How Bitcoin Can Transform Art

Who really understands what a blockchain is? Could you explain it to your mother? Chain CEO Adam Ludwin got down to fundamentals yesterday, as he explained his company’s intention to transform financial services by digitizing already-existing assets. Ludwin spoke on a Tuesday afternoon panel with at the Money 20/20 Conference in Las Vegas. Blockchains Transform Finance From the Bottom Up. Assets including U.S. dollars and Starbucks points could move on blockchains with greater efficiency and security, he said. “A blockchain is actually a new type of database,” he said, adding that it’s a....

Greg Medcraft, Chairman, Australian Securities and Investments Commission (ASIC) in a speech at Carnegie Mellon University underlined the importance of blockchain and how they can transform the capital market. In the speech, he cited four main points that he said, proved that blockchain has the capacity to help transform the capital market. Continuing in the same vein, the Chairman said that blockchain stands for efficiency and speed and has in it the potential to automate the financial system which will cut down the time duration that is needed for transactions. Secondly, he mentioned....

Decentralized finance (DeFi) has taken the blockchain network by a storm and is now arguably the most discussed topic. Although it has been a roller coaster ride, the DeFi network has grown enormously in size and number. Today, the total value locked in DeFi contracts is more than $11b. Forex Market Alone is More Than $6 Trillion DeFi’s growth and hype can be attributed to several reasons, mostly bordering around profitability and ease. Essentially, DeFi or open finance allows users to utilize traditional banking services like credit systems, saving, investing in a peer-to-peer....

To use radical new technology effectively, you have to be radical – otherwise, all you end up with is a retro-fitted version of the present system. The benefits of the new technology are watered down or overwhelmed by the need to maintain the practices associated with the old system – many of which only exist precisely because of its inefficiencies. The new technology can even seem less efficient than the old one, simply because it isn't designed for use with processes from the past. Blockchain and distributed ledger technology are radical. Together, they could transform the way finance....

Blockchain technology could potentially transform payments, says a new report by American multinational banking corporation BNY Mellon. Although the report - titled "Innovation in Payments: The Future is FinTech" - notes that bitcoin may not survive in the long-term, the blockchain, it says, could help to reduce risk, transaction costs and improve speed, efficiency and transparency in the realm of payments. The report goes on to assert that this process does not come without a set of challenges: "Indeed, blockchain technology presents a number of challenges that have yet to be resolved,....