Major bank CEOs say blockchain will underpin the financial industry in five years
"Major bank CEOs say blockchain will underpin the financial industry in five years"
in the news Major bank CEOs say blockchain will underpin the financial industry in five years? What this all about..... See below. ------------------------------ Sentiment Trader has been getting involved with blockchain, but this technology could soon revolutionize the global banking industry, according to the chief executives of two major European lenders. Banks have invested millions in developing blockchain applications in recent years, as part of a broader industry effort to try to cut costs and simplify their back-office processes. The technology, which is perhaps better known as the software powering cryptocurrencies such as bitcoin, was initially treated with skepticism by international lenders. However, the use of blockchain in the banking industry is increasingly viewed as a proficient way of reducing the risk of fraud, with some banks now hailing its potential. "So, if you look at blockchain… I think the banks are really working on this now because the potential is so huge and if the top five, six global banks would put their minds to it and agree on a standard, you could force (that) standard onto the globe," Ralph Hamers, chief executive of ING Group, told CNBC'S Arjun Kharpal at the Money 2020 fintech conference in Amsterdam on Monday.
"And I think that you can actually then get to a timeframe of five or six years in which this will work," he added. 'Huge promise' Rather than a centralized system, blockchain allows multiple parties to have simultaneous access to a constantly updated ledger that cannot be changed. That makes cheating the system by faking documents, transactions or any types of information, nearly impossible. "We believe there is huge promise in blockchain. It is early times in this technology but it can bring about more efficient processes," When asked whether he was as optimistic as ING's Hamers in predicting that blockchain technology could be rolled out throughout the industry over the next five years, Torres Vila replied: "I am, I think it does have that promise and I think that timeframe should be about right… but we will see how it develops." CLICK HERE - To Get Our Daily Charts & VIP Updates
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A floating Pacific island is in the works with its own government cryptocurrency and 300 houses - A floating Pacific island is in the works with its own government cryptocurrency and 300 houses
"A floating Pacific island is in the works with its own government cryptocurrency and 300 houses - A floating Pacific island is in the works with its own government cryptocurrency and 300 houses
in the news A floating Pacific island is in the works with its own government cryptocurrency and 300 houses - A floating Pacific island is in the works with its own government cryptocurrency and 300 houses? What this all about..... See below. ------------------------------
If you're struggling to do business or just live under your country's administration, a movement of philanthropists, academics and investors is working on a very sci-fi alternative. Nathalie Mezza-Garcia is a political scientist turned "seavangelesse" — her term for an evangelist in favor of living off the grid — and on the ocean. Mezza-Garcia spoke with Matthew Taylor about what she sees as the trouble with governments, and why she believes tech startups should head to Tahiti. This seavangelesse is a researcher for the Blue Frontiers and Seasteading Institute's highly-anticipated Floating Island Project. The project is a pilot program in partnership with the government of French Polynesia, which will see 300 homes built on an island that runs under its own governance, using a cryptocurrency called Varyon. "Once we can see how this first island works, we will have a proof of concept to plan for islands to house climate refugees," she said. The project is funded through philanthropic donations via the Seasteading Institute and Blue Frontiers, which sells tokens of the cryptocurrency Varyon. The pilot island is expected to be completed by 2022 and cost up to $50 million. "There is significance to this project being trialed in the Polynesian Islands. This is the region where land is resting on coral and will disappear with rising sea levels," Mezza-Garcia said. As well as offering a home for the displaced, the self-contained islands are designed to function as business centers that are beyond the influence of government regulation. "This means there is stability, outside of fluctuating geopolitical influences, trade issues and currency fluctuations — it's the perfect incubator," she said. It's also an attractive alternative, Mezza-Garcia said, for those disenchanted by the government of the day. Have a look at the picture of the island. This is quite interesting.
It's an unapologetically libertarian concept: Governments under the Floating Island scheme would exist only as service providers, according to Mezza Garcia, and the "floating communities" could self-govern. "If you don't want to live under a particular government," she said, "people will be able to just take their house and float away to another island." In what Mezza-Garcia describes as the "long term," she envisions hundreds of new countries in the ocean.
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Understand the Blockchain in Two Minutes - Understand the Blockchain in Two Minutes
"Understand the Blockchain in Two Minutes - Understand the Blockchain in Two Minutes"
What this all about..... See below. ------------------------------ Sentiment Trader over the last 12 month has become very crazed by the crypto currency arena. So much so, our clients are making a killing in this ..... You can get our DAILY UPDATES HERE ==> CLICK HERE FOR FREE 30 day trial! Anyway, while we continue to do very well and show our clients how they can make a killing in this space, we thought today would be a good time to show you what, this whole cryptocurrency thing is, and what blockchain is. We see rapid an massive growth coming to this space in the next 24 months, so you might want to sit up and take notice. The video only goes for a few minutes, but it totally gives you a better overall perspective on what BITCOIN, BLOCKCHAIN and what is coming in this new tech driven world. We call it the world of the distributors, and its causing some massive waves. Watch the video below and keep an open mind. This is quite interesting.
is crypto a scam - is crypto a scam? What this all about..... See below. ------------------------------ Sentiment Trader told ==> our VIP MEMBERS here <== a few things about crypto lately, because lots of our students, really want to get invovled. Now might not be the best time, but you need to read this article here....BY LITECOIN BULL. ==> CLICK to read the article below.
Our Members here => VIP members here know that there is a time coming when cryptos might go mainstream, sure it could take years, but it might be a good time to learn how you can profit from this trend coming.
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This high school dropout who invested in bitcoin at $12 is now a millionaire at 18
"This high school dropout who invested in bitcoin at $12 is now a millionaire at 18"
in the news This high school dropout who invested in bitcoin at $12 is now a millionaire at 18? What this all about..... See below.. ------------------------------
erik finman
Erik Finman made a bet with his parents that if he turned 18 and was a millionaire, they wouldn't force him to go to college. Thanks to his savvy investments in bitcoin and the current all-time high valuation, he won't have to get his degree. "I can proudly say I made it, and I'm not going to college," Finman said. He currently owns 403 bitcoins, which at the current $2,700 a coin puts his bitcoin value at $1.09 million. He also has smaller investments in other cryptocurrencies, including litecoin and ethereum. Bitcoin is very volatile, and the value could decline rapidly. A technical analyst told us he believes bitcoin will only go up to $2,800 before the value recedes, while others think it may reach $100,000 in a decade.
Finman thinks its best days are still ahead. "Personally I think bitcoin is going to be worth a couple hundred thousand to a million dollars a coin," he said. Bitcoin and the blockchain technology it is built on allow people to cut out the middleman, Finman explained. For example, an open source blockchain ride-share platform would allow users to power the service on their phones using peer-to-peer technology without a central hub. It would allow the drivers to get more money by cutting overhead costs, he added. It could also create the next evolution of the internet, one which wouldn't be reliant on servers. The first time, he turned $1,000 into $100,000 Finman began investing in bitcoin in May 2011 at the age of 12, thanks to a $1,000 gift from his grandmother and a tip from his brother Scott. Though he's close with his family — which he calls the "Elon Musk version of the Kardashians" — growing up in "small town" Idaho outside of Coeur d'Alene wasn't easy. Finman was especially frustrated with his high school teachers, and begged his parents to let him drop out at 15. "(High school) was pretty low quality," he said. "I had these teachers that were all kind of negative. One teacher told me to drop out and work at McDonald's because that was all I would amount to for the rest of my life. I guess I did the dropout part." Surprisingly, his parents — who met pursuing their Ph.D.s at Stanford — agreed. Finman sold his first bitcoin investments at the end of 2013, when they were valued at $1,200 a piece. With the $100,000 Finman launched an online education company called Botangle in early 2014 that would allow frustrated students like him to find teachers over video chat. He also used the funds to move to Silicon Valley, did some fun things like meet Reddit co-founder Alexis Ohanian and traveled. "I really liked Colombia," he said. "It was fun, but a little sketchy. Some interesting stuff happened. I was held up at gunpoint there, which is pretty scary, but I have this emergency button I programmed in Android that puts you on speaker but turns off audio automatically and dials [a local emergency number]." "Maybe I'll turn that into an app," he added. "It's handy."
It was hard getting people to take a 15-year-old tech entrepreneur seriously, Finman admitted. He recalled being called in to interview with a "really, really high-up" unnamed Uber executive, who instead of listening to his Botangle pitch discouraged him and told him he would never win the bet with his parents. Eventually he found a buyer for Botangle's technology in January 2015. The investor offered either $100,000 or 300 bitcoin, which had dropped in value at that time to a little more than $200 a coin. He took the lower cash value bitcoin deal because he believed it was "the next big thing." "My parents asked 'Why don't you take the more cash?"' Finman explained. "But I thought of it more of an investment." Since then, Finman has been managing his family and his own bitcoin investments. He's also kept busy on other projects, including working with NASA to launch a rocket through the ELaNa project. One thing he won't do is go back to school. "I never got my GED, and I don't see the value in it," Finman said. "The purpose of that would be to get another education level and get a job. I had to learn through running a business. Instead of writing essays for English class, I had to write emails to important people." Although the rest of his family has degrees — his brother Scott went to Johns Hopkins at 16 and now has an enterprise software company, while his other brother Ross went to Carnegie Melon at 16 for robotics and is now pursuing his Ph.D. at MIT — he's happy learning about the real world from experience. "The way the education system is structured now, I wouldn't recommend it," Finman said. "It doesn't work for anyone. I would recommend the internet, which is all free. You can learn a million times more off YouTube and Wikipedia..
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