Banking innovation depends on bitcoin
With one firm swoop, banks could eliminate the threat from Apple, Google, and PayPal by embracing the new bitcoin cryptocurrency. Disruption doesn't always come from the outside but revolutions do form at the periphery, which is precisely where bitcoin sits today. It's easy to talk about conventional financial services disruption such as digital banking and mobile payments, because we've seen the information age already disrupt entrenched industries. We know that banking in the future will be something you do - not some place you go - and aggressive fintech startups already provide the....
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On June 3, 2015, Vancouver, British Columbia, will host “Digital Finance 2015,” Canada’s first fintech and banking innovation conference, at the Vancouver Club on West Hastings in the city’s trendy West End.Digital Finance 2015 will feature two keynote speakers: Peter Vander Auwera, co-founder of Innotribe innovation will talk about Innovation in banking: from tactics to strategy. Sam Maule, emerging payments expert with Carlisle & Gallagher, and one of the top innovation influencers will talk about FinTech's Disruptive Force in Banking.
The CEO of Commonwealth Bank of Australia recently spoke about the importance of innovation in the banking industry and how Bitcoin technology may grow to disrupt the industry in the future. The evolution of Bitcoin technology from being just a ledger to the next big innovation in the fintech sector has waken up the finance giants. Banking majors like the Commonwealth Bank of Australia (ASX:CBA) have come to realize the importance of constant innovation, and how it may affect the long time survival of the institution. The banking sector has been dependent on legacy systems for too long.....
A new report, issued by the Massachusetts Institute of Technology (MIT), explores the potential of digital banking, including the possibility of a world without banks. MIT Report: Legacy Banks Stuck in a Malaise. The report, contentiously titled “Digital Banking Manifesto: The End of Banks?” was published in August and authored by Alex Lipton, David Shrier and Alex Pentland of MIT’s Connection Science Department. In it, the researchers look over the lack of innovation in the banking sector and how it compares to other industries, including retail, travel, communications, and mass media.....
The Truth about Bitcoin is... Well, it depends, you see. It depends on where you stand in relation to Bitcoin. If you're an orthodox central banker, the truth about Bitcoin is an erosion of power. To a politician, Bitcoin is a meme and a fad to be taken advantage of, and most importantly, it represents cheap and easy campaign donations - to hell, for now, with its revolutionary core. To journalists (those in the know, anyway), Bitcoin is the hot topic of our time. The journalistic truth about it is that Bitcoin generates story after story, day after day: crazy stories of mindblowing....
Bitcoin depends on a distributed ledger system known as the blockchain. The blockchain is possibly the most powerful innovation associated with Bitcoin, as countless industries from financial services to healthcare have begun contemplating how to leverage the technology for their own uses. So it’s ...