Bank Execs Want An 'Even Playing Field' For Industry Blockchains
Ninety percent of banking executives surveyed earlier this year by professional services firm Accenture said that their institutions are investing time and money in blockchain projects. Just 3% said that they weren’t doing so, with the last 7% telling Accenture that they were “uncertain” about their work with the tech, according to a report published today. The firm surveyed 32 bank executives in August and September. Yet despite the high degree of interest, the survey also casts a portrait of a banking sector that is largely in a cautious test-and-see phase. Respondents expressed concern....
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MasterCard has spoken out against bitcoin's perceived risks and called for regulators to create a "level playing field" for payments systems. The statements were made as part of an ongoing Australian inquiry into digital currencies, headed by the Senate Standing Committee on Economics. In a document, the credit card company argues that all financial services should be held to the same standard, stating that it is imperative all consumers and merchants are able to conduct business and commerce in a way that is safe and simple for all. The statement says: "It is our view that all....
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Digital Currency Group (DCG) recently published the firm’s “State of Crypto 2020” report which polls more than 150 portfolio crypto companies. According to the study, 75% of the respondents believe the value of their business has grown this year, while 50% of the startups have seen outperforming start-of-year projections. The state of the cryptocurrency industry is growing according to Digital Currency Group’s (DCG) latest report. The study surveyed over 150 DCG portfolio companies’ executives in order to “quantify sentiment and provide qualitative....
Armed with sky-high expectations and seemingly boundless enthusiasm for how tech could reinvent industry in the digital age, the "blockchain" industry has been overwhelmed with blockchains. Not only are there multiple open public blockchain projects, but legacy institutions and corporates are building exclusive permissioned blockchains. So far this year, there have been specialty blockchains created for everything from credit default swaps to managing global supply chains. It's unclear how these blockchains will need to interact with each other in the future to prove its....
Banking will not become decentralized, but with blockchain, it will become accountable for both banks and clients. Recently, European central bank executives — Thomas Moser from Swiss National Bank and Martin Diehl from Deutsche Bundesbank — stated that central bank digital currencies don’t need a blockchain.They expressed their opinions by saying that blockchains — especially public, or permissionless — make no sense for central bank digital currencies. The reason is that central banks are central parties; therefore, a blockchain, being a decentralized ledger, is not applicable. It is a....