Threat of ‘Substantial Disruption’ Sees Banks Using Blockchain in 2017
According to an IBM survey that gathered insights from 200 global banks, 15% of those banks could be running blockchain solutions as early as 2017. While 2016 is the year that has – already – seen blockchain prototypes tested and trialed, 2017 will be the year banks start putting blockchain solutions into implementation, according to a new IBM study. “Hurtling” Toward Blockchain. Released today, the study, “Leading the Pack in Blockchain Banking: Trailblazers Set the Pace”, conducted by IBM Institute for Business Value, summed up the interest in blockchain among the 200 banks it surveyed,....
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The CEO of cryptocurrency exchange Binance does not see central bank digital currencies (CBDCs) as a threat to cryptocurrencies, like bitcoin and ether. “It will validate the blockchain concept so that anybody who still has concerns about the technology will say: ‘Ok, our government is using the technology now,'” he opined.
CZ Sees No Threat to Crypto Coming From CBDCs
Binance CEO Changpeng Zhao (CZ) said Wednesday that he believes central bank digital currencies (CBDCs) are not a threat to cryptocurrencies, like bitcoin (BTC) and ether (ETH), Reuters....
An industry survey that covered 150 executives and investors in the banking sector has revealed that Fintech startups are only causing limited disruption to the industry rather than the dramatic, industry-defining shakeup of an ‘Uber Moment’. A new survey conducted by Autonomous Research has revealed that 14% of banks face a significant threat by Fintech innovations such as bitcoin’s blockchain and similar distributed ledger technologies. Other figures show 44% of 150 investors and banking industry executives believing ‘selected disruption’ in certain sectors while 41% are of the opinion....
UK-based banking giant HSBC sees blockchain technology to benefit state-installed central banks, institutions that are tasked and responsible for a country's economic growth and wellbeing. In a document obtained by Business Insider, HSBC sees the potential of blockchain technology to transcend private and investment banks and influence or even enhance central banks' policies. The publication reports that HSBC sees central banks' current method of helping the economy through interest rates has a few drawbacks. Notably, there's no guarantee of the money pumped into the real economy as the....
A new Morgan Stanley report aimed at assessing whether blockchain is a threat to big banks agues that the short-term benefits of the technology are likely minimal, but that future growth is likely. Published yesterday, the report features a timeline of when Morgan Stanley predicts certain blockchain milestones will be reached. Culminating in 2025, Morgan Stanley identifies 10 roadblocks to banks integrating blockchain. However, the report includes language that suggests the global investment bank may be seeking to understand how blockchain tech may impact its portfolio or perhaps its own....
2017 will be the year where many more substantial changes happen. These changes will affect the future of cryptocurrencies. Big Changes in 2017. We’ve seen some great developments across the cryptocurrency landscape these past few years. Recent changes have made the cryptocurrency scene even livelier than anticipated. As reported before, more than 2.3 billion people can now shop on Amazon using Bitcoin. New regulations are being put in place by Europol, Interpol and the Basel Institute to protect Bitcoin exchanges and users. 2017 will be the year where many more substantial changes happen.....