Bitcoin Magazine, 1/1/0001 12:00 AM PST Purse is best known as a peer-to-peer marketplace and gift card service where users can save money using Bitcoin through Amazon’s e-commerce... The post Bcoin: A "Menace to the Network" or an Enrichment of the Bitcoin Ecosystem? appeared first on Bitcoin Magazine. |
CryptoCoins News, 1/1/0001 12:00 AM PST […] The post Circle Enables Bitcoin Buying and Selling in Several European Countries appeared first on CryptoCoinsNews. |
CryptoCoins News, 1/1/0001 12:00 AM PST […] The post WorldCoinIndex Offers Real-time Market Data for Cryptocurrencies appeared first on CryptoCoinsNews. |
Business Insider, 1/1/0001 12:00 AM PST
Axoni, a blockchain fintech, has successfully completed tests of a blockchain-based system that simplifies one of the most complex areas of trading — equity swaps — in partnership with Barclays, Citi, Credit Suisse, JPMorgan, and Thomson Reuters, among others, IB Times reports. Equity swaps are financial contracts that allow participants to benefit from the returns of an equity security or index without purchasing it. They typically involve agreements between parties that can last up to one year. In order to conduct these transactions, many firms — both dealers and financial firms — have built their own systems, which require bespoke connectivity to one another. These firms must also constantly monitor factors that might affect the transaction, such as fluctuations in equity prices, Libor rates, and unexpected actions by corporations — some of which require manual updates to the contracts. And largely because of this complexity, there is no centralized repository for the clearing or reporting of equity swaps. The system is designed to solve several major pain points for institutions executing equity swaps. First, it provides a standardized framework that all parties can connect to, eradicating the need for multiple bespoke connections. Second, it automatically absorbs relevant information from Thomson Reuters' feeds to enable the automatic implementation of changes to the contract that result from changes in price, etc. And finally, the blockchain provides an immutable record of the contracts that have been executed, and under what conditions, enabling people with access to the blockchain to detect any errors almost immediately. This also limits the possibility of disputes or discrepancies. The successful testing of this system means a real-world application for blockchain in financial services is closer than ever before. The involvement of multiple major banks is key, as the success of any blockchain technology requires widespread adoption of the same system. This testing scenario was also much more complex than many blockchain-based financial services prototypes to date. And Axoni and the FS providers involved claim that they carried out 133 different trials, which had a 100% success rate. This suggests that blockchain technology is passing the prototype and proof-of-concept stage, where it has long languished, and moving toward real-world implementations. Blockchain technology, which is best known for powering Bitcoin and other cryptocurrencies, is gaining steam among finance firms because of its potential to streamline processes and increase efficiency. The technology could cut costs by up to $20 billion annually by 2022, according to Santander. That's because blockchain, which operates as a distributed ledger, has the ability to allow multiple parties to transfer and store sensitive information in a space that’s secure, permanent, anonymous, and easily accessible. That could simplify paper-heavy, expensive, or logistically complicated financial systems, like remittances and cross-border transfer, shareholder management and ownership exchange, and securities trading, to name a few. And outside of finance, governments and the music industry are investigating the technology’s potential to simplify record-keeping. As a result, venture capital firms and financial institutions alike are pouring investment into finding, developing, and testing blockchain use cases. Over 50 major financial institutions are involved with collaborative blockchain startups, have begun researching the technology in-house, or have helped fund startups with products rooted in blockchain. Jaime Toplin, research associate for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on blockchain technology that explains how blockchain works, why it has the potential to provide a watershed moment for the financial industry, and the different ways it could be put into practice in the coming years. Here are some key takeaways from the report:
In full, the report:
To get your copy of this invaluable guide, choose one of these options:
The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of blockchain technology. |
CryptoCoins News, 1/1/0001 12:00 AM PST Time to dive into the Bitcoin price charts. The post Bitcoin Price is Straddling Key Resistance and Support Here appeared first on CryptoCoinsNews. |
Forbes, 1/1/0001 12:00 AM PST Banking’s back end is a mess. It is antiquated, increasingly unprotected and costly to maintain. So global banks want to start fresh with Blockchain, the technology that underpins Bitcoin. You can’t blame the pinstripe and wingtip set for being giddy about Blockchain. It has game-changing potential. Blockchain is the cryptographic, distributive [...] |
CryptoCoins News, 1/1/0001 12:00 AM PST The Union doesn't qualify bitcoin as a currency. The post The European Central Bank Wants Tighter Control over Bitcoin appeared first on CryptoCoinsNews. |
CoinDesk, 1/1/0001 12:00 AM PST The US Federal Elections Committee is quietly debating whether to reclassify how it treats bitcoin donations. |
CryptoCoins News, 1/1/0001 12:00 AM PST The gambling platform claims to be the first licensed U.K. operator to accept the cryptocurrency. The post Licensed U.K. Online Gambling Operator Accepts Bitcoin Payments appeared first on CryptoCoinsNews. |
CoinDesk, 1/1/0001 12:00 AM PST State Street has been tapped to help launch the first bitcoin exchange-traded fund (ETF). |