Banks Need ‘Hybrid Approach to Blockchain Technology’: Ripple’s Marcus Treacher

Banks Need ‘Hybrid Approach to Blockchain Technology’: Ripple’s Marcus Treacher

Ripple, which touts itself as the “Global Settlement Network” and has been involved with various banks to move money around the world, has its own ideas about how Blockchain can and can’t help the banking sector. Blockchain has been touted as the be all and end all solution for most if not all of the world’s problems. We have seen the application of Blockchain for everything from gift giving to releasing music. On the face of it, Blockchain appears to be the best possible solution for banking. Bitcoin has already demonstrated that it is possible to move money across the world quickly,....


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Ripple Hires SWIFT Board Member to Take Over Global Accounts

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Ripple Hires Former SWIFT Board Member & Banking Executive

Distributed financial settlement solutions provider Ripple has announced the hire of Marcus Treacher, a veteran in transaction and payment systems banking. Treacher is a former executive at HSBC and member of the Global Board at SWIFT. In a press release, Ripple has announced a new hire in Marcus Treacher, as its new global head of strategic accounts. Treacher is an industry veteran with over 30 years of experience in payment systems and transaction banking. A former executive with a global leadership role at UK-based global bank HSBC for 12 years,Treacher also served as member of the....

Bitcoin and Banks? Things to Come.

As we pointed out in our previous interviews with a lot of highly educated and important people inside the financial sector, the banks are looking at Bitcoin and its technology. Recently some banks have come forward into admitting that they are “looking into Bitcoin and the blockchain technology”. Among these banks are 3 Dutch banks: Rabo Bank, ING and ABN Amro. It is true that the Dutch government and financial oversight commissions have urged caution with the whole digital currency. Nevertheless our predictions from last year have rung true. We said in many articles that the banks,....

Global Banks Partner to Form Blockchain Payments Network

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PayPal President David Marcus: Bitcoin, Not NFC, is the Future of Payments

PayPal is often seen as an enemy to the bitcoin ecosystem. But the man heading the company, David Marcus, seemingly has some high hopes for bitcoin's future. Speaking at LeWeb in Paris on Tuesday, Marcus suggested that bitcoin has a better chance of catching on in the future than a technology like NFC (near-field communications). "Instead swiping or using a PIN pad, they're tapping. How is that really better? How is that changing your life? People don't want that," said Marcus. Instead, what they're looking for are easier and more convenient ways to make payments. But don't let Marcus's....

Quotes

The Bitcoin protocol has immense intrinsic value as a self-regulating frictionless payment network affordable to almost anyone. Here is a technology that allows anyone to send any amount of money to anyone else in the world at virtually no cost with nothing more than an Internet connection or smart phone. Bitcoin, like the Internet, is one of those innovations that can break down barriers; information barriers in the case of the Internet, and financial barriers with Bitcoin.

Dan Roseman, Financial Professional