Banking Blockchains Without Native Digital Assets are “Nonsense”, says Italian Tech Professor
Ferdinando Ametrano, a professor at Politecnico di Milano, Italy’s largest tech university, recently criticized the blockchain hype revolving around banks in an interview at the Blockchain Money conference, describing the efforts of banks and financial institutions in creating a blockchain without a native digital currency as nonsensical. Over the past two years, the world’s largest banks and financial institutions have led the development of permissioned blockchain networks and enterprise-grade blockchains for cross-border payments and settlement of asset. Various research firms including....
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A new emerging economy, which includes blockchain-native tokens, digital tokens, stablecoins and CBDCs, requires interoperable blockchain standards. Cross-chain asset transfer has been around for several years. The concept developed almost as soon as multiple blockchains were developed and began to gain adoption. In its initial application, the transfers focused on swaps between the chain’s native assets and tokens, which led later to several decentralized exchanges. While exchange of assets has its utility, pure transfer and movement of assets and other data easily across blockchains....
Italian bitcoin enthusiasts gathered at the Chamber of Deputies, the lower house of the Italian parliament, in Rome on Wednesday with the aim of informing Italian lawmakers about the economic benefits of bitcoin. The 11th June event, organised by bitcoin consultancy Coin Capital, featured participation from parliament member Stefano Quintarelli and Senate Vice President of the Treasury and Finance Committee Francesco Molinari, as well as representatives from Italy's academic and banking sectors. Coin Capital told CoinDesk that the first two hours saw its partners Sebastiano Scròfina and....
The Blockchains + Digital Currencies conference was held on July 28, 2016, in New York. Leaders and entrepreneurs in the banking and fintech industries discussed how blockchains and cryptocurrencies, such as Bitcoin and Zcash, can help reengineer banking processes and provide faster and more secure financial transactions, as well as cut costs by billions....
The Italian Banking Association, ABI, is conducting digital euro tests as the European Central Bank is yet to make a clear decision on a central bank digital currency. The Italian Banking Association, or ABI, has affirmed its support for the implementation of a sovereign European digital currency by beginning pilot studies on a digital euro project.According to an announcement, the association is working with its research and development arm, ABI Lab, and commercial banks in the country to develop an experimental digital euro.The ABI’s digital euro study will reportedly focus on two major....
The Italian Banking Association claims that about 100 local banks are now operating on a blockchain network designed to speed up interbank transactions and processes.