Blockchain

The Bank of America(BofA) has become the most recent Wall Street institution to integrate blockchain solutions into its systems through the Paxos Settlement Service. This move by the second largest bank in America seeks to attain a same-day settlement of stock trades, thanks to the blockchain technology Paxos provides.  According to Kevin McCarthy, BofA's head of financing and clearing, the fast settlement option with Paxos will start once the bank is cleared to operate as a clearing agency. In 2019,…

As Bitcoin and blockchain gain momentum at the corporate level, Galaxy Digital has released a report on Bitcoin energy consumption. The report describes how the network consumes less energy than traditional financial industries and its value. The report comes days after Tesla CEO Elon Musk, the most significant vocal fan of cryptocurrencies on social media, banned bitcoin as a form of payment for Tesla products. He blamed the use of fossil fuel for bitcoin mining and transactions. The ban came…

Anyone who accidentally sent their cryptocurrency to the wrong address knows that horrible feeling you get in your gut. Unfortunately, taking a loss due to human error is sadly more common than you think in the sector. The technical learning curve and overall censorship-resistant nature of cryptocurrencies mean they're great for many things. However, refunds are not one of those items. The recent surge in the popularity of cryptocurrencies has put the capabilities of these unique financial instruments in the…

The derivatives market is one of the least popular cousins of the decentralized finance family. However, all of that is about to change. New DeFi protocols aiming to make lending derivatives easy and accessible are on the rise. And, they may be enough to give the ugly cousin a makeover. One of these promising protocols is Swivel Finance. Operating on the development of DeFiHedge finance, this decentralized protocol enables secure fixed-rate lending and interest-rate derivatives. Furthermore, it does so without…

Speaking to the Financial Times, Tuchman revealed that Citi is seriously considering launching crypto trading, financing, and custody services. Tuchman mentioned that there are different options from their perspective, and they are considering where they can best serve clients. He added that this would not be a prop-trading effort, referring to trades a bank makes with its own money.  The move will render it the latest Wall Street bank to do so. Earlier, Morgan Stanley announced that it would allow…

The general market cap of 9,541 coins had briefly achieved the $2.3 trillion mark on Monday, according to crypto statistics tracker CoinMarketCap. Ethereum drove the rally marking yet another ATH of nearly $3,550.  The second-largest digital coin attained an all-time high on 6 May after a jump of about 8% in the last 24 hours. The gain in momentum had begun in the first quarter of 2020  as investors’ craze around Bitcoin and other cryptocurrencies continued. In just almost three…

While many people like to consider blockchain as infallible, the truth is much different. Blockchain networks require constant updating to remain secure and functioning properly. The slightest code errors in a smart contract can spell disaster for a blockchain. As you are about to learn, no blockchain is immune. Open-Source It’s impossible to avoid the risk of coding errors completely. However, experts agree that sticking to open-source projects can help protect you. Open source platforms make their coding available to…

Bitclout (Official Website) is a decentralized open-source blockchain social media network. The platform introduces a new business model that creates value based on the creator. This approach is different from Twitter and other platforms that focus on the content as the primary source of monetization. As such, the network has received support from some of the top players in the sector. In the Bitclout ecosystem, every profile is assigned a token. These tokens are designed to appreciate and depreciate based…

Blockchain technology has been around for more than a decade. Still, not all the major organizations in the world have jumped on board. For example, big financial institutions are keeping their distance and waiting for more security features. Many organizations from traditional finance want to operate on the blockchain without disclosing crucial information. Simply put, they want to be visible on public ledgers without having their operations under a huge magnifying glass. Here is where Findora steps in with a…