You may be forgiven if you think that Central Bank Digital Currencies are the boring cousin of bitcoin. Yet CBDCs made more news this week than the ups and downs of king of crypto—and perhaps because of them. Bitcoin was designed to address “the risk that fiat currency is debased in the future by excessive supply”—printing money—and “the clunky nature of the modern payments … [Read more...] about National Currencies Go Digital
New Charter Law Could Make Illinois a Crypto Leader
Illinois FinTechs may soon have a new opportunity to provide safekeeping of digital assets such as cryptocurrencies, in a move that would make the state only the second in the nation to offer this authority to applying companies. A new charter for these “special purpose trust” companies got one step closer to passage through the state legislature Tuesday, with the Illinois … [Read more...] about New Charter Law Could Make Illinois a Crypto Leader
Digital Asset Legitimation Announcements Continue
Three facts led to the selection of this week's FinTech theme: 1 Bitcoin prices hovered near $60,000 this week, up from a $50,000 mark only a few weeks ago. 2 Hester Peirce, who won the moniker "crypto mom" for her support of pragmatic regulation of cryptocurrencies, will continue as a Securities and Exchange Commissioner for another five years. 3 Several of the … [Read more...] about Digital Asset Legitimation Announcements Continue
Blockchain Adoption Accelerates Across Finance
Adoption of blockchain technology continues to accelerate into 2021, driven in part by cryptocurrencies like bitcoin, but increasingly by investments across a wide range of financial services for a variety of use cases. According to the recently released Blockchain Technology Market Size report from Grandview Research, the blockchain market was valued at $3.67 billion for … [Read more...] about Blockchain Adoption Accelerates Across Finance
NFTs: Ugly Term for Beautiful Returns?
If the technical term "nonfungible token" was selected to describe how the art market meets FinTech as a way of catching attention, then it has succeeded mightily. It begs the inevitable questions: What the heck is that? Why would anyone buy that? The New York Times took that approach in its 03/12/2021 story on the largest sale of digital-asset token as art: "What Are NFTs, … [Read more...] about NFTs: Ugly Term for Beautiful Returns?
How Can Banks Achieve Hyperautomation?
As financial institutions continue the push for digital transformation, the need to build efficiencies through automation is only growing – and the push into that next phase, what some are starting to call hyperautomation, is a big part of that. The concept is relatively simple: it’s the end goal of digital transformation, that point at which transactions have been automated … [Read more...] about How Can Banks Achieve Hyperautomation?