Santander and UBS Discuss Blockchain at Bank of England Event
Swiss investment bank UBS and Spanish megabank Santander discussed blockchain technology at the Bank of England's Open Forum conference in London today. Jose Maria Fuster, global head of innovation at Santander, commented on the potential of the blockchain to overhaul the financial industry during a panel discussion which aimed to decipher how financial innovation and technology could support the economy. Fuster said: "Blockchain technology is very much related with the bitcoin concept ... this technology is allowing us to create a completely new space of infrastructure to transfer money,....
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Spanish megabank Santander has been experimenting with blockchain technology. Its head of research and development will discuss applications of the technology at Consensus 2015. Twenty billion dollars a year - that's how much banks could save on cross-border payments, compliance and securities trading if they used blockchain tech to move money and assets around the world, according to a report co-written by Spanish megabank Santander published last month. Julio Faura is one of the Santander executives playing a crucial role in making that massive cost-saving a reality. He commissioned a....
Banco Santander UK has made available to its staff a mobile application which uses Blockchain to transfer money. In the battle among bankers to implement blockchain solutions to cut costs, has Banco Santander taken the lead? Ed Metzger, head of innovation technology and operations at Santander U.K., says to Bloomberg: “It’s the first time a U.K. bank has sent payments of this type via Ripple and launched it as a commercial service. Many people are doing lab style experiments, the key difference here is about getting real people to send real money for real purposes. I just paid my wife, who....
Two researchers from Spanish financial group Banco Santander S.A. have released a report concerning the benefits of Bitcoin versus credit cards and traditional bank services. The 10-page paper details the increasing risk for traditional financial management as cryptocurrency solutions become more popular. Banco Santander & the Mercado Bitcoin....
After releasing a paper covering 20 to 25 uses of blockchain technology, Santander is reportedly ready to invest in a cryptocurrency startup to sustain their initiatives. Santander is the tenth largest bank in the world, according to a list by Forbes. The bank has come up with Santander InnoVentures, which is the banking giant's $100 million fintech investment fund. This was launched last year and has made three investments so far. Blockchain Technology Startups. "We're very excited about distributed ledgers and blockchain technology. They really have the potential to disrupt many of the....
During their introduction at this week's Distributed Ledger Challenge in New York, Santander InnoVentures managing partner Mariano Belinky and Banco Santander R&D chief Julio Faura spoke at length about the bank's interest in the blockchain and how it believes the technology can significantly reshape how it does business. "It’s something we really believe is going to change the world," Faura said at the time. Held this Wednesday, the event saw five startups pitch their businesses to a panel that included both Santander officials as well as representatives from the bitcoin and blockchain....