Based on the Effect of Emerging Technology on the Economy of Brazil, provide an executive summary (350-500 words) to recommend how the emerging technology could solve a problem in your country. Provide research and evidence that supports your summary. Use the following format: Introduction Effect of Emerging Technology on the Economy of Brazil

Economic development and growth are the primary goals of every government. Fintech, often referred to as fintech, is an emerging technology that is critical to economic development. The term is used to describe software that provides financial services to businesses and individuals (Arjunwadkar, 2020). Currently, fintech encompasses the entire spectrum of the financial industry, from banking and insurance to lending and investing. Examples of fintech projects are peer-to-peer lending projects, which are websites that allow people to get loans from others. Fintech also offers crowdfunding programs with websites, allowing individuals to raise money from ordinary people instead of venture capitalists or banks. My suggestion is that start-ups and small businesses should be encouraged to raise capital for themselves through fintech projects. More investment is needed to ensure that there are many fintech companies available in Brazil.

Obtaining the loan financing needed to start a business has been a challenge for many start-ups and companies. The suffocation of new start-ups and companies has led to rising unemployment in the Brazilian economy. Currently. The unemployment rate is 14.7% (Wewege & Thomsett, 2020). Unemployment hurts the economy. First, it reduces people’s disposable income so they cannot contribute to the economy by buying goods and services. It also means less disposable income

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