The tech giants are coming for the banks. If there’s one message to be taken out of Facebook’s aggressive push into blockchain-based payments via its new cryptocurrency, libra, it’s that Facebook is now also a FinTech company.
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In $40 million Bitcoin heist, thieves used Binance’s security system to steal
The exchange was hacked after its two-factor authentication system designed to strengthen passwords were compromised
Two-factor authentication is supposed to be the gold standard in privacy and protection of Internet data, but in Tuesday’s $40 million dollar heist from the top cryptocurrency exchange, it seems to have been the method thieves used to break into user accounts.
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Forbes 50 list of top companies using blockchain released
Only three “pure” blockchain companies made the list of the $1 billion-plus firms
Forbes on Tuesday announced its inaugural Forbes 50 list of large companies leading the way in developing and using blockchain technology. The list has a notable lack of “pure” blockchain firms. In fact, there are just three—blockchain hardware and software maker Bitfury, cryptocurrency exchange Coinbase, and financial blockchain developer Ripple.
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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.
