Sentences with phrase «technology by banking institutions»

Recent R&D investments in blockchain technology by banking institutions such as Goldman Sachs, J.P. Morgan, and Citi signals the impact that comments such as those above by Mr. Dimon are having on the larger financial space.

Not exact matches

Although interest in blockchain technology is on an exponential rise, with bank investment expected to reach $ 400 million by 2019, widespread adoption by financial institutions will only occur if the blockchain system or distributed ledger is enterprise - grade.

In contrast to other prominent banking institutions, some of which are interested in exploring other use cases for the blockchain, Carstens did not appear impressed by technologies related to digital assets: «In practice, central bank experiments show that DLT - based systems are very expensive to run, and slower and much less efficient to operate on conventional payment and settlement systems.»

In the past, raising money as a start - up required small companies to convince banks, investors and financial institutions to take big risks, by investing large amounts of money into unproven technology and ideals.

Banco Bilbao Vizcaya Argentaria (BBVA), one of the largest financial market institutions in Spain, has become the very first bank to issue a corporate loan with the help of blockchain technology, according to a report published on April 25 by Financial Times.

As technology continues to advance, it is likely additional services will be offered by modern banks blurring the lines even more between the multitude of financial institutions.

It may be early days in Canada for fintechs, a catchphrase for new innovative financial technology startups, and major technology companies that are challenging traditional financial institutions on their turf by offering cheaper and easier - to - use Internet - or smartphone - based services such as payment apps or peer - to - peer lending or digital currencies, but Canada's Big Six banks are paying heed even though they appear to be on solid ground.

The virtual digital currencies backed by the Blockchain Technology have turned out to be one of the best sources of investment and have been posing a huge challenge to the traditional banking systems and institutions.

Bitcoin was developed with the aim to provide financial independence to people and is backed by the Blockchain technology - a platform that doesn't rely on banks, governments or any other institutions.

Today, governments and financial institutions recognize that the blockchain technology behind Bitcoin can offer huge cost savings, efficiency, and operational benefits to financial systems — distributed ledger technology could save banks $ 15 billion - $ 20 billion per annum by 2022 according to a recent Santander Innoventures report — but it's in the nature of power to oppose what it can't control.

And finally, while bitcoin keeps being criticised and regarded with suspicion by governmental and financial institutions, many of them, especially banks, are increasingly interested in the blockchain technology.

CoinFox: And finally, while bitcoin keeps being criticised and regarded with suspicion by governmental and financial institutions, many of them, especially banks, are increasingly interested in the blockchain technology.

All member fees are collected by Primechain Technologies to develop blockchain technologies for member banks to lower overhead costs, process transactions more quickly, provide the security of the banking system, use specialized and highly optimized permissioned blockchains to facilitate information sharing among the banking institutions that are members of the network» explained Rohas Nagpal, Chief Blockchain Architect at Primechain Technologies.

R3 has spent months working with Wall Street financial institutions on the technology, a process that included hosting industry roundtables and assisting on internal investigations by banks.

IT Project Manager — Professional Highlights Serve multinational corporations in a variety of technology based strategic planning and administration roles Offer expertise as a consultant, programmer, engineer, business analyst, and database administrator Lead technology projects for NASA, U.S. Customs, American Express, and General Electric Design and implement reporting, customer service, marketing, sales, and financial management software Responsible for network and database design, administration, and security Oversee enterprise - wide hardware and software upgrades resulting in increased efficiency Minimize operational and manpower costs through effective technology solutions Serve as forecast budget analyst for Joint Project Management Operations at Kennedy Space Center Develop reporting application tool using crystal reports engine on CD throughout Kennedy Space Center and Cape Canaveral Air Station resulting in $ 500,000 savings on user licensing fees Create detailed project plan with well - defined tasks, milestones, client sign - offs, test cycles, and specifications which served to communicate project progress to management Develop visual basic application for financial banking Institution using crystal reports to reduce the company's response time resulting in initial reporting from 2 - 3 hours to just 45 seconds Oversee multimillion - dollar software implementation for Miami Air from a consultancy level Upgrade Great Plains software platform and administered security access for Miami internal databases Write over 200 SQL stored procedures from access databases for financial institutions Compose business correspondence and prepared statistical spreadsheet analysis for Kennedy Space Center Recognized by colleagues and superiors for outstanding job performance, reliability, and efficiency Conduct surveys of operations to assess needs and identify high priority improvements Complete major product releases meeting very aggressive schedules and budgets Serve as a member of the International Cyber Threat Task Force Utilize fluencies in English, Portuguese, Arabic, French, and German to communicate with a diverse clientele Continually study emerging technologies and industry best practices Perform all duties with positivity, professionalism, and integrity