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2902, 2020

Avanti promises to bring Bitcoin ethos to banking

|29 Feb 2020|News|

As the famous inscription on the genesis block foretold, Bitcoin has come to represent an existential threat to banks. Now Wall Street veteran Caitlin Long is promising to reinvent banking in the image of cryptocurrency.

2704, 2019

London may overtake San Francisco as global FinTech hub

|27 Apr 2019|News|

A new report published by global recruitment firm Robert Walters has revealed that London is rivalling San Francisco in high-value FinTech startup activity. If current trends continue, the report suggests that London may soon be home to more FinTech unicorns than San Francisco.

803, 2018

What’s next for blockchain?

|8 Mar 2018|News|

Everyone got very excited a few years ago about blockchain technologies, the ledger system that was spawned by the arrival of bitcoin in 2009. It allows the recording of transactions to be automated and completely trusted, as the ledger system is tamperproof. The resulting excitement was that this could therefore replace many systems of contracts that are paper-based with smart, digital contracts.

1201, 2018

Banking as usual is NOT an option

|12 Jan 2018|News|

I’ve blogged quite a bit about adapting to change lately, and will continue to do so as banking-as-usual (BAU) is not an option. It’s similar to standing in the middle of the road. If you stand there for long enough, you’ll get run over. This is as true in banking: if you stop changing, you die. Now banks know this – they’re not stupid – and have been changing a lot over the past decades.

201, 2018

The FinTech outlook for 2018

|2 Jan 2018|News|

I usually start the new year by making some predictions, but so many others have been writing about 2018 trends that I’m not going to. There are four big things for 2018 from a FinTech viewpoint that are obvious to me, however

2712, 2017

Why Blockchain will revolutionize the banking industry

|27 Dec 2017|News|

The banking industry, with all of the potential that blockchain technology offers for change, iteration, and development has been slow in its uptake of the new tech. That said, there’s no questioning whether blockchain technology will disrupt and revolutionize the banking industry. Leaders feel it coming. Some are ready. Most aren’t. But why and how is blockchain going to change banking over the next decade?

712, 2017

Mainstream bitcoin futures markets are coming

|7 Dec 2017|News|

The age of Bitcoin investments going mainstream is nearly upon us, at least for traders in the US market. Last Wednesday, the highest-volume derivatives market in the world, CME Group, announced that it will open its Bitcoin Futures market on December 18th. The second largest market, the Chicago Board of Exchange (CBOE), then one-upped the CME and announced that they’ll be the first to launch Bitcoin futures trading on December 10th.

111, 2017

Will Sweden be the first cashless country?

|1 Nov 2017|News|

As Sweden was the first European country to use cash for payments back in 1661 it’s unsurprising that it’s the first European country that wants to be cashless. This is why, for several years, I’ve been watching the regular speeches by Lars Nyberg, Deputy Governor of the Sweden’s central bank, the Riksbank, talking about eradicating the use of cash in Sweden. **February 2003** Cash is still the king. Given the rapid increase in the use of cards in Sweden, particularly in the late 1990’s, cash should have been expected to fall in importance. This, however, does not seem to have happened. The use of cash, measured as the ratio of the value of currency in circulation (M0) and GDP, fell during the first half of the decade, but have been fairly constant since then, lately even increasing somewhat.

2810, 2017

Survival of the most adaptable

|28 Oct 2017|News|

Wrapping up thoughts on #Money2020, the Vegas show is by far the biggest of this monster event organising company. I’m guessing there were around 15,000 folks there this year, and everything but everything was being covered: AI, machine learning, mobile wallets, core banking, distributed ledger, blockchain, cryptocurrencies and just about every other aspect of making and taking payments. Usually the keynotes on the plenary stage don’t impress me much, as they’re just product pitches, but a few did stand out this year. I was particularly impressed by the content of Oliver Jenkyn’s presentation. Oliver is EVP & Group Executive, North America for Visa and I usually hate Visa’s content. But Oliver began by talking about a messaging conversation he had with his ten-year-old daughter that finished with her asking:

2110, 2017

Why bankers only see horses and technologists are creating cars

|21 Oct 2017|News|

I was at a large bank’s wealth management conference recently, where the CEO was being quizzed about various areas including a lot about technology and FinTech. He made several statements that I noted with interest: “Roboadvisory services improves our speed-to-market and human productivity, but does not replace humans. In particular, I can see that artificial intelligence (AI) and machine learning makes it far easier for us to comply with and implement regulations and deal with regulatory change in the back office.”

2110, 2017

A global currency is coming, whether you like it or not

|21 Oct 2017|News|

Continuing yesterday’s discussions about a big bank’s conference, I was intrigued at how often the subject of cryptocurrencies and bitcoin came up. But there again, it’s a topical thing at the moment with the price of bitcoins surging past the $4,000 mark and Goldman Sachs going against JP Morgan, and saying that they might even trade in it. The conversation at this particular large bank’s meeting went along the lines of bitcoin being a broken model, it’s a bubble and you should definitely not invest in it. The reason for not investing is based upon two major factors.

1909, 2017

The Bank for International Settlements explores Central Bank Cryptocurrencies

|19 Sep 2017|News|

The Central Bank of Central Banks, Switzerland’s Bank for International Settlements (BIS), released a report on Sunday that looks at central bank cryptocurrencies (CBCCs), and if they would they be useful. The 17-page report, titled “Central Bank Cryptocurrencies,” was co-written by Morten Bech and UC Santa Barbara’s Rodney Garratt.

808, 2017

Give Commercial Banks Some Credit: Commercial Bank Money, Cryptocurrencies, and CBDC Regimes

|8 Aug 2017|News|

The potential benefits that distributed ledger technology can bring to payments within regulated regimes have led to increased interest in DLT from central banks around the word. When considering the potential impact and applications of cryptocurrencies and central bank-issued digital currencies (CBDCs), however, an understanding of commercial bank money and credit creation is imperative.

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