Internet and Mobile Banking Kills ATMs, Opens the Floodgates to Cryptocurrencies
With increasing adoption of internet-banking and mobile-banking, an extensive network of branches is no longer necessary for banks. Are bank branches headed for extinction? Changing Face of Banking. Change is inevitable. Before the invention of ATMs, the teller was an important person at the bank. Now verifying your account balance, counting your money and handing it to you is done by machines. Machines do this more quickly, more accurately and at a lower cost compared to your tellers. A similar paradigm shift seems to be happening within bank branches. Increased adoption of....
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When internet connectivity finally starts to go mainstream in underbanked and unbanked regions, such as Africa, Bitcoin could greatly benefit from that. However, Kenyan government officials are attempting to regulate public Wi-Fi access by requiring users to register with the government. It goes without saying that giving people free access to public WiFi without them providing some form of identification opens the floodgates for illegal and illicit internet activity. Usually, public wi-fi hotspots will require you to enter a mobile phone number or an email address before you can connect....
Would you believe it if someone tells you that the most advanced countries in the world are the ones that adopt new technologies sooner than the rest? If you did, then you might be wrong with a few things, especially mobile banking and Bitcoin adoption. Let's take Turkey for example. ING, the Dutch multinational banking and financial services company recently published a report titled "ING International Survey - The rise of mobile banking and the changing face of payments in the digital age" . The survey was conducted by ING along with Ipsos to understand the behavior of its existing and....
There are a surprising number of bitcoin ATMs currently on the market for entrepreneurs willing to make an investment. Companies like Robocoin and Lamassu are building and selling ATMs that can exchange government-backed currencies for bitcoin all over the world. While hardware and software are readily available, the potential roadblock for many of these ATMs is compliance. In many countries the regulation of virtual money transmitters is still something of a grey area. Additionally, some governments do not appear to be interested in hosting virtual currency ATMs at all. CoinDesk recently....
Banks are struggling to provide around the clock customer support and services right now. NatWest wants to change that by opening a new branch with 24-7 automated banking facilities. However, Bitcoin has been offering its services around the clock for seven years now. Having access to financial services can be done through mobile or PC banking these....
CoinTelegraph speaks to Devon Watson, Diebolds VP of Global Software R&D, on a mobile driven ATM, conditions for using Bitcoin in mobile banking and implementation of Blockchain into the Diebold platform. Diebold Inc are a financial self-service, security and services corporation, incorporated in the United States since 1876. It is the world's largest manufacturer of ATMs with divisions in North America, Europe, Middle East and Africa, Asia Pacific and Latin America. Devon Watson, Diebolds VP of Global Software Research and Development, is an owner of bitcoinCT r: 8 and a big fan of....