Ex Barclays’ Chief: Fintech Will Significantly Disrupt Banking Sector

The former Group CEO of Barclays, Anthony Jenkins, predicts a future within the next ten years wherein financial technology or fintech will substantially disrupt traditional banking systems and the banking industry as a whole. He is convinced banking installations and those employed in banking institutions will be reduced by at least 20% in the coming ten years, if not up to as much as 50%. Anthony Jenkins, former CEO of one of Barclays, the UK’s second biggest bank in assets after HSBC has predicted an “Uber-like” disruption from the Fintech …

Swift Institute: Problems And Progress Regulating Cryptocurrencies

As cryptocurrencies have expanded as a medium of exchange, governments worldwide have struggled with how best to regulate them. While one of the draws of cryptocurrencies is that they are less regulated than traditional currencies, problems associated with these currencies (such as financial crimes and terrorist financing) have encouraged governments to develop regulations. A recent report by the SWIFT Institute summarizes regulatory initiatives to date and identifies some of the problems that governments encounter in attempting to regulate cryptocurrencies. The 77-page paper, titled “The Evolution of Third Party Payment Providers …

Bitcoin Price Surge Hits $360

Bitcoin price continued advance today in a strong surge that hit $360. At the time of writing price is drawing back as the market comes to terms with the day’s price action. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis Time of analysis: 14h00 UTC OKCoin 3Mth 1-Hour Chart From the analysis pages of xbt.social, earlier today: Price pushed higher in a manner that …

Bitcoin-Friendly NextBank Receives $1.4 Million, Calls Off Crowdfunding Campaign

NextBank, which bills itself as the first bitcoin-friendly bank and is slated to open in 2016, announced that it has received $1.4 million for 4% of the company from two venture capitalists in Europe and has called off its crowdfunding campaign. Crowdfunding investors can choose to be minority investors or have their contributions refunded. CCN reported last month that NextBank received $0.95 million in private venture capital and was accepting early registrations. The new investment brings the total investment $2.35 million USD. The company will continue to …

Newsflash: Bitcoin Price Leaps $40 to Touch $369 Today

Having broken out of a wedge pattern, Bitcoin price quickly gained momentum and galloped to hit a high of $369 today. The Bitstamp Price Index started the day at $328.90 and quickly rose through the morning to peak at $367.44 at 12:40 UTC today, November 26. The figure represents a two-week high with Bitcoin price last seen at the $350 mark on November 10, with Bitcoin price hitting a monthly low of $300.30 the next day. Bitcoin price struck a high of $502 this month with multiple …

Bittunes Looks To Bitcoin To Transform Music Industry

Bittunes has a simple approach to how the blockchain can transform the music industry. While other music oriented startups in the field remain very focused on technology driven solutions, Bittunes wants to initially focus on the problem: the way the music industry is today. “We have tried from the beginning to keep things as simple as possible,” Bittunes managing director Simon Edhouse tells CCN. “This has been for a number of reasons. Ultimately we believe the challenge for adoption of ‘new to market’ systems like this is not so much …

Bitcoin Black Friday On Track For Record Spending In Fourth Year

Looking for some good holiday shopping deals using bitcoin? This Friday will mark the biggest single day of spending for bitcoin merchants when Bitcoin Black Friday returns for the fourth straight year. More than 150 online merchants will offer discounts offered exclusively to bitcoin users. Shoppers will be able to buy all of their holiday gifts in bitcoin. Bitcoin Evangelist Jon Holmquist launched the event in 2012 and with the help of various businesses and bitcoin investors. The bitcoin community grew it into the event it is today. Discounted items …

Global Economic Outlook: Why Is The Fed Raising Interest Rates?

Market expectations of a December Fed rates hike are running high (at the time of writing the US Dollar Index had just breached 100 points). The question about why there is a need for higher interest rates is missing from the market and media discourse, so today’s Global Economic Outlook considers the reasons for this central bank action. This post is powered by the Bitcoin Trading Network xbt.social – CCN29 and get 29USD off! Economic Indicators World Indexes and Forex Rates   Commodities In the Calendar This Week Mon …

Malicious Hacker Tries to Extort Bank for $3 Million in Bitcoin

An unknown malicious hacker has successfully breached a Sharjah, UAE-based bank of its customer statements and records. Over the past few days, the hacker has released the confidential data via social media after the bank refused to give in to the hacker’s extortion. A cybercriminal who goes by the alias ‘Hacker Buba’ (yes, really) has – for the past week – held a bank in Sharjah, UAE to ransom. The hacker blackmailed the bank to pay a ransom in Bitcoin and the failure to do so will lead to the …

Bitcoin Price Breaks Out

Bitcoin price has broken out of a consolidative wedge pattern and the upside is wide open if price can maintain momentum. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis Time of analysis: 15h00 UTC BTCC 1-Hour Chart From the analysis pages of xbt.social, earlier today: Two trendlines (blue) that had contained price during the past few weeks have been breached – to the upside …