Financial technology is poised to grow over the long term due to the increasing world population and the movement of technology.

Fintech disrupts how consumers conduct traditional finance-related activities, and it allows consumers to deal with their finances easily and efficiently. Under the incoming Trump administration, publicly traded companies are likely to grow, and the market is already pricing this in.

Moreover, the fintech industry will also be booming, and one of the main drivers will be blockchain technology, which uses a distributed database that maintains a continuously growing list of ordered records called blocks.

Major U.S. stock market indices and exchange-traded funds tracking those indices hit all-time highs late last month.

In addition, the dollar is trading near levels that it hasn't seen in more than a decade because market participants think that President-elect Donald Trump will expand the economy, paving the way for the Federal Reserve to raise interest rates.

The banking, energy and health care sectors have been fueling the recent meteoric rise in the U.S. equity market. Because these companies are poised to generate earnings due to the potentially strong economy, they will be cash-flush and will need some projects in which to invest, such as blockchain technology.

Blockchain technology has been one of the most widely watched areas of the fintech industry.

In the first quarter, bitcoin and blockchain investments peaked at more than $150 million in 22 deals. Thereafter, there was a bit of a slowdown, with just $119 million and $87 million in investment activity in the second and third quarters, respectively.

However, as more companies look to use blockchain technology, investment activity should rebound next year.

One company, (OSTK) - Get Report is aiming to use blockchain technology for its own trading system. In October, Overstock announced a non-transferable rights offering and will give stockholders an opportunity to subscribe for shares of its Blockchain Series A Preferred, which is traded on an alternative-trading system.

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The maximum price per share of the Blockchain Voting Series A Preferred Stock or Series B Preferred is set at $15.68, according to the Securities and Exchange Commission.

The number of shares of Series A Preferred was set to 2 million. Consequently, this could raise close to $30 million for the company.

Meanwhile, Walmart (WMT) - Get Report is the world's largest publicly traded discount retailer, and it also plans to use blockchain technology to increase food safety. Many businesses in the food and produce industries struggle with identifying and removing products that have been recalled.

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However, in this case, if there was a recall on a specific product, Walmart would be able to track down key details about the product and remove it from its shelves. Finding this information could take days, but with blockchain technology, it would take only minutes.

Keep in mind that these are just two examples of companies implementing blockchain technology, but there are many others.

The Trump administration should be business-friendly, and therefore, many industries stand to benefit. This translates to potentially more companies using blockchain technology, improving efficiency.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.