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Articles by Greg Nilson
Orchestration: the key for banks to capitalize on digital assets
The IPO of Coinbase earlier this year was a moment of great symbolism. The listing of the world’s largest cryptocurrency exchange is another manifestation of crypto going mainstream. But it also underlines the disruption blowing through financial services.
Litecoin and Walmart
The anthology of a fake. Litecoin's price skyrockets by 36% in 20 minutes and goes back down. On Monday, the web was discombobulated when reports emerged that Walmart, one of the largest retailers in the world, was allegedly about to start accepting Litecoin as payment. The news was shared by major media outlets such as CNBC and Reuters. Within 20 minutes, Litecoin's price rose by 36%, from $175 to $238. This climb also positively impacted other cryptocurrencies.
Is DeFi the silver bullet to help struggling SMEs secure easier access to finance?
2021 has been a remarkable year for the entrepreneurs pioneering the growth of Decentralised Finance (DeFi). While traditional banks have exhibited the same kind of suspicion that they direct at cryptocurrency, DeFi-powered platforms like Maker, Compound and Aave have grown rapidly as investors pile onboard. .
Technology holds the key to driving greater sustainability in global trade
Whether environmental, social or economic, the sustainability challenges at the heart of trade often seem insurmountable in this global, sprawling industry. Recent research suggests 92% of CEOs believe the integration of sustainability will be important to the future success of businesses – but only 48% say they are actually implementing sustainability into operations.
DeFi Leads The Way For Brands To Fight Against Counterfeit Products
Image Credit: Unsplash Today, online purchases are no more a symbol of luxury. They are a norm, courtesy of the extensive reach of the internet and the growth of e-commerce. Also, brands are leveraging the internet to sell their products and services to a wider audience. As the internet is turning into a fulcrum for businesses to revolve around, there is one critical hurdle — counterfeiting. And this hurdle is spelling doom for brands who are losing their most valuable asset — their reputation.
Is Cryptocurrency here to stay?
The development of currency is directly connected with the use of new technologies and the introduction of innovations. The digital development of financial technology invariably leads to the development of cryptocurrencies. Many financial technologies, previously perceived with skepticism, are fundamental to the smooth functioning of the financial system and contribute to stability at critical times.
eKYC: Unlocking the value in Hong Kong’s financial space
Traditional banks, insurers, and financial service providers in Hong Kong are jumping on board with fintech adoption, with a Hong Kong Monetary Authority (HKMA) study showing 86 per cent of incumbents are currently adopting fintech technologies. These financial institutions have succeeded to varying degrees in digitalising their businesses. Yet, many of their customer on-boarding and Know Your Customer (KYC) procedures remain archaically manual, lengthy and costly.
Will Regulation Spell the End of Cryptocurrencies?
It has been a turbulent few months for cryptocurrency investors. Elon Musk’s hot and cold relationship with Bitcoin has caused massive fluctuations in its value, as he highlights environmental concerns regarding the energy usage of cryptocurrency mining. China has gone one step further, banning cryptocurrency mining as well as clamping down on trading as it seeks to pave the way for its own central bank backed Chinese digital currency.
5 Credit Score Maintenance Tips for Business Owners
For entrepreneurs, maintaining a good credit score comes down to adopting the right habits. Here’s what you can do to improve the credit score of your business, or at least prevent it from going down. 1 - Bill payments Paying bills late will have a direct impact on the credit score of your business. If you have enough cash flow, it’s wise to set out auto payments so your bills will always be paid on time.
4 Simple Steps To Monitor Your Finances In 2021
Let’s admit it – 2020 was a year that gave us all headaches in terms of our finances. Across the globe, the COVID pandemic had a severe impact on the world’s economies.
The Impact of the Coronavirus on Mortgage Refinancings
Many markets were hit hard by the Coronavirus pandemic. The effects are still manifesting in some areas, and it will take some time to fully understand the implications of what has happened during those couple of years. And as many people have found themselves hit hard by the situation, it’s become crucial to take a long, hard look at the way we carry ourselves in the financial market, and to reevaluate our approach to certain things.
The US Republican Party will start accepting cryptocurrency donations
According to the political news site, Axios, the National Republican Congressional Committee (NRCC) — the principal fundraiser for the US Republican Party — is to start accepting Bitcoin and cryptocurrency donations. The NRCC itself will not be holding the cryptocurrency but will be converting it into dollars via an exchanger. But the FEC has expressed its concern on cryptocurrency principles of anonymity could clash with current political regulations on donation transparency and disclosure.
For the first time in the world, Bitcoin has become the official currency
El Salvador is the smallest country in Central America by area, it is washed over by the Pacific Ocean and often called the land of lakes and volcanoes. An otherwise unremarkable nation went down in history by taking an unprecedented step and adopting bitcoin as legal tender, as announced by President Nayib Bukele on Twitter. The law was passed by the Salvadoran Congress, with 62 members out of 84 votes in favor of the decision.
Millennials Are Driving Digital Assets Adoption Forwards
Millennials are especially interested in digital assets and are keen to learn more about them, according to Mastercard. 40 per cent of people are planning to use digital assets in the coming year, according to Mastercard's New Payments Index. In particular, 67 percent of millennials said they were more likely to use digital assets now compared to a year ago.
The Whole World Changing and Being Digitalized
Being associated only with Bitcoin just 5 years ago, the word “cryptocurrency” had not been known to anyone 12 years ago. In 2021 there are around 2300 varieties of digital currencies. This payment method is steadily moving towards offline and is set to become a full-fledged means of payment alongside fiat currencies. Crypto finances were initially conceived as a democratic and open type of payments, providing an alternative for centralized financial systems.
How Mining Bitcoin will Change the Energy Sector
Despite bitcoin existing only within the digital world, a gigantic physical operation called 'mining' is happening behind the scenes. How mining works is explained extensively here but simply put, miners are mining for a lucky number and upon finding that number are rewarded freshly minted bitcoin for their work. The mining operation involves a network of computers working together to not only find these lucky numbers but also to secure the network.
Quantum Computing: A Good Investment for Banks
Artificial intelligence, blockchain and robotics will continue to gain in importance. For the next growth cycle, however, we will need a lot more computing capacity. Computers with conventional transistor technology are reaching their limits. New ideas are needed. 100 years ago, the Russian economist Nikolai Kondratieff divided the economy into 40- to 60-year business cycles.
What to expect after Bitcoin price stops nosediving
At one point on Wednesday, May 19, Bitcoin plunged 30% to near the $30,000 mark (a new low since February) before climbing back 8%. Altcoins suffered even bigger losses. Ethereum price crashed 46% on May 19 as it dipped from $3,441 to $1,850 (a day earlier, the 15% fall stopped at $2.9k). Just a day ago, Binance was trading at $432 — more than 37% below its all-time high of almost $700. May 16 can be considered the starting point of active digital asset quotes’ decline.
Bursting the Britcoin bubble: why consumers won’t bother with a UK CBDC
Chancellor Rishi Sunak recently announced that Bank of England and Treasury officials would set up a new task force to review the potential benefits of a UK Central Bank Digital Currency (CBDC) – a so-called ‘Britcoin’. The news came just days after cryptocurrency exchange platform Coinbase listed on the New York Stock Exchange in a $76bn IPO. Many viewed the listing as a long-awaited legitimisation of crypto, and the timing was not uncoincidental.
The real opportunity WallStreetBets is missing beyond the Robinhood saga
The dust has settled on the GameStop saga, and so has the stock price. Noise about Robinhood's questionable trading restrictions is calling into question the feasibility of current market infrastructure in our new, digitally connected world. The redditors came and saw, but they didn't conquer in their valiant mission to "beat the hedge funds." A significant blow, however, was dealt to the GameStop (GME) short seller Melvin Capital, who was blindsided by the socially-driven price rally.
How banks can take advantage of Open Banking to increase customer retention
Open Banking now has three million active users in the UK as of January 2021 according to the Open Banking Implementation Entity. However, since PDS2 came into force, the big transformation that was expected has not come to fruition. The directive paved the way for data sharing from multiple accounts from different providers, helping people with financial tasks such as budgeting by having a complete overview of their spending in one place.
A new impulse. Why may Bitcoin cost USD 100K already this year?
Over the past three months, the main cryptocurrency has tripled in price. Experts have named the conditions under which it would grow twice more this year. On the night of March 18, the Bitcoin price again approached the $60K mark. The first cryptocurrency began to actively grow in price after it had broken the $20K mark in December last year. The value of the cryptocurrency has tripled in three months.
4 ways to improve financial fitness
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BubbleNomics
BUBBLENOMICS BubbleNomics, it’s new, it’s exciting, it’s a failure? The world has really changed. It has been a year since the COVID-19 Pandemic has infected the globe. Everything has been touched and everyone has been impacted. There is a distinct change in our daily family life, our jobs, and our communities. As of March 2021, globally there has been 115 million cases and 2.5 million deaths. While the loss of people is staggering, the most overarching impact has been on the economies of the world.
Ubisoft and Square Enix, their quest for success in the blockchain
Nowadays, companies need to diversify their approaches to get the consumer’s time and attention and this goes for the financial services companies also. A new concept has been introduced to keep that consumer attention which is called gamification which is leveraging specific gameplay principles like designing elements and making it accessible to everyone. Financial institutions are keeping an eye on it and through it moving to the Fintech sector.
How is AI revolutionizing FX market in a way we didn’t even realize
The foreign exchange or forex market is the biggest financial market in the world. It is even bigger than the stock market. Moreover, the forex market continues to grow, and one major reason for this is the use of the latest technologies, including artificial intelligence. In fact, it wouldn’t be wrong to say that AI is revolutionizing forex trading.
Crypto Exchanges-A Change from Everything We Knew
Dear Friends, Are crypto exchanges a global or local phenomenon? And how should investors evaluate them? I decided to pursue this question because crypto exchanges are bending the usual conventions around venture capital investing. First, it is very difficult to draw a comparison with traditional exchanges and brokerages. These are mostly local. Of course in recent times, bourses have collaborated, thanks to technology. But the concept of the physical border still exists.
1 mln USD price and the replacement of the dollar. The brightest forecasts of Bitcoin
After the correction, the flagship digital coin continues to recover in price and at 13:30 traded at $55.1K. On February 28, the price of Bitcoin fell to a local low of $43.5K. This happened after the cryptocurrency reached a historic high at $58.3K on February 21. Volatility in quotations are accompanied by various statements of media personalities about Bitcoin.
Open Finance - improving consumer credit
The consumer credit industry is arguably more open to change and innovation than most across financial services, and therefore a beacon of opportunity for Open Finance. 15 million people in the UK do not have access to affordable credit, creating huge disparities in financial inclusion. Credit risk assessments can unintentionally disadvantage people based on background, ethnicity and gender. To many, credit scores are opaque, confusing concepts that are hard to improve.
It is too Early to Talk about the End of the Correction
The value of the main digital coin again stormed the mark of $52K, although on Sunday it dropped to $43K. What news was the reason that the value of the cryptocurrency fell and recovered, and how much it can grow in the near future. On Wednesday, March 3, Bitcoin quotes on the Binance crypto exchange again approached the mark of $52K. At the peak, price reached $51.7K, as of 14: 00 Moscow time, the first cryptocurrency is trading at $51.4K, over the past day it has risen by 6%.
Blockchain Technology Challenges: new third-generation solutions
Notwithstanding the various benefits of blockchain technology, there are still a number of big challenges to overcome before mass adoption can be realised. These range from low scalability to lack of regulation and limited number of qualified people. In some of my previous blocks I already went into more detail into these challenges and possible solutions to overcome them.
Are banks preparing to board the Bitcoin bandwagon?
Compliance is a word that often crops up in discussions around Bitcoin, though it generally takes a backseat to terms like ‘bounce’, ‘pump’ and ‘moon.’ Those who hold the cryptocurrency – and those who delightedly document its thrilling price movements – generally focus on its speculative appeal. But despite huge institutional inflows from the likes of MicroStrategy and Tesla in recent months, there remains an unsettled question: who regulates Bitcoin?
Is It Too Late to Invest in Bitcoin?
In February 2011, Bitcoin cost $1. 10 years has passed and BTC is $51,000. Having spent $100 to buy Bitcoins back then, you would have $5,100,000 today. This could be considered one of the best investments of the 21st century, unattainable for the stock market and other assets. After such a shocking takeoff, most people consider the lost profit and regret that "the train left". But professional participants in the financial markets may think differently.
5 Digital, Blockchain, Crypto and Blockchain predictions for 2021
At the start of January 2020 I made top 5 predictions in the digital, crypto and blockchain space and evaluated how these had played out at the start of January 2020. The results were very accurate. I try to repeat that feat my key predictions for 2021: Capital markets accelerate the move from analogue to digital I expect some very interesting developments in the digital asset custody and exchange space following on from 2020 activity.
How Backtesting Can Change Your Entire Trading Strategy
While backtesting often gets ignored by beginner traders, it’s a very viable approach that can produce unexpected results when applied correctly. Of course, it’s not a magic wand that can automatically solve all problems you’re having in your current trading situation, but it can significantly improve your chances for the future.
There is no reason to sell. What will happen to Bitcoin and Ethereum?
During the past week, the price of Ethereum has increased by 45%, Bitcoin - by almost 20%. Let's try to answer one of the main questions of traders and investors — what to do with assets now, will they continue to rise in price or will the correction begin? On the night of Tuesday, January 5, the price of Bitcoin on the Binance crypto exchange exceeded $32.8 K, now it is $31.2 K. Over the past day, the cryptocurrency has risen in price by 6%, during a week - by almost 20%.
Why Continuing Professional Development is Key For Financial Servic...
People often see Continuing Professional Development as a way to get more from their employees. But what they often overlook is how important it is to employee retention. One study in particular found that professional development seems to be an issue dear to the heart of millennial workers specifically.
The Best Investment Plans to Consider in 2019
Investing is important for growing your assets and expanding your financial capabilities, but unfortunately, far too many people have a very poor understanding of how investing works as a whole, and what the appropriate practices in the field are. It’s important to familiarize yourself with the most attractive investment plans available before jumping in, as you’ll want to maximize your chances with regards to how much effort you’re putting into this.
RegTech, DLT and the evolution of smart payments
European financial institutions are facing an ever-evolving set of regulations aimed at maintaining stability, competition, and innovation in the digital economy. As a result, regulatory compliance increasingly necessitates a significant investment of resources toward updating internal processes and IT systems. This can have the effect of limiting the resources spent in other areas that generate bank revenue.
Blockchain and Supply Chain: It's More than Anti-Counterfeit
A growing number of posts and articles describe how blockchain impacts supply chain operations. This is all but good news for a technology that was doomed to be the exclusive domain of cryptocurrencies. I note, however, that the overarching message that blockchain serves supply chain management operations to avoid counterfeiting or food sophistication is rather limiting. Certainly correct, but limiting.
Why Bitcoin is going to be fine?
Next year, several key events will occur in the digital money market that can seriously affect the situation in the industry. In 2018, the cost of cryptocurrency is continuously decreasing. Bitcoin has already fallen in price by 80% from $20,000 to $4,000. The total capitalization of the blockchain industry has decreased by 84%: it was $830 billion in January, and by the end of November this rate fell to $130 billion.
Using travel to establish a brand at the heart of a customer’s affections
The travel industry is bracing itself for a rough ride this year as uncertainties around Brexit are impacting consumer confidence. Euromonitor International has predicted that Brexit could drastically affect the number of outbound holidays booked over the next three years and increase staycations. With travel habits changing, could this have a knock on effect with the services that banks offer their customers?
Secure Messaging for Financial Institutions
Social messaging apps are very common these days and we can't imagine any communications without Whatsapp, Facebook messenger, Wechat, Telegram, Facetime, or similar. Gone are the days when SMS was the mode of messaging and BBM (remember Blackberry Messenger) was the only secured channel available for corporations to rely on for business communications.
Empowering the CHRO with Digital and Data capabilities
The modern workplace is undergoing tremendous change. In what is being referred to as the Fourth Industrial Revolution, automation is quickly replacing jobs involving repetitive tasks.
You might have missed it: Bitcoin at 15,000 USD and the market’s disappointment in ICO
Fundstrat chief analyst Tom Lee lowered his bitcoin forecast by the end of the year, a major Swiss stock exchange will launch a cryptocurrency ETP, Poland will impose a 19% cryptocurrency tax and other news of the last two days. At the weekend, the situation in the digital money market remained virtually unchanged, but several events occurred at once that could have affected the fact that today Bitcoin updated the annual minimum and is now trading at $4,624 on FXOpen.
Money Marketing: How banks and fintechs are using tech and communications to boost brand
Marketing a new business is difficult whatever the service or product you're trying to supply. Making your voice heard in noisy marketplaces and prying customers away from established brands is a first hurdle many well-meaning enterprises never overcome. Imagine then how hard it is when your new business provides a service which involves the handling of people's personal finances. To say the challenge is intensified, is somewhat of an understatement.
How Blockchain Could Shape the Development of Accounting
Accounting is a constantly evolving field, as it’s closely tied to the world of finances, a field that itself sees constant evolution and active pushes through technological advancements. It’s not rare to see new technologies having a significant impact on the way accounting works and sometimes transforming the field permanently, and at this point, it’s clear that blockchain could very well end up being one of those forces of transformation.
How to get free cryptocurrency. Blockchain will distribute USD 125 million
E-wallet developer will distribute about 484 million Stellar tokens between its customers. Cryptocurrency wallet developer Blockchain and startup Stellar are going to carry out the largest distribution of cryptocurrency in history. About 484 million tokens with a total value of $ 125 million will be distributed among the company's customers. According to representatives of Blockchain, already this week all users who will leave requests on a special page will receive tokens.
An Open Letter To Sallie Krawcheck, And All Women In FinTech Everywhere
My name is Miriam Ballesteros, a 29-year-old from Barcelona who never really considered herself much of an advocate for women until starting to work in FinTech. I was first introduced to you by Asya Bradley and Sara Koslinska at Money2020. They mentioned you, and what you bring to the table through Ellevest: a platform that aims to serve female investors’ needs by considering women’s incomes and life cycles.
Mutual Funds - Being Risk Averse
Risk comes from not knowing what you’re doing – Warren Buffet Traditionally, we have seen people investing mostly in FDs and other lumpsum conservative instruments. Now a days, we do realize that this is not going to beat inflation in long term and consequently result in effectively lowering the purchasing power than gaining anything out of it. Most of us would have noticed the rise in awareness campaigns of mutual funds investing.
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