Bank of America's (BofA) tech and operations chief, Cathy Bessant, has expressed skepticism on the benefits of blockchain, despite the bank having received or applied for 82 patents for the technology, the most among financial institutions (FIs), per CNBC.
US-based multinational technology company, Cisco recently published a report that features the scenario of the business-oriented blockchain platform. In the report, Cisco predicted that by 2027 the blockchain could “hold” up to 10% of global GDP. It means mass adoption is about to begin.
“For Americans, the blockchain is a technology or a philosophical practice. But for Chinese, the blockchain is an opportunity for China to change lanes and surpass competitors,” China’s largest news portal Sina.com made this statement in a headline in its financial section.
UAE Banks Federation, UBF, and Abu Dhabi Global Market, ADGM, have hosted a joint forum on FinTech and crypto assets, bringing together industry specialists to discuss how these compelling trends are shaping the global financial services sector, and the challenges and opportunities they present.
Loom Network (LOOM), a blockchain-based ecosystem for developing online games and social media apps, has announced that it will be supporting Binance Coin (BNB) as a payment method.
Spanish stock market operator Bolsas y Mercados Españoles (BME) and Renta 4 Banco have carried out their first test for the digitisation of the certification process of collateral pledge using blockchain.