ItBit to Host Private Blockchain Summit for Wall Street Elite
New York-based bitcoin exchange itBit is set to host a private gathering of financial industry professionals on Monday, 27th July. The all-day, invite-only "Bankchain Discovery Summit" will be held at one of the city's Convene locations, a meeting space provider operating in both New York and Washington, DC. Expected attendees are said to draw largely from major banks, brokerages and exchanges. An invitation obtained by CoinDesk reads: "Join us for the inaugural itBit Bankchain Discovery Summit. Interact with industry peers, hear from our panel of experts and address topical blockchain use....
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ItBit has revealed new details about its formerly top-secret Bankchain project, a private consensus-based ledger system aimed at appealing to enterprise financial institutions. With the formal unveiling, the New York-based bitcoin exchange has joined the number of blockchain firms seeking to compete for the attention of banks that want to utilize the efficiencies of distributed databases without using bitcoin or its blockchain. In a new interview, Steve Wager, head of global operations for itBit, spoke at length about the project, rumors of which first began surfacing in late July.....
itBit disclosed further details on its Bankchain Project, citing that it will be based on the distributed ledger concept but will not use bitcoin. This project aims to create a private consensus-based ledger for applications to be used in the financial industry. More and more banks and financial institutions are looking into the potential usages of blockchain or the public ledger of bitcoin transactions in record-keeping or trade settlement. Some banks such as Westpac and ANZ in Australia are currently working with blockchain-related companies in order to explore this technology further.....
Wall Street has been keeping a close eye on the evolution of distributed ledger technology in recent years. The Wall Street Blockchain Alliance, launched in 2015, announced a certification program. The primary goal is attracting Distributed Ledger Technology developers. Education is an important aspect of blockchain technology. While the possibilities of....
Wall Street has been embracing the latest wave of Silicon Valley financial tech at a fast rate. Over the past several months, many Wall Street Financial companies have embraced the new wave fintech enterprises with remarkable speed. The blockchain an online ledger that tracks the movement of digital currency, but it can also be used to manage, register and secure anything else that has value. Wall Street companies seem to have seen the true potential of the blockchain technology and many are now rushing to invest and develop new applications with this new technology. Jamie Dimon, JP Morgan....
Now that BitLicense is set for implementation pretty soon, the debate is heating up in Wall Street on whether these bitcoin rules could make or break the industry. For some, the increased regulation could shore up more confidence in the feasibility of the bitcoin ecosystem while others think that compliance could prove too costly for most of the startups. For Steve Wager, head of global operations at digital currency startup itBit, their company takes more of a balanced view on stricter oversight. He noted that while the general reaction seems to be mostly negative, itBit is taking a....