Central banks look to the future of money with blockchain technology trial
At last week’s fintech festival in Singapore, two announcements illustrate the speed at which the world of digital currencies is moving and how the future of money is set to be reshaped by the forces of technology. First, the Monetary Authority of Singapore – which organised the event attended by 11,000 delegates from 50 countries – said it would trial its own digital currency for interbank payments using blockchain technology. Second, consulting firm PwC unveiled a new platform, called Vulcan Digital Asset Services, to provide banks and governments with confidence to explore cryptocurrencies after they were sent scurrying from bitcoin when it became apparent it was funding part of the […]
Capgemini launches global fintech initiative
Consulting and technology giant Capgemini has launched a global initiative that will fast-track fintech engagements with its financial services clients around the world. Capgemini’s fintech initiative will bring together its domain and integration expertise to scan, select, and evolve innovation for its clients, through an intense curation and collaboration process. The project extends beyond the traditional incubator concept to encompass connection, curation, incubation and investment stages, Capgemini said. It also aims to address one of the biggest challenges in integrating external innovation by bridging gaps in adoption, including tech integration, data management, process changes, and compliance and regulatory requirements. “Be it generating exceptional customer experience or improving operational efficiencies, fintech […]
Here’s why Trump’s win boosted Bitcoin
As Trump’s electoral victory became clear, global markets plunged into volatility. Dow Jones stock futures dropped by 3.8% in premarket trading, S&P futures by 3% overnight, and Nasdaq futures by almost 5%. All major European indices dropped by 2%, on average. The price of bitcoin, however, surged around 4% to reach highs of $738.33 overnight. The cryptocurrency saw similar gains in June after the Brexit vote, suggesting that investors are increasingly turning to bitcoin in times of political and economic uncertainty. There are a number of reasons why bitcoin proves attractive in these circumstances: It’s an alternative asset. Alternative assets are non-traditional assets — other examples include precious metals and […]
