MasterCard Interested In Blockchain But Doesn't Want To Be "Blindsided"
MasterCard is looking to stay ahead of the curve by refusing to rush into integrating blockchain technology into their business model. Citing concerns regarding regulation, investment and security, MasterCard Chief Innovation Officer Garry Lyons stated why he didn’t want MasterCard to be “blindsided” by block chain in his comments at the World Economic Forum in Davos, Switzerland: “It’s not just the industry that’s excited about blockchain — it’s the world, everyone. Even at Davos, every single tech panel I have gone to mentions blockchain and some people call it ‘the second coming.’ But....
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It’s been referred to as a "revolutionary technology" by IBM, and a "once in a generation opportunity" by PricewaterhouseCoopers. But perhaps the most descriptive title came from The Economist when they dubbed blockchain "the trust machine". It is a breakthrough in computer science that holds the promise of reducing the cost of establishing and maintaining trust for both individuals and organizations. "Blockchain" is a relatively new term that refers to a specific type of computer database. The Oxford English Dictionary defines blockchain as "a....
You can add R Jesse McWaters, financial innovation lead at the World Economic Forum (WEF), to the growing chorus of industry voices warning that we’ve reached a "peak" when it comes to the hype surrounding blockchain technology. "I’m trepidatious about inflated expectations re: the blockchain," McWaters said in a new interview, the comments coming as he described the ongoing "awakening" he’s seen among major financial institutions in regards to the technology. While even the WEF itself has lauded blockchain as a global....
Chain Joins Industry-Academia Blockchain Initiative to Solve Interoperability and Scalability Issues
Chain Inc., a blockchain company specializing in enterprise software for financial firms, has joined the Initiative for Cryptocurrency and Contracts (IC3) to advance blockchain development for the financial services industry and "ensure cross-industry interoperability and harmonization." Chain has identified several specific projects on which the company will collaborate with IC3. These projects focus on blockchain scalability, privacy and interoperability, Chain CEO and Co-Founder Adam Ludwin told Bitcoin Magazine. IC3 currently works on 13 projects that are aimed at solving....
I'm not going to shock anyone by saying we're all living in the age of big data. Data analytics and data-driven decision-making is the gold standard in an ever-expanding range of domains. From running organizations to deciding on medical treatment to even dictating athletic training routines, data is established as central to more and more aspects of life. With the hope I haven't bored you too much by restating what most of us take for granted, I'd like to ask a naïve question – How do we know we can actually rely on all of this data? To clarify, I’m not at all questioning the use of data....
A new resolution submitted to the US House of Representatives calls for the development of "a national policy for technology" that would include digital currencies and blockchain technology. It invokes the idea of bitcoin without calling it by name – referring to "alternative non-fiat currencies" – and blockchain tech, which it says has the potential to "fundamentally change" how trust and security are established in online transactions. The non-binding resolution is sponsored by Rep Adam Kinzinger, a Republican from Indiana; and Representative Tony Cardenas,....