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.
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.
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.
In the wake of JPMorgan’s February launch of its Ethereum-based JPM Coin digital currency, Citi let it be known why it had killed the Citicoin project its innovation lab discussed—but never formally announced—back in 2015.