IT Giant Predicts Blockchain Will Transform Tech Sector in 2016
American multinational CA Technologies believes that the technology underpinning the cryptocurrency bitcoin will find its footing in 2016. In a blogpost titled Five Technology Predictions for 2016, Otto Berkes, the Chief Technology Officer (CTO) at CA Technologies, predicted a great year for the blockchain technology, saying that the innovative public ledger will “find a home outside of the Bitcoin transaction ledger.” He stressed that the technology could be further incorporated within the existing Internet-of-Things framework, believing it has has the potential to become a transformative....
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The UAE has been proactive in integrating blockchain into the existing governance ecosystem, and the private sector benefits from the spillover effect. It is no secret that the United Arab Emirates, along with Switzerland, Singapore and several other countries, is one of the most forward-looking tech nations in the world, with the Middle Eastern powerhouse promoting the use of blockchain in almost every sector imaginable, from energy to shipping to media.To help the country with its adoption efforts, the UAE government has launched two extensive, well-crafted initiatives — i.e., the....
The worldwide blockchain technology market is forecast to reach $7.74 billion by 2024, with the financial services sector accounting for the majority of the future market growth, predicts a new report. “Blockchain technology is one of the most promising upcoming technological trends in the information technology domain,” according to Grand View Research, a San Francisco-based market research and forecasting company which authored the report. The report predicts continued growth in the U.S. and Canadian markets (40.9 percent of the market). Meanwhile, China and India will see a compound....
BNP Paribas is choosing to begin its public experiments with blockchain tech by pursuing one of its less discussed use cases – crowdfunding. The French financial services giant intends to launch a private securities program built using blockchain tech. The effort, a partnership with SmartAngels, a firm that allows entrepreneurs to raise money from private and professional investors, even has ambitious attempts to go live by the second half of 2016. In interview, BNP Paribas product manager Johann Palychata said that crowdfunding was selected as one of the company’s first use cases due to....
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,....
Many participants at the Revolution Banking 2016 event in Spain were interested in the Blockchain technology, which resulted in a lively discussion during the event Where is the blockchain heading? Whether the distributed ledger technology really has the potential to solve the issues currently faced by the banking and financial sector? These were some of the topics discussed in the last month’s Revolution Banking 2016 summit, which happened in Madrid, Spain on the 10th of May 2016. Revolution Banking 2016 was an event focused on new technologies, innovations, and collaborations in the....