#banking

Canadian Bankers Association Wants Blockchain-Powered Digital Identification Systems

January 18, 2019 by Alex Lielacher at Blockchain, Development, Finance, News, Regulation

The Canadian Bankers Association stated that Canada should create a digital identification system that utilizes technologies such as blockchain and biometrics to enable a live video ID verification process. Blockchain-Powered Digital ID for Banking The CBA’s CEO, Neil Parmenter, believes that to unlock the full potential of the digital banking...

Ripple Block Connected to Other Banking Blocks

RippleNet Adds 13 new Clients, Bringing its Total Number of Clients to 200

January 9, 2019 by Tokoni Uti at Adoption, Altcoins, Blockchain, Business, Finance, News

Ripple announced that its payment platform, RippleNet, has acquired 13 new clients, bringing RippleNet’s total number of clients to over 200. The arriving clients include Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND, and Rendimento. On-Demand Liquidity...

The Blockchain Industry Could Reach $7 Billion, Says Bank of America

Bank of America Files Patent to Develop Blockchain-Based ATMs for Faster Transactions

December 28, 2018 by Ogwu Osaemezu Emmanuel at Adoption, Blockchain, Business, Development, Finance, News

The Bank of America (BOA) on December 26, 2018, filed a patent that allows them to develop blockchain based devices to handle cash. These are cash handling devices whose aim is to bring about efficient, faster, and traceable transactions, according to a Finance Magnates report. BOA Doing More with Distributed...

Sports Betting Legalization May See Resurgence of Cryptocurrencies in India

Bitcoin Could Soon Become Legal in India

December 27, 2018 by Priyeshu Garg at Adoption, Bitcoin, Commentary, Finance, News, Regulation

Owning and using Bitcoin could soon become allowed in India, as the second interdisciplinary committee appointed to vote on the legality of cryptocurrencies is in favor of legalizing it, the New Indian Express reported on December 26, 2018. India's Harsh Stance on Crypto Despite the number of crypto and blockchain...

After Blockchain Push, UAE Investigates Ripple (XRP) and a National Cryptocurrency

December 17, 2018 by Shaurya Malwa at Adoption, Blockchain, Exchange, Finance, News

A major payments provider in the United Arab Emirates (UAE) is implementing blockchain-based systems to operate remittance facilities, while the country’s government is discussing the creation of a state-backed cryptocurrency in partnership with Saudi Arabia, as per two reports in the week of December 11, 2018. RippleNet Technology to Be...

Person Checking Laptop with Shinhan Bank Card

South Korea: Shinhan Bank Turns to Blockchain Technology to Augment Financial Services

December 11, 2018 by Shaurya Malwa at Adoption, Blockchain, Business, Finance, News

South Korea’s second largest bank has started a pilot project to implement a blockchain-based work process across a range of financial services and internal protocol management systems, reported Korea Times on December 10, 2018. Leading Blockchain Adoption Managing assets of over $260 billion and storing $192 billion worth of the...

R3 Tent Wagons Carrying Ripple Tokens across the Desert

R3 Adds Ripple as First Settlement Mechanism on New Payments dApp

December 7, 2018 by Priyeshu Garg at Adoption, Altcoins, Blockchain, Business, Development, Finance, News

R3, the world’s leading developer of enterprise blockchain solutions for business, launched a new global payment platform that uses Ripple’s XRP as its initial base currency, the company announced in a press release on December 5, 2018. R3 Launches a New Global Payment Platform One of the leading enterprise blockchain...

Blockchain Streaming out of a Bank onto Someone's Phone

The U.S. DFS Approves Digital Payment Platform for Commercial Banking Transactions

December 6, 2018 by Cindy Huynh at Adoption, Altcoins, Blockchain, Business, Finance, News, Regulation

Maria T. Vullo, the Financial Services Superintendent, announced on December 4, 2018, that the Department of Financial Services (DFS) had approved Signet, the New York State-Chartered Signature Bank’s new digital payment platform. Signet: Innovative Solutions for Bank Payment Systems According to the DFS’ press release, Signature Bank is the first...

BIS Report: Cryptocurrencies Are a Poor Store of Value, Unlikely to See Mass Adoption

November 7, 2018 by Aisshwarya Tiwari at Adoption, Altcoins, Bitcoin, Blockchain, Commentary, Finance, Guides, News

A report from the Bank for International Settlements titled “Money and payment systems in the digital age,” published November 1, 2018, suggests that leading cryptocurrencies such as bitcoin, ether, and stablecoin tether do not serve the primary functions of money, and are, therefore, a poor store of value. Unlikely to Witness...

HSBC Completes Blockchain-Based Transaction for India’s Reliance Industries

November 5, 2018 by Cindy Huynh at Adoption, Blockchain, Business, Finance, News

The British multinational banking organization HSBC and Belgium’s ING Bank have partnered to execute a trade transaction using the blockchain network from a U.S.-based Tricon Energy to India’s Reliance Industries. According to an Economic Times article published on November 4, 2018, the blockchain-enabled letter of credit transaction is the first...

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