Sentences with phrase «using traditional financial institutions»

According to Winters - who is the president of Global Tax Accountants, LLC, and a chair of the Wall Street Blockchain Alliance tax and accounting committee - laundering money with cryptocurrency like bitcoin is much less efficient than using traditional financial institutions.

Not exact matches

While the pace of change is exciting for innovators and market makers, it causes enormous friction for traditional institutions who control financial services today, as well as for regulators who are grappling with rules that were not meant to govern financial transactions using the latest technologies.

Blockchain technologies can be used as a store of value, in trading and payment transactions, and to transfer and move money either domestically or international at a faster speed and a lower cost than the traditional financial institution or intermediary is able to — just to name a few use cases.

However, the ripple network has encouraged interesting partnerships with traditional financial institutions such as UBS, American Express, and Santander as the ripple network has the potential to be used practically in foreign exchange situations.

There is the permission list — bitcoin, Ethereum, public blockchains — and then there is a whole other ecosystem where established financial institutions, kind of the traditional market if you want to think about it that way, is trying to apply this technology but in a different way using private networks where you don't need the same trust because these banks will know each other.

By using technology to simplify the investment process we're able to reduce the overhead costs that traditional financial institutions typically have.

This, in turn, may allow traditional financial institutions to use ICOs as a financial technology alternative to IPOs.

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.

Far too often, the media and traditional financial institutions love to paint Bitcoin and other cryptocurrencies as being commonly used by criminals.

This trade represents a milestone of sorts for blockchain technology, as traditional financial institutions look to incorporate cryptocurrency's underlying technology for their own uses — before digital currencies like Bitcoin undermine their status.

For quite some time now, people have feared how traditional financial institutions will use the concept of Bitcoin to create a centralized currency.

Additionally, American TV broadcaster Max Keiser says that one of the reasons behind Bitcoin's price surge is because it is the perfect alternative to traditional financial systems that are used by banks and other financial institutions.

Unlike most other cryptocurrencies which have systemically moved away from traditional banking, Ripple uses the blockchain technology to redefine how traditional banks and other financial institutions transfer money.