Banca IMI Researcher: Blockchain Won't Work if Banks Don't Change
The head of interest rate and credit models at Banca IMI, an investment banking and capital markets subsidiary of Intesa Sanpaolo, has penned a new paper on blockchain technology. Dedicated to spotlighting "real business cases" for the technology, Massimo Morini’s report argues that the lesson that should be learned from cryptocurrencies such as bitcoin is that traditional financial business model needs to be reformed, not just improved. Morini writes: "One crucial misunderstanding here is the idea that blockchain technology can be exported to financial markets....
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A new paper on blockchain technology has been released by the head of interest rate and credit models at Banca IMI, an investment banking and capital markets subsidiary of Intesa Sanpaolo. The paper highlights “real business cases” for the technology, arguing that financial services need to be reformed and not simply improved. There has been some misunderstanding at the root of the debate around digital currencies and finance: the idea that digital currencies are based on a new “technology” that can be applied to financial markets as they are. Massimo Morini, who penned the paper, “From....
Banca Generali, a subsidiary of Italy’s largest insurer, will also help its customers hold bitcoin following the $14 million Series B.
Banca Generali will introduce crypto to its customers in 2021 following a partnership with an Italian custody service provider. Major Italian private bank, Banca Generali, is planning to introduce cryptocurrency services in 2021. According to a Dec. 15 announcement, Banca Generali has entered a corporate and commercial partnership with Conio — a fintech company providing traditional financial institutions with solutions for managing digital assets including wallets and custody.A spokesperson for Banca Generali told Cointelegraph that the bank does not plan to launch a cryptocurrency....
The economic conditions in Italy and Greece may lead to increased demand for Bitcoin among investors and individuals. The banking system in Italy continues to wade through troubled waters. With no improvements in sight, the government of Italy is considering a bailout package for two major banks, Veneto Banca and Banca Popolare di Vicenza. The package worth 5 billion euros is still awaiting necessary regulatory approvals. The weakening banking sector will be receiving the aid in the form of “precautionary recapitalization” as part of the Eurozone regulations. Apart from the presently....
Banca d’Italia and Deutsche Bundesbank shared experiences on distributed ledger technology-based settlements in a workshop. European central banks ramp up their efforts to utilize distributed ledger technology (DLT), the foundation of blockchain, in central bank money settlements.Banca d’Italia and Deutsche Bundesbank, central banks of Italy and Germany, respectively, joined forces to work on settlements in central bank money of DLT-based asset exchanges. The official announcement stressed that the primary goal of the joint workshop was not to use DLT as a replacement for conventional....