IBM Unveils Digital Asset Haven For Banks And Governments – Details

The blockchain is often touted as one of the most revolutionary staples of modern technology. Institutions from banks to governments have attempted to “exploit” its technology in the hopes that they can digitize and record their data in real-time to keep it safe from security breaches and related issues. The next spot on the map looking to harness blockchain technology is Singapore. Asia is proving to be a regular haven for digital currency and its respective technology. China is often regarded as the biggest influencer of bitcoin, touted for its price hikes, then pointed at and ridiculed....

Banks and governments are warming up to the possibility of leveraging the power and resiliency of the blockchain to implement smarter financial systems that permit faster and cheaper local and global transactions, permanently recorded in a tamper-proof blockchain. At the same time, financial institutions and states find some aspects of Bitcoin worrisome. One concern is that the Bitcoin network relies on anonymous miners to validate transactions. This concern is addressed by various concepts and implementations of "permissioned blockchains" that are popping up, which would offer the....

Major central banks worldwide have spent the past year organizing their own working groups dedicated to exploring blockchain technology and digital currencies. During a three-day event in Washington, DC, hosted by the World Bank, the Intentional Monetary Fund and the US Federal Reserve, representatives from a range of central banks worldwide offered private details about the ongoing work at their respective institutions. At the gathering last week the central bank leaders expressed broad interest in how the technology might impact both the banks they regulate as well as their own....

It's no secret that cryptocurrencies have undergone a dramatic rebrand. No longer perceived as a threat to banks and governments, cryptocurrencies are now being hailed as "digital assets". As more and more financial intuitions become comfortable with the blockchain technology on which they are based, they are openly discussing a future when the financial tools are just another part of the industry. Now, a dozen banks have announced the completion of an initiative during which they tested a potential application of a digital asset. Revealed today, 12 member banks of blockchain....

Bitcoin is the future of global economy' is the mantra for many bitcoin enthusiasts. The potential of bitcoin as a global currency, replacing existing fiat currencies has been widely covered by many publications, including NewsBTC. Considering the scenario, many people are automatically led to believe that the Central Banks and governments are opposed to this idea and they are doing all they can to prevent bitcoin's global dominance. However, a closer look shows that the belief might not be entirely true. While few banks and governments have considered and even openly declared that they....