Credit to Author: Lucas Mearian| Date: Mon, 15 Apr 2019 03:00:00 -0700
In two separate announcements last week, Google and Linux’s Hyperledger project launched tools aimed at enabling secure identity management for enterprises via mobile and other devices.
Google unveiled five upgrades to its BeyondCorp cloud enterprise security service that enables identity and access management for employees, corporate partners, and customers.
Credit to Author: Lucas Mearian| Date: Fri, 29 Mar 2019 03:00:00 -0700
Apple’s Monday announcement of a credit card – the Apple Card – represented a natural progression of the company’s journey into financial services that began with the Apple Wallet app and its contactless digital payment service, Apple Pay.
AppleThe Apple Card, as described by the company this week, will offer users some attractive features: up to 3% cash back on daily purchases, no late or international transaction fees, and a physical chipped card make of titanium (sans any credit card numbers – just your name and an Apple symbol).
Credit to Author: Lucas Mearian| Date: Mon, 25 Mar 2019 03:00:00 -0700
As more blockchain-based payment networks and fiat-backed digital currencies – including one from the largest U.S. bank – emerge, experts and analysts are predicting a sea change for the financial services industry.
“I think you’re starting to see a growing consensus,” said Matt Savare, a partner who works in the technology group of New Jersey-based law firm of Lowenstein Sandler LLP. “I do quite a bit of FinTech and I can tell you my clients… the banks, are inherently conservative – at least the large ones. But once they see other banks adopt new technologies, you see it snowball. Other banks will often join on in pretty quick fashion.”
Credit to Author: Lucas Mearian| Date: Mon, 25 Mar 2019 03:00:00 -0700
As more blockchain-based payment networks and fiat-backed digital currencies – including one from the largest U.S. bank – emerge, experts and analysts are predicting a sea change for the financial services industry.
“I think you’re starting to see a growing consensus,” said Matt Savare, a partner who works in the technology group of New Jersey-based law firm of Lowenstein Sandler LLP. “I do quite a bit of FinTech and I can tell you my clients… the banks, are inherently conservative – at least the large ones. But once they see other banks adopt new technologies, you see it snowball. Other banks will often join on in pretty quick fashion.”
Credit to Author: Lucas Mearian| Date: Fri, 15 Feb 2019 03:00:00 -0800
IT leaders who’ve taken the plunge into blockchain are mainly deploying it in proofs-of-concept tests to address the same problems a conventional database could handle, according to research firm Gartner.
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Credit to Author: Lucas Mearian| Date: Tue, 29 Jan 2019 16:13:00 -0800
Blockchain, which began to emerge as a real-world tech option in 2016 and 2017, is poised to change IT in much the same way open-source software did a quarter century ago. And in the same way Linux took more than a decade to become a cornerstone in modern application development, Blockchain will likely take years to become a lower cost, more efficient way to share information and data between open and private business networks.
Based on a distributed, peer-to-peer (P2P) topology, blockchain or distributed ledger technology (DLT) allows data to be stored globally on thousands of servers – while letting anyone on the network see everyone else’s entries in real-time. That makes it difficult for one user to gain control of, or game, the network.
Credit to Author: Lucas Mearian| Date: Mon, 28 Jan 2019 03:00:00 -0800
As blockchains are being rolled out in an increasing number of pilot programs for everything from cross-border financial transactions to supply chain management, one persistent issue remains: a lack of scalability.
As more computers join the peer-to-peer network, the efficiency of the whole system typically degrades.
Scalability has already been identified as an issue with cryptocurrencies such as bitcoin and Ethereum’s Ether. If a distributed ledger is to achieve adoption by financial technology (FinTech) companies and compete with payment networks hundreds of times faster, it must find a way to boost scalability and throughput and address latency problems.
Credit to Author: Lucas Mearian| Date: Thu, 17 Jan 2019 03:00:00 -0800
A start-up firm claims its highly efficient distributed ledger protocol can address all the major problems facing blockchain networks, including being able to scale for global financial business by executing up to eight million transactions per second (TPS).
The new blockchain protocol, called Devv, was unveiled and demonstrated at CES in Las Vegas last week.
If the claims prove true, Devv would be able to compete with traditional financial networks in terms of scalability, be far less expensive to use and would address fraud, theft and privacy issues. Like many blockchain protocols, Devv is not just a peer-to-peer (P2P) database technology but also a digital currency or cryptocurrency called Devcash.