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.”
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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.
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Crypto firms may not remain banking pariahs forever
Senate, Federal Reserve express interest in crypto banking regulations; financial institutions’ patents say they are also interested
When it comes to getting a bank account, cryptocurrency and blockchain firms are being treated like marijuana sellers. That may not be a bad thing.
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Must-reads for August 29, 2018: Surveys, stolen hotel data, faked trades, and more
Here are the crypto stories you should be watching today
The rise of crypto in higher education (Coinbase) It’s a slow news week for the crypto space so this survey is getting a lot of press. Here’s the stat they keep talking about: “42 percent of the world’s top 50 universities now offer at least one course on crypto or blockchain.” That means 21 schools have at least one single class teaching a 9 year-old technology. Of 675 students surveyed, 9 percent said they’ve taken a cryptocurrency course, 18 percent said they’ve owned crypto at some point, and 26 percent said they want to take a crypto course. Did we mention this is a slow news week? Data of…
