Big banks think new furniture is innovation, but they are wrong
True innovations are a serious problem for traditional financial institutions, but fintech and crypto startups have the solution. When banks finally come to improve their technology experience, they go no deeper than changing the front end. They’ll make a button blue instead of green or create rounded edges on buttons instead of square ones. They think in terms of their interfaces, not the back end. If a bank were to truly innovate its technology, it’d dig deeper into the back end and transform its legacy technical infrastructure, which has been the same for decades. Few today even know....
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Bitcoin adoption added another notch to the stick this week when up-and-coming design company, Möbler, announced that it will be accepting Bitcoin payments for its innovative furniture design, corporate interior design and retail design services. Möbler is based in Johannesburg, South Africa, from where the company designs and dispatches custom furniture and interiors, as well as office and shop designs to the accelerating continental African retail sector. In a radical rethink of the traditional you-come-to-us design business model, Möbler offers customers, wherever they are, an....
American citizens are losing confidence in just about every major institution, and according to Gallup, banks are no exception. Confidence in Banks Drops Significantly. Hardly anyone will be surprised to hear that banks are taking the brunt of this loss in faith. Whereas 49 percent of Americans had confidence in their banks back in 2006, that number....
New Spanish bill aims to enable innovation in different sectors but shows a lack of understanding of Bitcoin and its real innovation.
Banks are not moving fast enough to protect themselves against blockchain disruption, which could result in a loss of up to $150 billion in revenue, according global management consultants Bain & Company. Bain: Banks ‘Flat-footed’ in Face of Blockchain Disruption. The firm, which filed a report on banks’ responses to blockchain last week, said that....
Why Do Banks Hate Bitcoin? Banks have been a part of our society for so long that we have forgotten what exactly they do. We think of them as bastions of security and stability. They hate Bitcoin because of it's inherent instability, right? Wrong. There is more to this than meets the eye. Economists are now asking the question: Do we need banks? The answers they are coming up with is somewhat surprising. There is a misunderstanding out there, of the role of banks today and, in particular, where all the money they loan out, comes from. The Bank of England recently published a paper called....