The Big Mistakes Enterprises Are Making on Blockchain

The Big Mistakes Enterprises Are Making on Blockchain

Arno Laeven is a strategy and innovation consultant at Laeven Consult, and the former blockchain lead for global healthcare giant Philips. In this CoinDesk opinion piece, Laeven takes aim at the way incumbents and large corporates have so far sought to implement blockchain, arguing that they need to think bigger to maximize the benefits of the technology. Let’s just get it out there: using blockchain in an enterprise environment is like trying to fit a square peg in a round hole. It’s no surprise then, that enterprise blockchain experiments have often resulted in strange and disappointing results. All of this is part of the growing pains of a new technology, one in which the first projects are run by enthusiasts and aren’t part of the discussion...

Swift Reveals Future Global Payment Tech – Blockchain Not Included

Swift Reveals Future Global Payment Tech – Blockchain Not Included

After months of testing, Swift, the interbank payments platform that connects 11,000 global banks, has formally launched the system it believes will be the future of its cross-border payments services. And notably absent was any integration with blockchain or distributed ledger technology. As part of the formal rollout, Swift (or the Society for Worldwide Interbank Financial Telecommunication) revealed that 12 of the world’s largest banks have been conducting real-time transactions via its Global Payments Innovation (GPI) project for some months. Although Swift plans to continue its experiments with blockchain for other applications, GPI program director Wim Raymaekers told CoinDesk that its cross-border payments solution demonstrates the efficiencies...

Post-Trade Giant NSD: Blockchain 'Useless' If Not Legally Binding

Post-Trade Giant NSD: Blockchain 'Useless' If Not Legally Binding

After nearly two years of experimenting with blockchain, the National Settlement Depository (NSD), Russia’s central securities depository, believes it now knows what incumbents must do to reap benefits from the tech. The largest securities depository in Russia, the NSD has found that there are only a few cases where blockchain solutions can provide benefits over centralized alternatives, and that there are two criteria it uses for determining a ‘good’ distributed ledger use case. According to the NSD’s director of innovation, Artem Duvanov, the first is that blockchains should only be used to record legally binding information. “Blockchain is useless if it stores information that has no legal consequences,” he told CoinDesk in...

Forex Giants Trading Bitcoin? In Japan That Might Be Months Away

Forex Giants Trading Bitcoin? In Japan That Might Be Months Away

“It’s going to be a big game changer. It’s made way for all these big institutions.” Makoto Takemiya doesn’t have to go far to find someone who agrees that Japan’s financial giants will soon start to push startups out of the country’s cryptocurrency market. In fact, the CEO of blockchain identity startup Soramitsu is sitting across from Mike Kayamori, the CEO of bitcoin exchange Quoine, who is already shifting his company from the consumer market for this reason. Go Takahashi, HAW International’s director, and Hitoshi Kakizawa, Deloitte Japan’s head of blockchain, agree, asserting that when new legislation becomes law later this year, Japan’s blockchain market will see a radical change. In spite of their...

Yes Bank Launches Yes Fintech Accelerator

Yes Bank Launches Yes Fintech Accelerator

Yes Bank, a progressive Indian bank has partnered with leading names in the country’s startup ecosystem to launch a fintech and business accelerator. The accelerator program, Yes Fintech is powered by T-Hub startup engine, Anthill Ventures, and LetsTalkPayments. The 15-week program is distributed among two facilities, one in Mumbai and another in Hyderabad. Designed for banking and fintech startups, the key focus areas of the program include Payments, Lending, Governance, Trade Finance, Capital Markets, Customer Value Added Services, Enterprise Banking Software, Forex and Treasury and Governance, Risk and Compliance. The selected teams for Yes Fintech accelerator program will get an opportunity to create their product and service offering by utilizing the...