Posts belonging to Category blockchain



“Due To Popular Demand” Goldman Starts Covering Bitcoin

Bitcoin officially made its way to Wall Street

It’s official: not only has bitcoin officially made its way to Wall Street, but confirming rumors that emerged over the weekend, “hedge” funds – starved of volatility in virtually all other asset classes –  are now not only actively trading the volatile digital currency, but as clients of the vampire squid, have petitioned Goldman’s chief technician, Sheba Jafari to start covering it.

In the report that Goldman released this afternoon ago, Jafaru concludes that “the balance of signals are looking broadly heavy” with the following view: “wary of a near-term top ahead of 3,134. Consider re-establishing bullish exposure between 2,330 and no lower than 1,915.

http://www.zerohedge.com…   Wed.,  14  June 2017

Machine-learning promises to shake Finance

Trading, credit, fraud: machine-learning is in progress

MACHINE-LEARNING is beginning to shake up finance. A subset of artificial intelligence (AI) that excels at finding patterns and making predictions, it used to be the preserve of technology firms. The financial industry has jumped on the bandwagon. To cite just a few examples, “heads of machine-learning” can be found at PwC, a consultancy and auditing firm, at JP Morgan Chase, a large bank, and at Man GLG, a hedge-fund manager. From 2019, anyone seeking to become a “chartered financial analyst”, a sought-after distinction in the industry, will need AI expertise to pass his exams.

Despite the scepticism of many, including, surprisingly, some “quant” hedge funds that specialise in algorithm-based trading, machine-learning is poised to have a big impact. Innovative fintech firms and a few nimble incumbents have started applying the technique to everything from fraud protection to finding new trading strategies—promising to up-end not just the humdrum drudgery of the back-office, but the more glamorous stuff up-front.

http://www.economist.com…  Tue.,  30  May 2017

Icelandic bitcoin mine

Bitcoin is going nuclear

The digital currency is hitting all-time highs, with a single coin going for more than $2,197. It’s an epic bull run that has accelerated in recent months: Just a year ago, it was sitting at just $443. This is great news for bitcoin miners, the people responsible for creating new bitcoins. Their mining infrastructure is the backbone of bitcoin. Anyone who contributes computing power to help process transactions on the network is rewarded with the chance to “mine” bitcoin.

In plain English, in return for helping keep the network up and running, they have the chance of being given a newly created piece of the digital currency. This payout makes the entire process — with the right equipment — incredibly lucrative. It has helped spawned a huge and surreal industry.

You can mine at home, and many people do. But companies dedicated to mining have also sprung up, some worth tens of millions of dollars. These companies build huge data centres, or mines, that consume vast amounts of power and perform insane computations on the hunt for digital gold.

http://www.businessinsider.com…  Thu.,  25  May 2017

TransferWise launches international money transfers via Facebook

Send Money from your FaceBook account 

Money transfer company TransferWise has launched a new service that allows users to send money internationally through Facebook Inc’s chat application, as competition in the digital payments landscape intensifies. The London-based startup said on Tuesday that it had developed a Facebook Messenger “chatbot”, or an automated program that can help users communicate with businesses and carry out tasks such as online purchases. TransferWise’s chatbot enables customers to send money to friends and family to and from the United States, Britain, Canada, Australia and Europe from Facebook Messenger. It can also be used to set up exchange rate alerts.

Facebook already allows its users to send money domestically in the United States via its Messenger app, but has not yet launched similar services internationally. TransferWise said its service will be the first to enable international money transfers entirely within Messenger.

http://www.reuters.com…  Tue.,  21 February 2017

Singapore competes to become a leading financial tech hub

Singapore sees Brexit as chance to recruit London’s FinTech talent

Britain leaving the European Union is opening up an opportunity for Singapore to recruit talent for its ambitious plans to become a leading financial technology hub, said the chief FinTech officer of the city-state’s central bank.

http://ca.reuters.com … Wed.,  16 November 2016

Bloomberg added Bitcoin to its list of safe havens

The world’s biggest bitcoin wallet provider will have a record month thanks to Trump

The world’s biggest bitcoin wallet provider will “pretty easily” have its biggest ever month for activity in November, following a surge in use after Donald Trump’s shock election victory in the US. Peter Smith, the cofounder and CEO of London-based Blockchain, told Business Insider: “We’re setting a new record pretty much every day since the election in terms of activity on the platform. “People are basically hedging against economic instability”.

http://www.businessinsider.com … Mon.,  14 November 2016

Blockchain is now used in international trade

Major banks mark first-ever international trade using blockchain

The first cross-border transaction between banks using multiple blockchain applications has taken place, Commonwealth Bank of Australia and Wells Fargo & Co said on Monday, resulting in a shipment of cotton to China from the United States. Australian cotton trader Brighann Cotton Marketing bought the shipment bound for the port city Qingdao from U.S. division Brighann Cotton in Texas, the companies and their banks said in a joint statement. The blockchain trade, for 88 bales, totaled $35,000, reports Commonwealth Bank.
Blockchain is a web-based transaction-processing and settlement system whose efficiency banks say could slash costs. It creates a “golden record” of any given set of data that is automatically replicated for all parties in a secure network, eliminating any need for third-party verification.
http://www.reuters.com … Mon,  31 October 2016

Blockchain future

Blockchain may not succeed because the world is too ‘tribal’

http://www.businessinsider.com … Fri,  28 October 2016

Traders monitored with a machine learning tool the US uses to find terrorists

How to spot insider trading

Top investment banks like Goldman Sachs and UBS are spotting insider trading and other rule-breaking using a machine learning platform that was first developed to help the US catch terrorists. Digital Reasoning has “more than half the bulge bracket firms using our technology to spot inside behaviours and insider threats,” according to Kiran Narsu, senior vice president of commercial sales at the company.

https://businessinsider.com  Sat., 17 September 2016

The end is approaching for the cash

Emptying the tills

ONLY tourists pay in cash, says the young barista in Espresso House, a Swedish coffee chain, on Vasagatan in Stockholm. “They don’t understand we don’t use that anymore,” she rolls her eyes, gesturing to the card machine. The contactless “taps” that locals use are much faster, and she frequently runs out of change when foreigners bring large-denomination notes, fresh from the ATM.

http://www.economist.com  Fri.,  12 July 2016