What is the importance of blockchain in the RegTech ecosystem?
RegTech enhances compliance for financial services institutions. This guide explains how blockchain works in banking to achieve this goal. What are the key areas where blockchain is adding value to the RegTech ecosystem?Financial regulators and service providers are looking for the best and most cost-effective solutions to help the banks and other financial institutions comply with the rules and do business in a compliant regulatory environment.As blockchain is already disrupting the conventional ways of doing businesses, thanks to its benefits in terms of enhanced transparency, faster....
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Coinfirm estimates that RegTech can reduce compliance costs for financial services companies by as much as 50 percent. RegTech may be “the next big thing” in fintech as digital currency and blockchain startups bump up against new government regulations, resulting in an increase in the demand for legal compliance information that will help companies navigate regulatory requirements and conduct risk assessments. Banks and other financial institutions are also looking for cost-effective ways to assess the risks of using new blockchain technologies in different jurisdictions and to modify....
PRESS RELEASE. OccamRazer is a decentralized fundraising vehicle, or launchpad, with a full suite of compliance and RegTech tools as well as feature-rich UX suitable to accommodate a vast variety of fundraising profiles, acting as the key that will unlock the Cardano ecosystems’ liquidity. As AMM-based vehicles for decentralized fundraising, such as IDOs, are known to be an ill fit due to extreme volatility, front-running, and inability to reflect the intricacies of the fundraising process, Occam.fi introduce a new family of protocols. Continuous and discrete in nature, these....
The blockchain project New Economic Movement (NEM) has big goals; namely, re-creating the economic system without the predominance of traditional power brokers. As the project’s website states: “NEM is a movement which aims to create a new economy based on the principles of decentralization, financial freedom, and equality of opportunity.” The project’s “Proof-of-Importance” model as an alternative to Proof-of-Work and Proof-of-Stake represents its central innovation. Proof-of-Importance calculates how much users transact, and with how many other participants, so as to place a value on the....
Germany recognizes the importance of blockchain, but how did it act in 2020, and what effect will this have on its blockchain ecosystem? Germany has a very diverse, active blockchain ecosystem of companies and enthusiasts, especially in the city of Berlin. And an important step in the development of this ecosystem has been taken by the federal government itself, which tries to preserve and promote the vibrant blockchain ecosystem to continue its growth and make Germany an attractive opportunity for investment in this field.Comprehensive, sound regulationTo further this goal, the German....
While we all live in societies where money is mostly considered as a mean to bring wealth and prosperity, there are other factors and aspects in life that all people appreciate. One of these elements is reputation. Reputation is defined as an overall quality or character, as seen or judged, by people in general. It is totally relative among people in a society and has properties of decentralization. Unfortunately, reputation has never been considered in any monetary system and its value has never been appreciated as it should be. “This algorithm gives a pretty good approximation for the....