MIT Report: Legacy Finance ‘Will Undoubtedly Disappear’
A new fintech report by the Massachusetts Institute of Technology (MIT) has legacy banking will “undoubtedly disappear” and that future banking will need to handle both private and state-issued virtual currencies. MIT: Legacy Culture ‘Inhibits Innovation’. The report, dubbed “DIGITAL BANKING MANIFESTO: THE END OF BANKS?” was released this month by Alex....
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The need for blockchain specialists in the finance field is growing fast, says Yahoo Finance. Companies such as American Express, Fidelity, IBM, Infosys, BNY Mellon, JPMorgan, and Bank of America are hiring experts who understand the blockchain and can help integrate with legacy financial systems. Blockchain Specialists Needed. With Bitcoin and....
During the 70s and the 80s, the African banking sector suffered a major liquidity and insolvency crisis. The finance practices were undoubtedly poor, and so do the supervision of counterpart risk. Though with time, the sector thoroughly improved with the introduction of more robust and resilient technologies. But even with vast improvements in Africa's national and local banking infrastructure, a majority of its people still found themselves deprived of using such services. As noted in an elaborative report by CNN, 75% of the sub-Saharan population still don't have a bank account. In the....
In an age when the need for digital privacy is more apparent than ever, the legacy of the cypherpunks, Bitcoin’s root collective, lives on. The post Crypto Art Of Resistance: Remember, Remember The Legacy Of The Cypherpunks appeared first on Bitcoin Magazine.
A report written by two payments analysts, James Schneider and SK Prasad Borra, at the Goldman Sachs research division, has stated that Bitcoin and cryptocurrencies are part of a technology megatrend that could fundamentally alter the transactions mechanism. The report titled, The Future of Finance: Redefining The Way We Pay in the Next Decade, was released yesterday and was second in a series, which has earlier taken up rise of the shadow banks. The report suggests that if the concerns regarding the safety of funds are taken care of, along with implementation of the Big Data, Bitcoin,....
Kraken has identified a decreasing correlation between Bitcoin and the legacy financial markets. A report published by major U.S.-based crypto exchange Kraken has identified signs the correlation between Bitcoin (BTC), the greenback, and legacy markets, is continuin to weaken.Kraken’s September volatility report found Bitcoin (BTC) largely maintaining a negative correlation with the U.S. Dollar Index (DXY) since May, despite a brief coalescence between the two markets in early September. Bitcoin's 30-day rolling correlation with U.S Dollar Index: KrakenThe report attributes BTC’s dollar....