Alternative Finance Takes the Fight To Traditional Banks
Banks find themselves in a very awkward position right now, as they are facing very stiff competition from various sectors and projects. Based on the findings of a recent UK bank study, there is a chance of losing close to 1 in 2 customers to alternative financial services. Even though the report does not mention Bitcoin specifically, the popular digital....
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Alternative financial solutions are gaining more popularity in recent months, as both consumers and investors are looking for ways to bypass traditional finance altogether. CME Group Foundation has announced they will make a financial contribution to the Cambridge Centre for Alternative Finance to spur future innovation in this sector. Both crowdfunding and peer-to-peer lending seem to be of great value to CME Group Foundation. CME Eyes Alternative Financial Solutions. Creating a wide variety of education initiatives in the financial sectors will be of great value to establishing....
Crypto to prevail over the traditional financial system, instead, competing industries started to adopt each other's technologies and cooperate. The year 2022 is here, and banks and the traditional banking system remain alive despite decades of threatening predictions made by crypto enthusiasts. The only endgame that happened— a new Ethereum 2.0 roadmap that Vitalik Buterin posted at the end of last year. Even though with this roadmap the crypto industry would change for the better, 2021 showed us that crypto didn't destroy or damage the central banks just like traditional banking didn't....
A close look at recent headlines reveals the current reality for the bitcoin industry - that despite the potential world-changing promise of its underlying technology, its businesses are still facing hurdles when attempting to bring their products and services to market. However, not all startups are taking the indecision of banks lightly. Lithuania-based bitcoin startup Bitmarket.lt is fighting back against its former bank, Swedish financial services giant Swedbank, after it shut down the company's accounts. Launched in late 2013, the dispute created headlines in Lithuania, and as of....
A number of Japanese banks are reportedly set to test domestic fund transfers using digital currencies over a blockchain as a low-cost alternative to traditional money transfers. According to a Thursday report by Nikkei, Japan’s most prominent financial publication, a handful of major Japanese banks will perform tests to determine if a digital currency powered blockchain platform could prove a viable alternative for the current national payments clearing platform ‘Zengin’. Operated by the Japanese Bankers Association, the Zengin System powers domestic money transfers in Japan. The....
Various banks and other financial institutions around the world have been looking into the concept of blockchain technology. While there are many advancements to be made in the financial world with this technology, the blockchain might not be implemented in a way most of the Bitcoin community would agree with. Bankchain, as this implementation is called,....