• A useful map of Southeast Asia, in case one were to get lost (via Shutterstock).
    Asia & Australia

    Central banks across Southeast Asia are embracing blockchain

    Serving the unbanked and leapfrogging inefficient interbank and international settlement systems are a major focus

    Financial authorities across Southeast Asia are embracing blockchain technology and digital currencies as a way of helping the poor get better access to banking services that can help lift them out of poverty, as well as speeding and improving interbank payments and cross-border settlements.

  • Igor Pejic, author of "Blockchain Babel" (publicity photo).
    Technology

    In ‘Blockchain Babel,’ a warning for banks and FinTechs

    Igor Pejic’s new books sees blockchain bringing misunderstanding, opportunities, and looming threats to the financial sector

    If there’s one theory at the heart of Igor Pejic’s new book, “Blockchain Babel: The Crypto Craze and the Challenge to Business,” it is that when it comes to using blockchain technology to remake the banking business, neither the financial institutions looking to maintain their dominance nor the FinTech firms trying to topple them understand each other, or how much they need each other.

  • Screen shot of Mastercard CEO Ajaypal Banga on CNBC, March 29, 2019.
    Technology

    Mastercard, Bank of America CEOs leery of blockchain

    While still interested the distributed ledger technology, the finance leaders called blockchain’s use case unproven

    The CEOs of Mastercard and Wells Fargo echoed skeptical comments on the utility of blockchain technology made earlier this week by Bank of America’s head of technology. Speaking to CNBC on March 28, Wells Fargo CEO Tim Sloan said that while ignoring blockchain would be a “bad idea,” the technology has been “way oversold.” Mastercard CEO Ajaypal Banga added that blockchain technology has “interesting possibilities,” but said that “the business model is not proven.”

  • Bank of America's logo (via Wiki Commons).
    Technology

    Bank of America’s chief of operations and technology is bearish on blockchain

    Cathy Bessant doesn’t see the use case for distributed ledger technology, but new research predicts blockchain investment growing to $41 billion over six years

    Despite overseeing technology at the bank with more blockchain patents than any other, Bank of America’s Chief Operations and Technology Officer Cathy Bessant is “bearish” on the technology, she told CNBC on March 26.