Tagged with 'Blockchain'

Is our bankingsystem threatened?

The battle lines have been drawn and the troops assembled. On the one side stands the combined might of the banking cartels, centuries of deeply entrenched financial infrastructure supporting them. And on the other side stands a handful of crypto companies armed with little more than a passionate plea: “Ditch the legacy system and come join us. Where we’re going, you won’t need banks.”

It’s an enticing call – but is anyone heeding it? Every couple of months, a new trend comes along that captures column inches and crypto Twitter chatter, before everyone moves on to the next new thing. Last month it was defi, before that IEOs, and before that exchange tokens. Right now, the hot topic is crypto lending, and it comes bearing an intriguing question: are crypto lending platforms a solution to a common problem, or a solution in search of a problem to wrap itself around?

Crypto Lending Platforms Prepare to Assail the Banking System?

Before we attempt to answer that, some basic facts: getting a bank loan for personal or business use is extremely hard, verging on the impossible these days. Unless you have property you can collateralize against, you’ll struggle to get a loan, and even if you do, the interest will likely be exorbitant. Gone are the days when you could walk into your bank, have a sit down with the manager and thrash out the terms of a loan with which to start your own business. Attempt that today, casually dropping into the conversation that you were planning your own crypto startup, and not only would you be refused credit, but you’d be liable to have your account closed. Such is the suspicion with which the legacy financial system views crypto. They’ll be proven wrong eventually, around the same time as the last of their venerable banking houses are being converted into nightclubs and apartments.

Crypto Lending Platforms Prepare to Assail the Banking System?

From Bricks and Mortar to Binary Code Bartlomiej Wasilewski is the founder of Marshal Lion Group, a tokenized lending market that provides non-bank loans for businesses and individuals. He told news.Bitcoin.com: “The digitization of finance is inevitable, not just within the crypto sector, but also more broadly, as shown by the rise of microloan platforms that enable individuals to lend capital to businesses, while retaining oversight over how it is deployed, and the ability to witness the benefits of their investment in action and be remunerated for their services.” He added: Within the crypto space, lending is about more than simply attempting to mirror the products to be found in the traditional financial system.

A lot of crypto businesses struggle to obtain banking facilities, and for these entities, having access to alternative sources of capital, be it as a bridging loan or to support long-term growth, is vital. Wasilewski’s vision is slowly materializing, but the wounded banking system is not yet in its death throes. It will likely take a decade or more before digital currencies render it obsolete. In the meantime, those who have been refused credit by financial institutions are being urged to turn to crypto lending. But are crypto lending protocols and platforms enterprise-ready?
And if so, what do they have to offer entities that have been turned away by the banking system?

 

Source: Bitcoin News 29 August 2019

Swiss watchmaker using blockchain tech

The 263-year-old Geneva-headquartered watchmaker Vacheron Constantin has spent over two-and-a-half centuries protecting the traditional crafts around handmade watches.

But it is also a brand that’s willing to embrace bleeding-edge 21st-century tech.

At the VivaTechnology conference in Paris last month, it announced that it was rolling out the blockchain technology for its Les Collectineurs series of vintage watches.
Blockchain is a largely impenetrable system that is immune to efforts to externally tamper with the system. Therefore, the watch brand is using it to issue digital certificates that establish the authenticity of the watches.

These digital certificates issued via the blockchain platform will accompany the traditional physical paper certificates issued for each watch.

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Technology-enabled sustainable economy

From ESG-themed data mining to blockchain voting, technologies around sustainability practice and reporting are expanding rapidly. Companies are starting to discover how they can incorporate new technologies such as artificial intelligence (AI), blockchain or the Internet of Things (IoT) to advance their environmental, social and governance (ESG) efforts and the way they report on them.
Over the past decade the world’s biggest companies have started to come under pressure from stakeholders to improve the management of natural resources and human capital.
 

How technology is driving the evolution of intelligent banking

Globally, retail banking has changed considerably over the past decade. Retail banks have adapted to changing consumer demands and expectations, new technologies (eg, artificial intelligence, AI, blockchain and the Internet of Things), new competitors (eg, neo-banks, payment players and tech giants) and new regulations (eg, open banking and PSD2) while reducing costs and creating value. These combined factors have resulted in retail banks adjusting their business models, rethinking their innovation strategies and investment focus, and altering their product offerings and how they are delivered.

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Sweden-based Fintech company implements AI-module for Fluent Digital Presence

 

Sprinkle is implementing an AI-module in which all content and functionalities are constantly adjusting and updating to the latest trends and technology.The Sweden-based Fintech company will integrate blockchain technology for smooth investing and a unique widget that allows automated newsfeeds and digital profiles.

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