Blockchain has appeared to be in the limelight of multiple financial companies within the past year. This digital public database is redefining what is possible within the fintech ecosystem and beyond.
Final round increased the total sum of investment to $60 million.
Don Duet states that blockchain can disrupt the existing financial system.
Only 14% of those interrogated predicted that banks can suffer from financial technology disruption.
Thus R3 project has just grown up to 42 members – the world’s largest and most influential banks.
The blockchain holds huge promise for the future of the financial industry, with the world’s leading organizations developing solutions based on the bitcoin technology.
Goldman Sachs has developed a new cryptocurrency using the blockchain technology.
Even though investments in Bitcoin startups have recently decelerated, financial institutions like American Express are still getting more interested in the potential of BItcoin.
Nine of the world’s major banks, such as JP Morgan, Goldman Sachs and Barclays, are expected to adopt the blockchain technology in an attempt to broaden its use in the financial services sector.