• People walk outside of Ria Money Transfer office in Brussels, Belgium on Nov. 10, 2018 (via Shutterstock).
    Technology

    Blockchain must solve last-mile problem to dominate remittance business

    Sending money to relatives in developing countries is growing into a half-trillion-dollar business

    Blockchain-based money transfer services can dominate the international remittance business as it grows into a half-trillion-dollar industry over the next five years. That is the result of a study released Monday by Juniper Research, predicting blockchain technology will revolutionize money transfer if it can solve it’s “last-mile” problem—getting cash to recipients in low and middle-income countries. Those countries currently account for $332 billion in money transfers, much of it sent through traditional firms like Western Union and MoneyGram to unbanked people in third world countries, Juniper said. That will grow to $525 billion by 2024. (The World Bank said that number was much higher, reaching $528 billion in 2018.) According…

  • Crypto hackers often walk around wearing hoodies and holding useless tokens of fake bitcoin around just in case they get photographed (via Pixabay).
    Cryptocurrencies,  Technology

    MIT’s Stuart Madnick says blockchain’s biggest strengths can also be weaknesses

    Poloniex exchange lenders lost $14.4 million to flash crash decentralization made possible

    An MIT professor’s June 6 warning about some of blockchain’s vulnerabilities came too late for margin lenders on U.S. cryptocurrency exchange Poloniex, who lost nearly $14.4 million in bitcoin to a flash crash early last week.

  • World Economic Forum sign sticking out of the snow in Davos. Clearly, the party got wild (via WEF).
    Technology

    World Economic Forum puts blockchain at center of ‘fourth industrial revolution’

    Its new Global Blockchain Council is one of six designed to influence the growth of technologies poised to change the world

    Blockchain is one of the six emerging technologies the World Economic Forum believes will change the world so dramatically that they will be a “fourth industrial revolution.”

  • Uncategorized

    Gartner Survey: 90% of blockchain-based supply chain projects are in trouble

    The lack of well-identified use cases is causing “blockchain fatigue” to set in; caution urged for early adopters

    Ninety percent of blockchain-based supply chain projects are faltering because they cannot figure out important uses for the technology, research firm Gartner said on May 7.