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This transaction was completed in 24 hours whereas "a typical paper-based transaction would take 5-10 days,” said HSBC.
In an effort to allow more people to develop blockchain-based innovations, Amazon recently launched a new platform of AWS Blockchain Templates.
The intersections between fintech, blockchain, and AI will be examined at the upcoming Emerging Technologies Summit at the University of Texas.
The EU will propose common standards for blockchain in an effort to create more clarity and encourage fintech innovation.
Alongside established firms, such as Credit Karma and Coinbase, nearly half the list — or 22 firms — are newcomers in 2018.
“Integrating blockchain with SAP and other business applications is inevitably the next frontier for blockchain,” says SophiaTX head Jaroslav Kacina.
“It is a consortium network, collaborative and useful for all," said Álex Puig, head of Spain's new multi-sector tech platform Red Lyra.
Though Mizuho will only take up to a 15% stake in the new venture, it believes the endeavor will help it innovate outside of the stuffy culture within the bank.
"Cognitive computing has the potential to dramatically simplify digital trust processes throughout the financial services industry," said Ankit Ratan of Signzy.
Customers and providers that adopt the “as a service” model will find themselves relatively insulated from political winds — and perhaps better positioned for the wider evolution already underway.
With blockchain, "we may see the financial services industry becoming more streamlined and efficient," says the U.K. actuary department.
Some believe the blockchain technology that underpins digital Bitcoin currency is the future of financial transactions. If so, it could upend status-quo operations throughout the global industry by making money transfers cheaper and more secure. But according to the European ...