SWIFT Fears Bitcoin? Institute Asks if Bitcoin Threatens Paper Money
Could Bitcoin run the world in the future, instead of the current fiat currency system? SWIFT thought enough of this question to study the idea in-depth. According to the U.S. Department of Energy, the Earth gets more solar power from the sun in a single hour than humanity uses in an entire year. Yet, solar power only provided 0.39% of the energy used in the US last year. Why? Because the world runs on hazardous, inefficient, primitive oil. Why? Because the countries, governments, and businesses of the world want it that way to control the use of money, energy and systems on the planet.....
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The global financial industry continues to study the block chain with increasing vigor. The SWIFT Institute, a La Hulpe, Belgium-based financial research organization, is seeking proposals for a pair of research grants on block chain capabilities. Each 15,000 EUR grant is for block chain research, one in securities and the other in intraday liquidity. Proposals must be submitted by Aug. 7. In each case, the institute will pay half of the 15,000 euros immediately and the balance on acceptance of a working paper. The institute will publish each working paper to the global financial industry....
A group of researchers from SWIFT institute have published a paper on the influence of Bitcoin and other digital currencies on fiat ecosystem. Is Bitcoin a threat to the traditional monetary system and financial institutions? A group of SWIFT Institute researchers refuse to believe so. A working paper titled “Virtual Currencies: Media of exchange or speculative asset?” published by Dirk G Baur, Kihoon Hong and Adrian D Lee analyzes the dynamic relationship between both the currencies. In the report, they present a theoretical model used to gauge the potential impact of Bitcoin and other....
The SWIFT Institute is offering research teams €15,000 to investigate how bitcoin's underlying distributed ledger technology could impact the global securities ecosystem. The institute is a financial services research group backed by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which provides a network for global financial institutions to send and receive information about financial transactions. The grant follows the SWIFT Institute's call for information on the risks associated with bitcoin as a digital currency in 2014 and comes amid a broader shift in....
The SWIFT Institute has announced it is launching a new research programme on digital currencies, with a €15,000 grant on offer for the author of the winning proposal. The institute is looking for research on recent developments in digital currencies and cryptocurrencies, but places an emphasis on bitcoin, which it describes as “arguably the most popular” digital currency. “With bitcoin’s increasing usage, virtual currencies are becoming more of a reality. There are bitcoin ATMs in more than 10 countries worldwide, and the currency is increasingly accepted by mainstream retailers,” the....
A new report from the SWIFT Institute has found that fiat currencies are more likely to crowd out digital currencies such as bitcoin. The paper, Virtual Currencies: Media of Exchange or Speculative Asset? [PDF] analyses the dynamic relationship between virtual currencies, such as bitcoin, and fiat currencies. The research looked at whether or not the design and the size of virtual currencies could pose an immediate risk to monetary, financial or economic stability. The paper found that fiat currencies are more likely to crowd out virtual currencies and that the design and size of virtual....