Is Blockchain the Future of Fin-Tech?

  • Here are a few reasons why the Blockchain technology could really be the future of Financial Technology (FinTech): – – Part of the reason why the Blockchain technology is considered innovative is its ability to completely diminish the need for a central management system or a central authority.
  • However, more and more companies and institutions are realizing the true potentials of the Blockchain technology, which goes beyond the application of currencies.
  • Many Blockchain projects are helping people around the world to easily utilize and integrate the Blockchain technology into their existing financial data-keeping and data-recording systems.
  • Financial applications such as Bitcoin on the Blockchain technology simply diminishes the need for a physical bank around to open a bank account and send or receive money.
  • Although it is true that the technology is still in its early beta stages with limited use cases within the Cryptocurrency industry, many projects are being introduced to help expand the use of this innovative technology.

The ever-increasing popularity of Cryptocurrencies has also helped shed light on what is known as the Blockchain technology. It is what helps decentraliz…
Continue reading “Is Blockchain the Future of Fin-Tech?”

Is Blockchain the Future of Fin-Tech?

Proof Suite might no longer be as much of a secret.  @HuffPost

  • Here are a few reasons why the Blockchain technology could really be the future of Financial Technology (FinTech): – – Part of the reason why the Blockchain technology is considered innovative is its ability to completely diminish the need for a central management system or a central authority.
  • However, more and more companies and institutions are realizing the true potentials of the Blockchain technology, which goes beyond the application of currencies.
  • Many Blockchain projects are helping people around the world to easily utilize and integrate the Blockchain technology into their existing financial data-keeping and data-recording systems.
  • Financial applications such as Bitcoin on the Blockchain technology simply diminishes the need for a physical bank around to open a bank account and send or receive money.
  • Although it is true that the technology is still in its early beta stages with limited use cases within the Cryptocurrency industry, many projects are being introduced to help expand the use of this innovative technology.

The ever-increasing popularity of Cryptocurrencies has also helped shed light on what is known as the Blockchain technology. It is what helps decentraliz…
Continue reading “Is Blockchain the Future of Fin-Tech?”

Bitcoin: Mexico readies bill to regulate fast-growing fintech industry

  • Mexico would regulate its fast-growing financial technology sector, including firms that use crypto-currencies like bitcoin, to protect consumers and spur competition, under a proposed bill seen by Reuters.
  • The proposed legislation, which Mexican President Enrique Pena Nieto said this month would be unveiled in the Senate before Sept. 20, seeks to ensure financial stability and defend against money laundering and financing of extremists.
  • The new measures will allow Mexico to join a small list of countries, including the United States and Britain, that have sought to regulate fintech firms.
  • Financial services firms envisage massive potential growth in Latin America’s No. 2 economy by reaching the more than 50 percent of Mexico’s roughly 120 million citizens without bank accounts.
  • “This (legislation) recognizes the need that a sector as dynamic as that of technological innovation needs a regulatory framework that allows authorities to mitigate risks and allow for growth in a competitive environment,” the bill draft says.

Mexico would regulate its fast-growing financial technology sector, including firms that use crypto-currencies like bitcoin, to protect consumers and spur competition, under a proposed bill seen by Reuters.
Continue reading “Bitcoin: Mexico readies bill to regulate fast-growing fintech industry”

Bitcoin Options Exchange Raises $11.4 Million in Funding

#bitcoin Options Exchange Raises $11.4 Million in Funding

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Ledger Holdings, the New York-based parent company of bitcoin options exchange LedgerX, said on Monday it closed $11.4 million in funding led by Miami International Holdings Inc and China’s Huiyin Blockchain Venture Investments.
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BBC Radio 4

  • Does the accelerating pace of technology change the way we think about the future?
  • It’s said that science fiction writers now spend more time telling stories about today than about tomorrow, because the potential of existing technology to change our world is so rich that there is no need to imagine the future – it’s already here.
  • Does this mean the future is dead?
  • Or that we are experiencing a profound shift in our understanding of what the future means to us, how it arrives, and what forces will shape it?
  • Presenters Timandra Harkness and Leo Johnson explore how our evolving understanding of time and the potential of technological change are transforming the way we think about the future.

How does the accelerating pace of technology change the way we think about the future?
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This year 525 banks will shut: will yours disappear?

This year 525 banks will shut: will yours disappear?  Maybe try #bitcoin?

  • High-street banks have announced more than 461 branches will close this year as customers move to online and telephone banking.
  • The need to visit branches is reducing further as technology develops – just this week customers were told they could clear a cheque in just 24 hours by taking a photo on their smartphone or iPad.
  • Andrew Hagger, from Moneycomms, the personal finance site said: “As customers can do most banking without the need for a branch, it’s no wonder the banks are closing.
  • “The group of customers requiring face-to-face services is also getting smaller and the banks will know which of their sites are unprofitable.
  • The banking group said its decision to shut 30 RBS and 128 NatWest branches came after a “dramatic shift” in its customers’ banking habits.

High-street banks have announced more than 461 branches will close this year as customers move to online and telephone banking.
Continue reading “This year 525 banks will shut: will yours disappear?”

Major banks trade cotton using blockchain in a move that could transform a major industry

  • Earlier this year, Barclays trialed the use of smart contracts to trade derivatives , while a number of other major lenders have tested the use of blockchain technology to carry out cross-border payments .
  • Blockchain works like a huge, decentralized ledger for the digital currency bitcoin, recording every transaction and storing this information on a global network so it cannot be tampered with.
  • Wells Fargo and the Commonwealth Bank of Australia (CBA) have used blockchain – the technology that drives bitcoin – to process and execute a shipment of cotton from the U.S. to China, in a move that could provide a big breakthrough for the future of international trade.
  • Major banks trade cotton using blockchain in a move that could transform a major industry
  • Blockchain and so-called “smart contracts” can remove the need for all of this.

Wells Fargo and the Commonwealth Bank of Australia (CBA) have used blockchain – the technology that drives bitcoin – to process and execute a shipment of cotton from the U.S. to China, in a move that could provide a big breakthrough for the future of international trade.

Continue reading “Major banks trade cotton using blockchain in a move that could transform a major industry”