Survey: Fintech Isn't Forcing an 'Uber Moment' for Banks
An industry survey that covered 150 executives and investors in the banking sector has revealed that Fintech startups are only causing limited disruption to the industry rather than the dramatic, industry-defining shakeup of an ‘Uber Moment’. A new survey conducted by Autonomous Research has revealed that 14% of banks face a significant threat by Fintech innovations such as bitcoin’s blockchain and similar distributed ledger technologies. Other figures show 44% of 150 investors and banking industry executives believing ‘selected disruption’ in certain sectors while 41% are of the opinion....
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A survey conducted by professional services firm Accenture has revealed that nine out of 10 major U.S., Canadian and European banks are currently exploring blockchain technology in the field of payments. The survey, titled ‘Blockchain Technology: How banks are building a real-time global payment network’ [PDF] canvassed the opinions of 32 of the top commercial banking professionals in the banking industry. Notably, the transformational potential of blockchain technology in the payments space was under the spotlight. Executives participating in the survey included those from 11 of the top....
PricewaterhouseCoopers (PwC) has carried out the Nigeria FinTech Survey 2017, aimed at Nigerian financial services industry leaders. The aim of the survey was to find out trends related to the impact of Fintech on Nigeria’s financial services industry, opportunities offered by Fintech, threats to existing businesses and perspectives on the way forward for Fintech and financial services players. Among the respondents covered by the survey, 51 percent were in the banking industry, 29 percent in insurance, 10 percent in asset and investment management and 10 percent in funds transfer and....
Uber is still standing strong in Argentina, despite months of being denied credit and debit card service, in part thanks to Bitcoin. According to Franco Amati, co-founder of the Latin American Bitcoin Conference, Uber is still holding on despite resistance from government. Amati says: “Uber is fighting the blockade, sometimes Uber changes the place from where it is charging the payment, and local cards work again, but then the government blocks them again.” To fuel the use of cards that are not so easily shut down, Uber is incentivizing prepaid cards, according to Amati. He explains to....
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[UPDATE: It appears that Uber has suspended Bitcoin Builder's account and thus, the service is no longer operational.] US-based bitcoin exchange platform Bitcoin Builder has announced their release of a bitcoin service that enables users to pay with bitcoin for Uber rides. How it Works. Bitcoin Builder created a business account on the Uber network, which allows the firm to display itself as a payment method on the Uber mobile app. Users are required to use the Bitcoin Builder multi-sig wallet to associate it with the firm’s Uber business account. After the activation, users will see....
Can Blockchain break Facebook, Uber, Airbnb, eBay and the like? The answer we want to give for the currently discussed Blockchain interpretation is ‘so far, no’ – contrary to common opinion. The reason being is that for none of the Blockchain technology specifica is there is a clear path to attract users to the platform. They are just like banks. What is it that triggers the communities fantasy on disrupting data monopolists such as Facebook, Uber, Airbnb and ebay? Foremost, there is an obvious analogy to banks. There are two parties, who want to work together (send money, chat, have a....