Citi Report: Blockchain is Bigger than Bitcoin
Whenever a disruptive concept comes along, there are winners and losers. But things aren't so black-and-white with blockchain technology in the picture. A lot of people have been saying how the blockchain is much bigger than Bitcoin itself, and they are right for the most part. Even though the Bitcoin protocol is powered by blockchain technology, the capabilities of distributed ledgers are not just linked to the digital currency ecosystem. A recent report by Citi seems to be thinking along those same lines, although most of their use cases are still focused on the financial aspect. This....
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Citi GPS, an operation operated by multinational financial outfit Citi, has come out with a report that looks at the institutional environment, enabling infrastructure, solution provisioning and propensity to adopt digital money to measure the readiness for digital money in a number of countries. The report also quantified the benefits of digital currency adoption for businesses, individuals and governments. The countries that are the most
Citi first hinted at its blockchain ambitions 10 days ago when it revealed it had developed its own cryptocurrency following years of research in the space. The so-called 'Citicoin' project from the world's eighth largest bank is the latest sign that financial institutions are starting to take blockchain technology seriously. Expect to hear much more about Citi's plans for digital currencies and blockchain tech this September when key executives from the bank speak at Consensus 2015. "Blockchain technology not only has an opportunity to transform financial services but also extend far....
The United Kingdom, is often one of the friendlier places when it comes to Bitcoin legality, especially when compared to US regulation, such as the New York BitLicense. Citi, a global banking and financial corporation, recommended that the UK take its acceptance one step further with the creation of a UK cryptocurrency. In a document submitted by Citi to the British government, Citi noted the risks involved with digital currency. However, Citi also mentioned the untapped possibilities that digital currencies like Bitcoin can offer:
Multinational banking giant Citigroup has been looking at Bitcoin's distributed ledger technology for "the last few years" and has amassed a skilled team, Ken Moore, Head of Citi Innovation Labs told IBTimes UK during a tech briefing. Moreover, Citi has constructed three blockchains and a test currency called Citicoin to flow through them; a framework parallel to Bitcoin and the blockchain. Moore confirms that these blockchains and Citicoin are well confined within the group's innovation labs and there is no real money involved as of yet. Since the technology developed by Citi is based on....
Citi has predicted that the total market for the metaverse economy could grow to between $8 trillion and $13 trillion by 2030. In addition, the global bank expects that the number of metaverse users could be as many as five billion.
The Metaverse Is Potentially an $8 Trillion to $13 Trillion Opportunity, Says Citi
Citi released a new Global Perspectives & Solutions (Citi GPS) report titled “Metaverse and Money: Decrypting the Future” Thursday. The leading global bank has approximately 200 million customer accounts and does business in more than 160 countries....