Why Banks’ Best Bet is a Public Blockchain (With Bitcoin)
Asking for blockchain without bitcoin struck Marc Andreessen as wanting “online” without the Internet. Siddharth Kalla, the chief technology officer of Acupay, a technology provider in New York specializing in cross-border finance, believes Andreessen was astute when he tweeted this observation in December. Kalla, writing in American Banker, is the most recent financial observer to take issue with financial institutions trying to isolate blockchain from bitcoin. When the web began making waves in the mid-1990s, private companies began to create proprietary information-sharing networks like....
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August saw the first meeting of US credit unions looking to pioneer so-called distributed ledger technology (DLT) in CULedger, a “dedicated” version of the banks’ R3 Consortium. CULedger ‘Does What R3 Is Doing for Banks’. CULedger, which seeks to mimic R3 in order to allow organizations to benefit from blockchain technology, is currently fundraising....
Financial writer Frances Coppola gave a history and forecast of bitcoin and blockchain technology in an article on American Express. While she is uncertain about bitcoin’s long-term future, she believes blockchain technology will play an important role in international payments. Bitcoin/Blockchain Overview. Coppola begins the article explaining how bitcoin and the blockchain work and how bitcoins are created through mining. She noted that as the energy cost for mining bitcoin has increased, many are wondering if there could be more productive uses for the energy. Because bitcoin....
China sees its digital yuan as a "new battlefield," DeFi's Curve has a new dividend program and a yet-to-launch platform is pursuing an "Initial DEX Offering."
In glittery surroundings, next to the skyscrapers of London, the financial capital of the world, a packed room of blockchain enthusiasts heard from Edan Yago, CEO of Epiphyte, former employee at Zynga. We are preparing for a world where “95% of your customers are not human,” he says. The current financial system does not scale for machine to machine transactions, Yago argued, as they address it like a “liberal arts problem” leaving us with a “chain of corresponding banks” which are not interoperable. Visa, for example, does not communicate with mastercard, Yago says. Public blockchains....
Despite being the fifth largest economy in the world, the United Kingdom has a relatively small BTC/GBP trading volume ratio. Banks refusal to deal with Bitcoin companies is at the heart of the problem. BTC/GBP trading pair. At first glance, the BTC/GBP trading pair would seem to be doing very well - it’s the sixth largest trading pair, accounting for 0.21% of Bitcoin’s total trading volume, 2,636.83 BTC or US$1,178,280.73, surpassed only by the BTC/CNY, JPY, USD, EUR, and RUB trading pairs. However, given that, according to a report by CoinDesk, 32.99% of Bitcoin users are based in....