Banking Trade Group BAFT Seeks Bigger Role in Blockchain Policy
An innovation effort launched earlier this year by a transaction banking trade group has set its sights squarely on blockchain technology. Announced in September 2015, the Bankers Association of Finance and Trade (BAFT) Innovation Council was originally tasked to develop educational resources for a wide range of tools applicable to transaction banking, including but not limited to blockchain. But after BAFT, a subsidiary of the American Bankers Association that is focused on cooperation among correspondent banks, hired two new people earlier this year to help manage the innovation effort,....
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BAFT, the Global Financial Services Association, announced a new technological push on September 16. The group of Bankers, importers, exporters, brokers, providers and suppliers, and other investors have created the “Financial Technology and Innovation Initiative.” The initiative is the organization’s pursuit to educate investors and traders about....
Global financial services association BAFT is set to drive bitcoin and blockchain awareness with the launch of its new FinTech scheme. The association, which deals with a wide range of topics affecting transaction banking, launched the initiative in an attempt to draw attention to the various innovative technologies that are currently transforming services such as cross-border payments and trade finance. Tod Burwell, BAFT president and CEO, said: "Emerging technologies such as blockchain technology, distributed ledgers and virtual currencies are redefining how supply chains operate and....
A new survey shows financial professionals are increasingly bullish on blockchain and distributed ledger tech, even as they profess to a lack of understanding of the subject matter. Conducted by think tank and distributed ledger specialist Z/Yen Group at the Bankers' Association for Finance and Trade (BAFT) Global Annual Meeting in Paris this January, the poll found that while 70% of respondents said the financial institution they work for is exploring the technology, 69% reported they don't believe they have a “good grasp” of how it works. Overall, 73% of respondents reported they had....
John Collins, head of policy and government affairs at bitcoin wallet provider and exchange Coinbase, has announced he will depart the company in February. Collins joined the startup in October 2014 as its in-house liaison to US policymakers. At the time, Coinbase said the hiring was part of its broader effort to better inform US lawmakers on the technology. In a email obtained by CoinDesk, Collins indicated that he will move on to a role at BAFT, the international subsidiary of the American Bankers Association, to serve as vice president of international policy. Collins wrote: “It's been....
Global financial services association BAFT has launched a new scheme to promote Bitcoin and blockchain technology. The association, which deals in creation and implementation of global finance policies, launched the initiative to drive "awareness of innovations in financial technology". In its official statement, the international body emphasized how the pace of innovation has redefined the methods of cross-border payments and trade finance; and how it believes to address the regulatory issues for both banks and similar financial institutions through a thorough input. Tod Burwell, the....