Global council adds DeFi banking firm Scallop to help secure payment data
Scallop will help create awareness and drive the adoption of the PCI Security Standards. A council formed by traditional finance conglomerates American Express, Discover, Visa and Mastercard welcomes a decentralized finance (DeFi) banking firm to its participating organizations that help improve payment data security worldwide.Scallop, a regulated DeFi banking app recently announced its entry to the PCI Security Standards Council (PCI SSC), a global community with a goal to improve payment data security worldwide. According to the DeFi firm, it will be working with the PCI SSC by assisting....
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The world’s banking industry is ever-evolving, with new trends and disruptive opportunities emerging every year. In 2020, the global pandemic gave rise to a large shift in consumer behavior in almost every industry. For banking, like many others, this was a shift to online or digital operations, as in-person service was inevitably no longer viable. […]
According to a new document, Bitcoin has been named a talking point by the Federal Advisory Council. The Federal Advisory Council consists of 12 representatives of the banking industry and advise the Board of Governors of the Federal Reserve System. The question "Does Bitcoin pose a threat to the banking system, economic activity, or financial stability?" was asked and the main concerns were mainly about banking, economic activity and the financial stability of Bitcoin. The notes go over how the Council doesn't believe Bitcoin is a threat to the banking system; however, it is a threat to....
Last week at the World Economic Forum 2017 Annual Meeting in Davos, Switzerland, the technology firm Bitfury announced the formation of the Global Blockchain Business Council (GBBC). The initiative grew from Bitfury’s latest partnership with international law firm Covington. GBBC represents an association of leading businesses and executives from around....
The Payments Council, the organisation that sets strategy for payment mechanisms in the UK, has issued a statement saying that it is "neutral" on bitcoin, though it sees "opportunities" for digital currencies. In response to questions from CoinDesk, the Payments Council said that it had been tracking the progress of digital currencies "with interest", and that bitcoin was one of many "competitive offerings" that are emerging in the UK. The organisation appeared to be relatively positive on the future of digital currencies: "As shopping habits are increasingly moving across borders and....
The Dubai Museum of the Future Foundation held the second meeting of its Global Blockchain Council to consider initiatives it will address this year, according to a release from the Dubai government. The council formed last month as part of the foundation’s efforts to adopt the latest technologies and innovation practices at a global level and explore their impact on various sectors. The participants explored organizing a global blockchain conference in May for blockchain experts and enthusiasts. The activities will include a Hackathon to serve as an incubator that provides incentives for....