Battle of the blockchains

To believers, open, public blockchains provide a second chance at building a digital economy. The fact that the applications built on top of such blockchains all work with each other, and that the information they store is visible to all, harks back to the idealism of the internet’s early architects, before most users embraced the walled gardens offered by the tech giants. The idea that a new kind of “decentralised” digital economy might be possible has been bolstered over the past year as the numerous applications being built on top of various blockchains have boomed in size and functionality.

Read the full article from The Economist HERE.

CBDCs: Here's what every central bank in the world is working on

Have you ever needed a comprehensive list of where each Central Bank is at with their respective Central Bank Digital Currency?

Well, here it is. A recent article, posted by Madhvi Mavadiya (Head of Content at Finextra) will be periodically updated to provide the most recent CBDC developments across 80+ central banks, so bookmark it and use it as a reference tool.

You can access the article HERE. 

On the Brink of Disaster or Start of a Golden Age?

From Bitcoin to DeFi (in 12 Short Years)...

Even if you’ve been living under a rock, you’re probably familiar with Bitcoin. Now, just as crypto disrupted the concept of value, decentralized finance is poised to disrupt finance itself. The populist movement promises huge returns for daring investors. But with DeFi’s promise of inclusion comes risk and uncertainty.

Is there something in this or are people that gullible or just plain stupid?

So the question is - is this the start of a new Golden Age or are we on the edge of Disaster? You be the judge.

5G Service Launches Amid Flight-Safety Uncertainty

Airlines canceled some flights before a new 5G wireless service rolled out, even after Verizon and AT&T agreed to limit the signal around U.S. airports. The FAA says the service could affect airplane safety systems, a claim the wireless industry refutes.

What Trends Are Going To Transform Business Banking in 2022 and Beyond?

Financial institutions are especially vulnerable to losing small-to-medium sized businesses to fintech entrants.

SMBs have typically been underserved when it comes to tech innovation or new digital services. More than six in ten businesses in this large segment go outside their primary bank for business services such as payments and receivables.

An innovation revolution is roiling business banking just as it has consumer banking.

When it comes to sleek new tech and shiny new digital products and features, much of the innovation has long been focused on the consumer side of banking. Business banking, meanwhile, remains stuck in neutral, saddled with legacy tech and processes, many of which are still largely paper-based.

But banks that can ramp up their game when it comes to business banking services stand a good chance of getting a leg up on competitors and driving revenue. Individuals that use business banking services are, after all, consumers as well, and increasingly they are demanding the same type of innovation they get in their consumer lives from their business banking relationship.

So, what trends are going to transform business banking in 2022 and beyond that?

Find out by reading the report from The Financial Brand HERE. 

How to keep innovation moving

Managing the risks and rewards of emerging technologies is a tricky balancing act. How is it possible to maximise the upsides of innovation while minimizing the potential downsides? Read more here: https://econ.st/327bXxU

Data Security - Five Common Mistakes

Even before the pandemic, data breaches were a common occurrence, with prominent companies suffering attacks that were regularly reported and analyzed. They have continued to surge, and data security is at the top of every organization’s mind. 

Due to the changing threat landscape as a result of a hybrid-remote working model that has created a wider attack surface, threat actors are increasingly successful in gaining access to sensitive data, and organizations are still struggling to implement adequate data security practices to avoid breach. 

Many of these organizations still tend to make critical mistakes with regards to data security that, if left unaddressed, can lead to drastic consequences for the entire business.

Check out the five common mistakes we all make HERE.

Common Mistakes When Addressing Data Security