development method helps to reduce costs by influencing the following: 

Scope of work. One of the most common reasons for a constantly growing scope of work is a lack of proper documentation. It’s hard for programmers to estimate how much time a certain feature will take to complete when they don’t have all the requirements, which typically results in buggy software and a lot of back-and-forths. TDD solves this problem because it ensures that there are no gaps in functionality due to rapidly growing codebases (also known as technical debt ). This allowed engineers to handle features more independently and better understand the actual scale of what is being worked on at any given time.

Quality of code. High-quality code not only works seamlessly and leads to a bug-free app or product. It also saves money on code support and maintenance. If your app has 100% coverage, you can easily add new functionality without breaking things.

There is no amount of rework that can be done to correct a problem without knowing what's wrong. When using a common linear workflow, code can be written before all the requirements are made clear. When following TDD, each team member will have to clarify all technical and business requirements to create tests so everyone involved knows exactly what they're building, avoiding any misunderstandings or unnecessary corrective work after the fact.

Test-driven development promotes good coding principles such as Don’t Repeat Yourself (DRY), Keep It Simple, Stupid! (KISS), You Ain’t Gonna Need It (YAGNI), and many others. 

These principles encourage developers to write clean, well-organized, and easy to read code. By creating easily manageable code it will only take the programmer less time to debug and fix things if there's an error or if he wants to change something up. 

Additionally, high-quality code is easy to work on even if you change your development team or new specialists join the project.

Tests that developers write on paper before they start coding their applications — and the detailed documentation — can be used as a very clear and concise explanation of exactly how their code works and what it does. Documentation is particularly important for the success of your project in the following cases:

Migrating to new technologies. You may decide to migrate your product to another technology stack when you need newer, more powerful libraries, frameworks, or languages. When migrating to new technologies, developers use documentation to make sure they clearly understand how the code works.

Replacing a contractor. Sometimes it becomes necessary to replace a software development company working on your project. The new contractor needs to have full access to documentation so that they can get up to speed quickly and smoothly!

Product Development. The reason why a lot of entrepreneurs start their products with a minimum viable product (an MVP) is that it allows them to test their business idea and then modify it to meet their customers' needs. Documentation lets the maker add functionality and modify the system without spending too much time getting familiar with it, which can sometimes be a challenge for a developer.

Unit tests need to be modular and should not depend on one another. This means that time can be saved because you won't have to wait for the processing of other tests to start working on a new test. A lot of people think about writing unit tests first for this reason: It helps them plan out their code as they will know before even starting what exactly the function or method is about and how it should work.

Drawbacks of test-driven development for React apps 

Despite all the powerful benefits we’ve described, following this approach comes with drawbacks that might persuade you not to incorporate it into every aspect of your application. We’ll list them out so that you can understand why they are there in the first place and how they may be resolved to allow us to fully reap TDD's many rewards.

Instead of writing code immediately, developers following the TDD approach first think through the code architecture. They then create tests, and only after that start writing code that meets those expectations. As a result, you end up with code later than when you follow a traditional approach. However, the code you do get is far cleaner, does exactly what it’s supposed to, and has significantly fewer bugs – both now and in the future – as a result of future changes. 

In the long term, the TDD development approach saves you time and money on maintenance, support and further development.

Doesn't help with projects that lack sufficient preparation 

Test-driven development is pretty useful, but it isn't always the most efficient way to develop a product. Making developers create unit tests before they write code can be difficult and time-consuming. That's because before writing the tests, developers (whether you do it yourself or hire people) need to know what features are required for your project so that they will be able to create the tests accordingly. 

This means that before moving forward with test-driven development you have to first collect all of your business requirements so that your team can have them readily available when needed.

There are a lot of tests that go into a product. For every change that is made, it is necessary to update the tests as well. If a developer wanted to change code but had their code checked with a test harness before making the change, they would have to alter both the code and the protocol which gets submitted as part of the latest test set submitted as part of weekly.

Young development teams may face challenges when diving headfirst into unit testing. Unit testing is a time-consuming practice when you have to design tests for code that doesn't even exist yet. Not to mention that inexperienced developers sometimes don't see the importance of rigorous test writing and refuse to follow up with it. 

However, more experienced companies are aware of the benefits of unit testing and practice it daily.

All these shortcomings that we have described above aren’t so difficult to overcome. Besides, the outcome is worth it. If you agree, we recommend you take a look at the tools we use to implement test-driven development on reacting projects.

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