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London to go cashless in 20 years as it embraces FinTech
A FinTech based UK could become a cashless society within 20 years according to research published by London & Partners, the Mayor of London’s promotional company, to coincide with London Technology Week 2016. A survey of more than 2,000 consumers shows that 68% believe that cashless technologies will completely replace physical money by 2036. The figure is [...]
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Bank of Canada initiates blockchain technology exploration
The Bank of Canada has revealed it is studying the technology underlying the digital currency bitcoin, conducting one of the first known tests by a major central bank about how it could use the system known as blockchain. The central bank confirmed the experiment dealing in interbank payments in a statement from Senior Deputy Gov. Carolyn [...]
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SWIFT outline path to Distributed Ledger Technology adoption
SWIFT has announced the availability of a new paper investigating how Distributed Ledger Technologies (DLTs) could be used in financial services. Published in collaboration with Accenture, the paper is based on an in-depth technology assessment by SWIFT of DLT usage across financial institutions, highlighting the opportunities as well as the challenges for industry wide adoption. As [...]
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Blockchain in banking: disruptive threat or tool?
Blockchain could have widespread potential to disrupt financial intermediaries. This in-depth Morgan Stanley study suggests several misconceptions and identifies 10 hurdles to overcome to make blockchain a reality in banking. The opportunity is clear but the blue sky is too far off to impact its 2017/18e. The pot of gold? Higher efficiencies. It’s early days, but industry heavyweights are sponsoring a wide range [...]
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Blockchain: short-lived illusion or a real game changer?
Blockchain has traditionally been a subject of mitigated opinions, due to its early association with bitcoin, the cryptocurrency adopted by techies all around the world, and also used on anonymous markets on the web. As the potential of blockchain is slowly being discovered, it is now getting the full attention of the banking and technology industries. [...]
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