2017 or 2025? Securities Firms Debate Timeline for Industry-Grade Blockchain
A professional forum hosted by an international securities trade group in Boston earlier this week showcased how that industry is looking at potential blockchain applications – and what form those potential use cases might take in the years ahead. The International Securities Association For Institutional Trade Communication (ISITC) event, held yesterday, featured a number of panels that offered details on how the securities trade ecosystem is reacting to interest in distributed ledgers as well as the broader FinTech movement. The day of panels kicked off with a keynote address by Wall....
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A new Morgan Stanley report aimed at assessing whether blockchain is a threat to big banks agues that the short-term benefits of the technology are likely minimal, but that future growth is likely. Published yesterday, the report features a timeline of when Morgan Stanley predicts certain blockchain milestones will be reached. Culminating in 2025, Morgan Stanley identifies 10 roadblocks to banks integrating blockchain. However, the report includes language that suggests the global investment bank may be seeking to understand how blockchain tech may impact its portfolio or perhaps its own....
A new survey by the International Securities Association for Institutional Trade Communication (ISITC) has revealed that the current buzz around blockchain is driving a focus on technological investment within the financial sector. ISITC is an industry trade group focused on standards and efficiencies in securities transaction processing. It boasts hundreds of member companies from across the globe, including major institutions such as BNY Mellon, Citibank, JPMorgan and more. In its annual survey, which polled 45 member firms from a variety of areas within financial services, the....
The poll recently held among its members by the European Payments Council shows that 90% of them believe Blockchain will change the payment industry by 2025. The EPC represents payment service providers (PSPs) in Europe and promotes European payments integration and development, notably the Single Euro Payments Area (SEPA). The Council says it was curious to know what professionals working in the payments industry truly think when it comes to Blockchain as the ongoing debate about its potential impact is hard to miss. Hence, a question was posed to all interested stakeholders: “How may....
Banks and financial firms are planning to release commercial-grade blockchain services within the next two years, two surveys published today by IBM show. In total, 200 banks and financial markets operators, respectively, were surveyed about the current status of their work with the technology, and 15% of banks interviewed indicated that they see commercial-scale services coming online sometime before the end of 2017. Of the financial markets operators asked the same question, 14% suggested that they would have their own services online by that date. "In effect, 2017 looks to be the....
The U.S. Securities and Exchange Commission (SEC) says it has revoked the registered securities of Long Blockchain Corp (LBCC) after the company failed to file annual reports since Dec. 31, 2017. In addition, the SEC says LBCC, which made the switch from soft drink production to activities related to blockchain technology in December 2017, is also “delinquent in filing quarterly reports.” Non-Existent Blockchain Business In a document that reveals the proceedings against LBCC, the SEC, which cites the Securities Exchange Act of 1934, says its decision (to revoke securities) is....