J.P. Morgan Chase CEO Jamie Dimon declared Bitcoin dead at the Fortune Global Forum in San Fransisco yesterday.
Michaela Juric, aka Bitcoin Babe, an Australian based Bitcoin trader, has seen one of her bank accounts abruptly shut down after selling around $10000 of Bitcoin, on claims of fraud from the bank.
Let’s take a look with four reasons why banks will fail in building viable internal blockchains.
Bitcoin price and market value have been less than volatile for the majority of 2015, but a Bitcoin bull market run has been started in China recently.
More big consultancy groups noticed a major shift in technology trends starting in financial and spreading to other sectors as they do not want to be left behind.
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2015 is turning out to be the Year of The Blockchain, as the business world, particularly the banking industry, has seen the light of this advanced technology.
The Central Bank of Nigeria has banned the use of Naira denominated ATM cards abroad. Could this mean an explosion for the Bitcoin market in the country?
At the United Overseas Bank (UOB) 80th anniversary dinner, Lee Hsien Loong, Prime Minister of Singapore, commented that Bitcoin and blockchain technology are going to change the banking industry.
Central Bank of Nigeria prohibits the acceptance of foreign currency cash deposits by Deposit Money Banks.
Three more banks have announced joining the Distributed Ledger Group (DLG) and R3 Blockchain consortium that include Mizuho Bank, UniCredit and Nordea.
Inconsistent policies surrounding fiat in Nigeria has caused panic. It seems the perfect opportunity for Bitcoin startups in Africa.
National Australia Bank and the Commonwealth Bank of Australia will be taking part in a joint project led by global financial innovation firm R3
Australia, one of the world’s biggest and most promising Bitcoin markets, has seen a major drop in Bitcoin demand due to a coordinated attack by the banking system against Bitcoin exchanges
Banks may start applying blockchain technology to scoring in 2016. That is the forecast of the 4th largest search engine worldwide company Yandex.
Five banks in Russia have undergone a DDoS-attack according to Artyom Sychev, Deputy Director of the General Directorate of Security and Information Protection of Russia’s Central Bank.
Central Bank of Kenya has warned public against Bitcoin and other virtual currencies citing its non legal tender and no regulated status.
The WEF was dedicated to the Fourth Industrial Revolution and FinTech. The World’s financial and banking giants again shared their attitude to Bitcoin and Blockchain technology.
The National Bank of Ukraine has issued a warning to the country’s regional banks, global financial institutions and its executives regarding the financial risks involved in the use of digital currencies like bitcoin.
The latest study from Accenture shows that only 6% of board directors and just 3% of CEOs of the world’s biggest banks have any technology experience, reports Business Wire.
There has been several policy changes and reversals within the Nigerian financial services sector over a short period of time. Could Bitcoin and the Blockchain have saved the sector?
Reserve Bank of India explores the Blockchain as a solution to cash use and deep-rooted tax avoidance.
Stringent Know Your Customer (KYC) norms and tedious opening account procedures have made opening a bank account in the US more difficult than buying a gun. Could Bitcoin fill the void for a universally accessible bank account?
ICICI Bank, India’s largest private bank, will focus on Blockchain technology to make its services more secure and create a more robust experience for its customers.
A bank accepting Bitcoin is unusual but one has just sprung up. Digital bank WB21 says it will be using BitPay’s Bitcoin payment processor for its addition of Bitcoin as a method for its over 650,000 customers.
The largest bank in Japan has confirmed that it is testing its digital currency using the Blockchain technology.
Aiming at accelerating innovation and developing a unified payment services sector, the European Commission has adopted the Payment Services Directive (PSD2), which is expected to bring vital changes.
With increasing adoption of internet-banking and mobile-banking, an extensive network of branches is no longer necessary for banks. Are bank branches headed for extinction?
Banks know Blockchain is a threat to the linchpin of their economics: the customer relationship, and the $1.7 trillion they made in 2014 from global payments revenue which is a massive 40% of their annual profits.
A London company has come out with a card and a mobile app that allows customers to scan all their debit and credit cards and then use each one for separate purchases with the one card.
In its quarterly, the IMF examines how Bitcoin and its blockchain technology may end up helping banks, despite being created to help avoid them.
Can the European Central Bank become a decentralized autonomous organization?
Our society is moving faster and faster towards its cashless future, paradoxically at the same time losing trust in traditional banking. Does it mean that we are ready for Bitcoin? Is it time for it to finally enter the official financial scene?
Why does the UK have such a small BTC/GBP trading volume ratio? Bank’s refusal to deal with Bitcoin companies is at the heart of the problem.
British banks have turned down 6 million people access to banking services over the past two years. Bitcoin would allow all those unbanked access to valuable financial services.
A recent survey by The Zimbabwe Standard showed that a number of banks in the central business district of the country’s capital, Harare, had long queues to withdraw cash with others running out of cash by midday.
Seven member banks of the R3 consortium, an association of the world’s leading banks and financial institutions for Blockchain research, have come to a consensus to settle a US$324 million U.S lawsuit.
Mexican drug cartels generate a lot of profit in the USA, which is one of their main markets. How is this money transferred back to Mexico?
Peer-to-peer Bitcoin exchange Wall of Coins expanded functionality to the United Kingdom and Mexico.
Japanese banks are set for embracing Bitcoin after proposed new laws. Has Bitcoin finally come of age in the land of the rising sun?
Bitcoin and banks can work together, according to PrivatBank’s Alexander Vityaz, who sees card companies and cryptocurrency focusing on the technology aspect of transactions, while banks focus on brokerage.
According to BitPay annual report, business-to-business payments have made up over 10% of the transactions the firm processed over the past 12 months.
Leading global companies, from IBM, Intel and Microsoft to Nasdaq and DNB, are adopting new plans to benefit from the blockchain technology through streamlining their processes.
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