Adoption of Crypto & Blockchain Goes Way Beyond Financial Markets
Analysts believe that a ‘wave of decentralization’ is approaching, thanks to exponential growth in blockchain adoption across the globe. Multiple sectors, particularly the financial ones, are converging to adapt the underlying technology behind cryptocurrency, aka ‘blockchain.’ Interestingly, the federal authorities are certain about blockchain adoption, but they are wary of crypto as an investment class. While digital assets have become a global phenomenon, they have received brutal scrutiny from global watchdogs. Regions such as China and the United States, including several....
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The wider adoption of blockchain technology by financial incumbents is likely to take place over four stages according to a new report by business management consultant firm McKinsey & Company. Entitled "Beyond the Hype: Blockchains in Capital Markets", the report states that blockchain technology will "dramatically reshape the capital markets industry", impacting business models, cost savings and capital requirements in the sector. McKinsey contends the adoption of blockchain technology will have significant near-term benefits, bringing faster clearing and settlement to the capital....
Crypto education could be key to promoting financial empowerment and increasing mass adoption across Latin America — if we do it right. In October 2021, it was estimated that approximately 15% of the world’s supply of Bitcoin (BTC) was in circulation in Latin America. According to a recent report released by Crypto Literacy, however, 99% of Brazilian and Mexican respondents failed a basic assessment on crypto literacy. Crypto adoption is well underway across the region — on the rise even — but, people still lack a basic understanding of its underlying technology and use cases. When this....
The majority of financial service executives believe blockchain technology will be hugely important to their industry over the next 10 years, according to a survey sponsored by Synechron, a global and technology consultancy based in New York, N.Y. The TABB Group conducted the survey on behalf of Synechron, and it included 92 banking and capital markets institutions. The survey queried executives directly involved with technology decisions about the potential of blockchain technology and artificial intelligence. More than 55% of respondents said that over the next 10 years, blockchain will....
Payments giant Visa and financial services provider Tala have partnered to boost cryptocurrency adoption in emerging markets. The collaboration aims to “make it easier for underbanked consumers to convert, store, and use cryptocurrencies.” Visa and Tala Boosting Crypto Adoption in Emerging Markets Visa and Tala have formed a new partnership “to help underbanked populations participate in the crypto economy,” Tala announced Wednesday. Tala is “a financial technology company on a mission to enable and accelerate financial health for all,” its website....
The Wall Street Blockchain Alliance Certification Framework (WCF) has announced it will use distributed ledger technology to authenticate certificate issuance and tamper-proof content for its fall/winter courses. The use of distributed ledger technology is consistent with the alliance’s goal of promoting the adoption of distributed ledger technology across financial markets. A Blockchain Brain Trust. The WCF serves as a core body of knowledge for the Wall Street Blockchain Alliance (WSBA) to plan, build and deliver on blockchain technology’s potential in the financial markets sector. This....