The world's largest, most centralized and most powerful institutions are now embracing the technology designed to unseat them Blockchain50
JPMorgan Chase & Co. Chairman and CEO Jamie Dimon, takes the stage during a luncheon. Dimon is one of the most public banking CEOs to embrace blockchain.Ask nearly any leading banker or financial executive to go on the record about blockchain, and you are liable to hear crickets. After all, it’s an industry built on trust and stability and crypto’s recent legacy of volatility and even fraud has tainted the topic.
The world's largest, most centralized and most powerful institutions are now embracing the technology designed to unseat them because they realize that at its, core blockchain is just lines of code that simplify accounting and record keeping. For hundreds of years, bankers have exhibited mastery in ledger keeping and they have no intention of giving that up.
Fidelity, which now has 100 employees devoted to digital assets, has launched a digital asset custody service for institutional investors and is already building a trading platform for purchasing crypto. PNC bank is using Ripple’s blockchain software to process international payments. Santander is already collecting revenue from One Pay FX, a blockchain-based foreign exchange service that is also built on Ripple technology.
Notably, these early first forays into the blockchain space have fostered something unexpected among these major competitors: collaboration, especially through industry efforts like Hyperledger and the Enterprise Ethereum Alliance. “I remember how different people from different institutions tried to start talking about the common work in this moment,” says BBVA’s Carlos Kuchkovsky, CTO of new digital business, of the early days of those groups.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Controlling The Ledger: The World's Largest Financial Firms Embrace BlockchainWhy would some of the world's largest, most centralized and most powerful institutions want to embrace a technology that was designed to unseat them?
Lire la suite »
World's Largest Business Organization Embraces BlockchainOne of the largest, business organizations in the world wants to show it still has what it takes to create a world of borderless commerce, this time with technology first made popular by bitcoin.
Lire la suite »
Trump attorneys warn accounting firm not to hand over financial recordsDonald Trump’s attorneys are warning of potential legal action if an accounting firm turns over a decade of the president’s financial records to the House Oversight and Reform Committee
Lire la suite »
House Democrats to subpoena accounting firm for Trump’s financial recordsHouse Oversight Chairman Elijah E. Cummings on Friday notified panel members of his intention after the company refused to hand over Trump’s financial documents.
Lire la suite »
Stratolaunch, the world's largest airplane and built to launch rockets, takes first flightAviation has a new number one in size, as a one-of-a-kind airplane completed its first test flight on Saturday morning.
Lire la suite »
Graff Unveils World's Largest Square Emerald Cut Diamond At 302.37 CaratsThe record-breaking gem is one of 67 diamonds that the luxury jeweler created from the 1,109-carat Lesedi La Rona rough diamond, the largest gem-quality diamond discovered in more than 100 years and the second-largest in history
Lire la suite »
The world's largest democratic exercise gets underway in IndiaIn the world's largest democratic exercise, voters in 18 Indian states and two Union Territories are casting ballots on the first day of a seven-phase election, staggered over 6 weeks in the country of 1.3 billion people.
Lire la suite »
Analysis | What’s at stake in the world’s largest electionNarendra Modi is seeking reelection in a vote with far-reaching implications for India's democracy and economy.
Lire la suite »