Colleagues, two of the greatest
value propositions Blockchain offers the established financial and banking
system is faster transaction speed accompanied by lower OPEX. This is
especially appealing for trans-border payments. IBM’s
World Wire joins the ranks of RippleNet, Ant
Financial and GMO in this enticing market niche. The key players will likely tout
their systems at the up-coming Sibos fintech conference in Australia this October. These systems are
based upon on model integrated into a bank’s existing systems, fiat currency is
exchanged into a digital asset at bank A which in turn is transferred to
bank B where it is converted back into a second fiat currency. Sounds
attractive, indeed. Bottom line: There are three critical success factors
needed for this process to be commercially viable. They have speed and can
reduce OPEX, but with what level of security … which is the Achilles heel of
all Blockchains in the banking sector and beyond. We will closely monitor the
aforementioned vendor’s system and report this fall. Send us your thoughts today! Lawrence – Cryptocurrency
Academy (https://cryptocurrencyacademy.blogspot.com/)
Our mission is to provide Training and Certification programs to enable Cryptocurrency, Blockchain and FinTech traders and investors worldwide to achieve their career goals.
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