As year 2015 was dubbed as year of fintech, many financial technology startup companies gained huge investement. Global regulators are closely watching the fintech startup and will propose rules to regulate them.

In his E27 column, Philipp Kristian Diekhöner wrote how fintech has created a new financial system which define by a new order of trusted intermediaries. Those intermediaries are smarter, better, more versatile and more affordable than the ones in traditional financial system. He wrote, "Regardless of their functional focus, what these fintech startups really do is create a trusted intermediary for individuals to exchange some form of value - such as stocks, digital, fiat currency, etc."

In regard to blockchain, he called it as the smartest invention in financial startup. As paradoxically, the blockhain created a trusted intermediaries by doing away with trusted intermediaries. "Obviously, banks are extremely keen to wrap their heads around the technology, which may well evolve into the new operating system for finance in years to come."

He also predicted, "My point is that financial institutions will likely be dwarfed. If I were to make a prediction, we will soon see a fintech company possibly scratching the elusive trillion-dollar market cap that today remote even to the likes of Apple and Alphabet.'

As the fintech startups have gained more trust in the financial service, regulators have closely monitored to prevent these fintech companies destabilize the global financial system. The Financial Stability Board of G20 chairman Mark Carney said on Saturday in a letter to central bankers and finance ministers from the Group of 20 economies meeting in Shanghai. Mr. Carney proposed to form a task force to assess systemic implications of fintech innovations within this year.

The letter signaled the regulators on the global level are aware of fintech and tried to assess how they could change the global ecomomy. Regulators have begun to scrutinize fintech including blockchain technology, that its proponents said the technology would radically change payments systems.

Careful measure need to be taken as the sectors is still considered a very small one compared to banking, but it could drive innovation. "The regulatory framework must ensure that it is able to manage any systemic risks that may arise from technological change without stifling innovation," Carney told Fortune.

According to Reuters, Carney, who is also Governor of the Bank of England, said FSB will discuss its findings in March and consider its next steps. Meanwhile he also addressed economic and financial conditions weakening since the beginning of this year reflected weaker growth prospects.

Financial technology startup gained a huge attention in 2015. While its blockchain technology have been under scrutiny by global regulators to carefully examine its role in global financial system.