Yet Another Bitcoin Impact Assessment Report by Santander
A recent report by Banco Santander discusses the potential impact of Bitcoin adoption on Brazilian banking and financial sector. The number of reports discussing Bitcoin’s impact on mainstream banking and financial sector is overwhelming. Adding to the list is yet another report focused on Brazil, published by Banco Santander. The report titled “Brazil: Banks and Financial Services – To Bitcoin or Not to Bitcoin?” is a result of last month’s meeting with Banco Santander, Mercado Bitcoin — the leading Latin American Bitcoin exchange and local investors. The meeting revolved around the....
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One of the largest European banks in operation today is looking to get the skinny on bitcoin and digital currencies, it would seem. Europe's Santander Bank has reportedly commissioned a study on the impact of bitcoin and other cryptocurrencies on the traditional banking system, according to a report first published on HashReport. The study is taking place on the Yegii - a platform founded by MIT professor Trond Undheim. The idea is to get a group of industry experts, enthusiasts, and even skeptics together to "[a]nalyze the impact of bitcoin and other cryptocurrencies on banks and devise a....
Global banking giant Santander has commissioned a study investigating the potential impact of bitcoin and other cryptocurrencies on the banking sector. As the 43rd largest company in the world, the multinational megabank has branches on five continents and upwards of 180,000 employees. Santander's study, titled Bitcoin's Impact on Banks, is being run by insight network Yegii, which is now recruiting experts in the field. The project's budget is $5,000 and the stage one deadline is 27th August 2014. The report is due to be finalised in late September. In a company post, Yegii outlined the....
A securities affiliate of Spanish banking group Banco Santander is predicting bitcoin will have a significant impact on the legacy finance ecosystem should it see wider adoption. The report, published earlier this week, stems from a meeting involving Santander researchers, Santander Investment Securities, Brazilian bitcoin brokerage Mercado Bitcoin and local investors. While short, the publication offers a take on the risks (or opportunities) card issuers, acquirers, exchanges and banks would face in a future should the use of digital currency become more mainstream. Perhaps most at risk,....
According to a report from IBTimes the UK division of Santander is using Ripple blockchain technology for international money transfers. Santander employees have tested the new application that connects the Ripple network to Apple Pay by sending transmissions of £10 and £10,000. Santander Bridges Ripple with Apple Pay. The new application that uses....
Spanish megabank Santander has been experimenting with blockchain technology. Its head of research and development will discuss applications of the technology at Consensus 2015. Twenty billion dollars a year - that's how much banks could save on cross-border payments, compliance and securities trading if they used blockchain tech to move money and assets around the world, according to a report co-written by Spanish megabank Santander published last month. Julio Faura is one of the Santander executives playing a crucial role in making that massive cost-saving a reality. He commissioned a....