DBS Blockchain Hack for Creating Better Financial Services
Startupbootcamp Fintech, Singaporean arm of the London based Startupbootcamp Global Accelerator is organizing one of a kind hackathon/code fest. This hackathon's specialty is its focus on blockchain technology. At DBS Blockchain Hack, participants have to develop products related to banking and financial sector using blockchain technology. Blockchain technology is the soul of most of the cryptocurrencies out there. Without blockchain technology, there wouldn't be bitcoin, as blockchain is what keeps a note of all transactions happening over the bitcoin network. DBS Blockchain Hack is....
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Leading financial services giants, Nomura and Fidelity Investments, are showing a keen interest in the blockchain technology. The Nomura Research Institute made the official announcement that it will conduct a joint examination with Nomura Securities Co., Ltd., and other technology start-ups regarding the feasibility of implementing the blockchain technology. The Nomura Research Institute (NRI) is the largest consultancy and IT firm in Japan. The joint study is expected to be completed in January 2016. The official announcement reads, "The impetus behind creating this study emerged from....
To many people, it seems inevitable that the blockchain will be a part of global financial services in the years to come. With multiple financial players actively working on projects revolving around distributed ledger technology, it only seems to be a matter of time until both worlds come together. However, the progress of introducing blockchain technology in financial services will not happen overnight, and there is plenty of work to be done. The Many Advantages of Distributed Ledger Technology. There is no denying the blockchain can offer a multitude of benefits to established financial....
The South Korean exchange is bringing more services back online after suffering a major hack late last month.
More and more folks are starting to appreciate the blockchain protocol without necessarily associating it with bitcoin. Blockchain refers to the public ledger of bitcoin transactions, which is added by adding a block of code for each verified transaction. This verification process is done by several computers solving complex algorithms. Entries in the blockchain are considered immutable and irreversible, as it would take considerable effort to hack into computers that have completed the verification process to update the code. With that, one of the more practical applications of the....
The blockchain’s immutability, one of its greatest strengths, could also prove to be one if its greatest limitations, given the need to reverse certain activities in financial services, argues Richard Lumb, an Accenture executive, writing in The New York Times. Lumb noted the bitcoin blockchain’s immutable record clashes with evolving privacy laws, such as newly-proposed European Union laws. He also noted that new laws in the U.S. require personal financial data to be easily redacted. He says immutability is becoming a serious blockchain technology issue, one also raised by the recent....