How Scallop Intends to Take on The Global Banking Industry
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. […]
Related News
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....
Three main purposes would be pursued by the Global Banking Network: developing technological innovation for the entire planet, digitally organize global finance through partnerships, and ending all monetary crimes. Now that The DAO is making media headlines all over the world, Ethereum community members are coming up with new ideas to take the DAO concept one step further. Whether or not Global Banking Network will ever be implemented, remains to be seen, as there are a lot more questions than answers. Global Banking Network As A DAO. Decentralized autonomous organizations hold a lot of....
Distributed financial settlement solutions provider Ripple has announced the hire of Marcus Treacher, a veteran in transaction and payment systems banking. Treacher is a former executive at HSBC and member of the Global Board at SWIFT. In a press release, Ripple has announced a new hire in Marcus Treacher, as its new global head of strategic accounts. Treacher is an industry veteran with over 30 years of experience in payment systems and transaction banking. A former executive with a global leadership role at UK-based global bank HSBC for 12 years,Treacher also served as member of the....
Senate Banking Committee member Pat Toomey (R-Pa.) said Monday that he intends to take up digital currency regulation and payments system reform if he becomes the committee’s next chairman.
Banks know Blockchain is a threat to the linchpin of their economics: the customer relationship, and the $1.7 trillion they made in 2014 from global payments revenue which is a massive 40% of their annual profits. Historically the banking industry has provided three main services: financing, investment and transactions. And now they seem to dismiss Bitcoin publicly and highlight the distributed ledger or Blockchain. Do we really need a middleman? The customer relationship is the glue that binds the banking institutions together and keeps this type of profit rolling in. Although after....