Existing Financial Systems are Rigged, Says Fringe Finance CTO Brian Pasfield
The traditional finance world, or TradFi as we know it, lacks inclusivity. According to the data published and endorsed by the World Bank, only 69% of the world’s adult population has an account. Although financial inclusion is the enabler for seven out of the seventeen Sustainable Development Goals, 1.7 billion people are unbanked. Lack of inclusion stems from the entry barriers that the TradFi has itself cultivated in the form of unnecessary documentation needs, involvement of too many intermediaries and approvals in the process, and more. The current financial structures are rigged,....
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The majority of Americans think the economy is rigged in favor of certain sectors at the expense of others. Meanwhile, the economy could be on the verge of another recession. Time to switch to Bitcoin to protect your wealth. According to a survey conducted in the US, a full 71% of responses indicated that they believe the economic system is skewed in favor of certain groups. In response to which came closer to their opinion on the US economy, three choices were presented: The economic system is rigged in favor of certain groups The economy system is fair to all Americans Don't know The....
Investment in bitcoin is outpacing that of the early Internet by almost 25%, according to a report today by the International Business Times, a London, U. K. -based newspaper. Venture capitalist investment in bitcoin startups is projected to be $786 million in 2015, compared with $639 million in Internet companies in 1996, the report noted. The venture capital investing includes the $116 million raised by the San Francisco-based 21 Inc. in March, the most ever for a cryptocurrency sector startup. 'A Fringe Technology'. Marc Andreessen from Andreessen Horowitz, the lead investor, said that....
The chart pointing out artificial price floors on MtGox via The Bitcoin Channel. In the Bitcoin Channel's latest episode of The Bitcoin Report, the possibility of MtGox having a rigged market is heavily discussed. While the episode steers clear of claiming MtGox is insolvent, it definitely insinuates that there is some form of price fixing going on behind the scenes. When looking at the recent charts for BTC/USD trades on MtGox, you can clearly see an artificial floor on the price of bitcoins. This has happened multiple times over the past week or so, and it clearly indicates that someone....
Satisfying the standards of Hong Kong, the center of technology and finance in Asia, BOCHK has persistently focused on the advancement of their existing financial services and mobile banking platforms Bank of China Hong Kong (BOCHK), the largest bank of the city, has displayed Hong Kong’s explosive demand for online payment and fintech services over the past year. With nearly 1 million customers on its mobile phone platform, BOCHK plans to accelerate the development of online financial systems. Satisfying the standards of Hong Kong, the center of technology and finance in Asia, BOCHK has....