BAFT: the Bitcoin and Blockchain Initiative
BAFT, the Global Financial Services Association, announced a new technological push on September 16. The group of Bankers, importers, exporters, brokers, providers and suppliers, and other investors have created the “Financial Technology and Innovation Initiative.” The initiative is the organization’s pursuit to educate investors and traders about....
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Global financial services association BAFT is set to drive bitcoin and blockchain awareness with the launch of its new FinTech scheme. The association, which deals with a wide range of topics affecting transaction banking, launched the initiative in an attempt to draw attention to the various innovative technologies that are currently transforming services such as cross-border payments and trade finance. Tod Burwell, BAFT president and CEO, said: "Emerging technologies such as blockchain technology, distributed ledgers and virtual currencies are redefining how supply chains operate and....
Global financial services association BAFT has launched a new scheme to promote Bitcoin and blockchain technology. The association, which deals in creation and implementation of global finance policies, launched the initiative to drive "awareness of innovations in financial technology". In its official statement, the international body emphasized how the pace of innovation has redefined the methods of cross-border payments and trade finance; and how it believes to address the regulatory issues for both banks and similar financial institutions through a thorough input. Tod Burwell, the....
An innovation effort launched earlier this year by a transaction banking trade group has set its sights squarely on blockchain technology. Announced in September 2015, the Bankers Association of Finance and Trade (BAFT) Innovation Council was originally tasked to develop educational resources for a wide range of tools applicable to transaction banking, including but not limited to blockchain. But after BAFT, a subsidiary of the American Bankers Association that is focused on cooperation among correspondent banks, hired two new people earlier this year to help manage the innovation effort,....
A new survey shows financial professionals are increasingly bullish on blockchain and distributed ledger tech, even as they profess to a lack of understanding of the subject matter. Conducted by think tank and distributed ledger specialist Z/Yen Group at the Bankers' Association for Finance and Trade (BAFT) Global Annual Meeting in Paris this January, the poll found that while 70% of respondents said the financial institution they work for is exploring the technology, 69% reported they don't believe they have a “good grasp” of how it works. Overall, 73% of respondents reported they had....
Red Hat, the world’s leading provider of open source solutions, recently introduced their OpenShift Blockchain Initiative in an attempt to bridge the gap between traditional finance and blockchain technology. OpenShift announced their Dedicated initiative at the end of 2015. The main purpose of this initiative was to combine Red Hat’s engineer and....