The Australian bank Westpac had showcased its technology centre at Kogarah in Sydney last week. The local Financial Review (AFR) reported that the financial-service provider continues to promote blockchain technology. Not only does the legacy institution believe in distributed ledgers they are also pretty fascinated with artificial intelligence helping the process. Also read: AirTM Currency Conversion Success Hinges on Bitcoin Integration Westpac’s Kogarah Technology Centre The first thing the corporate firm gave insight to during the
Tokken (pronounced Token, or Tokin’) is a new Bitcoin company that is targeting the marijuana industry’s inability to get bank accounts. Tokken was founded by Lamine Zarrad, a veteran of the financial regulation industry. Namely, Zarrad has worked for the Office of the Comptroller of the Currency (OCC), which regulates and supervises the country’s thousands of banks and savings associations. With the recent promises that the Department of Justice will finally leave legal marijuana companies
JP Morgan CEO Jamie Dimon is back in the Satoshi spotlight. Speaking during an appearance on CNBC’s coverage of the World Economic Forum meetings in Davos last month, Mr. Dimon once again pronounced his lack of faith in Bitcoin. Also read: Supreme Court Justice Antonin Scalia Deat at age 79 Jamie Dimon: Bitcoin Going Nowhere “Bitcoin the currency, I think, is going to go nowhere,” Dimon said, “And it’s not because of anything to do
Virtual reality is an artificial environment that is created with software and presented to the user in such a way that makes it look as a real environment. The virtual reality industry is expanding faster than ever as new investments are being made to support future VR-based applications.
Bitcoin is gaining global recognition for being a very disruptive force in the financial industry. Though the community is currently divided by the block size issue, the technology carries on and with it comes the ongoing opportunity to spawn innovation, create new applications for blockchain technology, and start new businesses. Entrepreneurs have been taking advantage of Bitcoin to develop new platforms and businesses that expand the utility of the blockchain and empower people with additional financial power.
FinTech is an interesting market to keep an eye on these days, even though there is still a lot of education and guiding that needs to take place in the years to come. Tackling the financial sector head-on is not an easy feat, and the process is underestimated by a lot of aspiring entrepreneurs. At the same time, a new report shows that European startups are doing fairly well in this market, which is good
The Netherlands is often seen as a region where regulators are doing their best to keep up with financial innovation. IN the Bitcoin world, this has lead to a healthy startup ecosystem in the country, with clearly defined taxation rules. But a new report from Holland FinTech touches upon several barriers that are preventing future growth in The Netherlands, which include regulation and collaboration with financial players. Also read: DASH Block Size Increase Reaches Consensus
Financial services firm Fidelity Investments has dropped two of its long time partners during a process to integrate financial services that provide direct competition to bitcoin. Also read: More Signs of Trouble in Asia: Barclays to Cut Investment Banking Jobs Fidelity Moves into the FinTech Age With New Partnership Fidelity is ending its partnership with credit card company American Express and the Bank of America Corporation, “a 12-year partnership that has generated billions of dollars in fees,”
Samsung is planning to expand its mobile payment service, Samsung Pay, into the US online shopping market. Additionally, Samsung will allow more smartphones to support the payment wallet, offering it to cheaper Samsung devices “within the next year,” according to Samsung Pay global co-general manager Thomas Ko. Also read: Apple Pay Statistics Are Far From Promising — Bitcoin a Global Alternative Samsung Pay has grown much faster than rival Apple Pay and Android Pay since
Bringing the concept of borderless banking to mainstream consumers sounds like a proper use case for blockchain technology. But at the same time, a German FinTech startup is looking to provide exactly that service without using the blockchain. Number26 has quite the ambitious plan, although their service recently expanded to six additional European countries. Also read: Is Gemini Making Enemies Already? Borderless Banking in Europe As one would come to expect from a FinTech startup
The banking giant State Street Financial is continuing to move forward with its Bitcoin and blockchain studies by starting a new R&D facility concentrating on emerging FinTech. The University College Cork(UCC) and Zhejiang University (ZJU) are partnering with guidance from State Street to conduct research for their investors and clientele. As many institutions start R&D’s all across the globe, Susan Dargan, State Street’s global services offshore business director, told press: “It’s a natural extension of
The Bank of Canada may be starting an initiative that will look into changing their monetary policies. The central bank’s second in command Carolyn Wilkins had some encouraging words to say about Bitcoin. It’s possible they are tired of the results of quantitative easing and manipulated interest rates so they have begun looking into alternative tools that may stave off the financial crisis and a stagnate economy ahead. Also read: Bitcoin in Business: Smart Contracts
The Bitcoin Investor conference has started at the premier Bitcoin accepting hotel in downtown Las Vegas – The D – following a strong presence for the bleeding edge technology at fintech conference Money 20/20. Just years ago, not even Satoshi Nakamoto or Nick Szabo (the creator of smart contracts), would have imagined that things would be moving forward on such a fast time scale.The event will run through October 29th and 30th and will feature
Technology is evolving at an accelerated pace, and the opportunities for improving nearly all aspects of everyday life are endless. So many different parts of society can be improved upon by embracing these technological innovations, including the way we deal with resources. This concept in the FinTech space is called smart cities, and some interesting ideas are being tossed around. Also read: P2P Car Rental Service CarAmigo Reaches Taxation Agreement With Belgian Government The Concept of
A lot of people active in the world of Bitcoin, Fintech and blockchain business have almost no affinity left for banks and other traditional financial institutions. It has to be said, though, banks are facing a fair amount of challenges these days. Not only are there more competitors in the financial space than ever before, but internal changes are taking place as well, albeit at a slower pace than most people would like. Also read:
Understanding the concept of FinTech and its importance to the entire world is just the first step along the way. For businesses, innovations in the FinTech world will change the way they do business forever. From a consumer point of view, new and innovative payment methods are being introduced now and then, most of which still rely on traditional financial infrastructure. In fact, consumers might be the biggest benefactors of FinTech innovation. Also read: Understanding
Apple Pay has been touted as one of the most revolutionary mobile payment forms of the past 12 months. Despite a ton of marketing efforts, hype, and integration by thousands of merchants around the world, the platform has not been without flaws. In fact, most users are still not sure whether or not Apple Pay is a favorable option. Running out of phone battery makes the entire payment utterly useless. Also read: Understanding FinTech –
China is seemingly buying up a lot of Bitcoin and alternative currencies like gold right now. The devaluation of their currency has been slashed over the course of the past month. The country’s Foreign Exchange Commission has ordered financial institutions to increase its checks and balance controls for capital outflow. Currency wars in the region have led to a massive monetary dump as China’s Black Monday looms and looks to a very rough financial week. This
Fancy new terms such as “FinTech” are found all over mainstream and online media outlets these days. However, most people still have no idea what this term means, or why it is even such an important topic of conversation these days. Before we can explain the recent evolution of FinTech, we must first explain what this new hype is all about. Also read: New UK Cybercrime Report Makes No Mention of Bitcoin What is FinTech?
Technological innovation in the financial sector is much needed at this point, yet there are different obstacles along the way for achieving this goal. Peer-to-peer lending sounds great on paper, but there is one major issue with most of the platforms offering such a service right now. Any type of misconduct within the company will not only harm colleagues, but it can even lead to platforms being shut down altogether. TrustBuddy: A Brief Company History