Payments News

On The Web

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Systems

SWIFT Chief Announces Integration With R3 At Paris Fintech Forum

“SWIFT, the global banking payments network, is to begin testing its GPI payments standard through R3’s Corda platform. Speaking on stage at the Paris Fintech Forum this morning, SWIFT CEO Gottfried Leibbrandt said: “Later today we are announcing an integration with R3.” In a follow-up announcement, the firm explained that the “integration” will be a trial that will […]
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Tech

Blockchain adoption tepid and interest in bitcoin waning, say JPMorgan analysts

“The hype surrounding cryptocurrencies and blockchain — the distributed ledger technology that underpins all cryptocurrencies — is a little overblown, with inroads to mainstream finance patchy at best, say analysts at JPMorgan Chase & Co. While advocates tout that most assets can be shifted to a blockchain-type ledger and the technology will improve everything from transparency to supply […]
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Security

Canada urges blockchain on for digital ID dream

““We should be open to innovative identity verification methods like document review through a live video connection, use of blockchain, biometrics and other methods that have begun to see widespread adoption in other parts of the economy,” Parmenter comments. “These methods have the potential to prove a person’s identity more securely and accurately than showing […]
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Domains

Saudi Arabia, UAE Aim to Cut Payments Costs With Common Digital Currency

“The central banks of Saudi Arabia and the United Arab Emirates (UAE) have jointly launched a digital currency trial. The Saudi Arabian Monetary Authority (SAMA) and the Central Bank of the UAE jointly announced Tuesday that the project is aimed to facilitate blockchain-based financial settlements between the two countries. While the central remittance systems in both countries have “evolved […]
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Tech

Tide Foundation Gives Users Control of Personal Data on a Blockchain

“It seems that on a regular basis, we hear about massive data breaches or companies sharing highly personal informationwith third parties without a consumer’s permission or knowledge. The Tide Foundation wants to change that by giving consumers complete control over their personal data on the blockchain by allowing them to manage their own encryption keys. The startup wants to […]
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Tech

A Big Bet on Blockchain and Gaming: Ripple and Forte Announce $100 Million Fund

“The cryptocurrency company Ripple on Tuesday announced an ambitious project to integrate blockchain technology into video games. The plan, which features a $100 million fund for developers, could remake the gaming industry by creating a new way to create in-game marketplaces for digital goods. The fund will be overseen by Forte, a San Francisco company […]
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Tech

Blockchain, Yesterday’s Hype, Transitions Into Something Else

“In MIT Technology Review, Mike Orcutt succinctly summarized the current state of blockchain: “In 2017, blockchain technology was a revolution that was supposed to disrupt the global financial system. In 2018, it was a disappointment. In 2019, it will start to become mundane… After the Great Crypto Bull Run of 2017 and the monumental crash of […]
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Tech

A Blockchain to Connect All Blockchains, Cosmos Is Officially Live

“Cosmos, a highly anticipated blockchain itself designed to improve the interoperability between any number of other blockchains, has officially released a live software. With the mining of its first block at 23:00 UTC, the project has launched Cosmos Hub, the first in a series of proof-of-stake (PoS) blockchains that will be created in the Cosmos ecosystem. At present, users […]

On The Wires

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Tech

CULedger and IBM Announce Collaboration to Deliver Blockchain Services for Financial Cooperatives and Credit Unions Worldwide

“CULedger will work with IBM to use permissioned blockchain technologies to create an immutable audit trail that can be used to create new business models and transform existing business processes for credit unions. The companies also intend to help drive greater financial inclusion by extending reach to a broader range of new members.”