Goldman Sachs Finally Recognizes the Power of Blockchain Technology

Source From https://cointelegraph.com/news/goldman-sachs-finally-recognizes-the-power-of-blockchain-technology

Leading investment banking institution Goldman Sachs set up a microsite dedicated to explaining benefits of Blockchain technology.

In the most recent initiative to promote its acceptance of Blockchain technology, one of leading US investment banking institutions, Goldman Sachs, has set up a microsite dedicated to explaining the benefits of Blockchain technology. 

It was then followed by a tweet on July 1 which clearly sends a message of the banking giant finally embracing the same technology that powers Bitcoin

The page was created for the purpose of giving people an idea of how Blockchain technology is used and how cryptocurrencies like Bitcoin run on these programs.

One of their key messages include Blockchain technology’s security feature:

Blockchain is designed to store information in a way that makes it virtually impossible to add, remove or change data without being detected by other users.

Goldman Sachs on Blockchain-based projects

Although the financial sector has not really been very keen on cryptocurrencies for quite a long time, Goldman Sachs has been involved in some Blockchain technology based companies like Circle and even Digital Asset Holdings.

While the banking giant has been helping startups such as these, it is just now that they have formally announced their acceptance of Blockchain technology.

Blockchain's future in finance sector

Despite its price volatility, there is no doubt that Blockchain technology is making waves in various industries, including finance.

In fact, a report by Accenture shows the cost data of eight of the world’s largest investment banks states that Blockchain technology could help reduce the costs of investment banks by as much as $12 bln per annum by the time 2025 comes.

This is a big thing for investment banks because not only will this new technology help make the transaction of data safer and more secure, but it will also help drive the costs down.

The foray of mainstream banking, financial and technology giants into the cryptocurrency sector showcases the promising future of Blockchain technology and its applications in various industry segments.

The initial wave was caused due to the increasing threat to conventional banking methods by Bitcoin, which could execute cross-border transactions much faster at a much cheaper rate while staying decentralized the whole time.

Now, with the capabilities of cryptocurrency technology well-known, could its widespread implementation will be expected in the next 3-4 years?

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TradeBlock Now Powering Cumberland OTC Trading Operations

Source From https://research.tradeblock.com/tradeblock-now-powering-cumberland-otc-trading-operations/

May 23, 2016 (New York) – TradeBlock now serves as the order management system and execution tool set for Cumberland Mining, an affiliate of principal trading firm DRW. Cumberland is a leading provider of liquidity in bitcoin and ether digital currency markets. The growth of institutional digital currency trading has driven demand for a variety of products and services over…

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2017’s Best Bitcoin Wallets for your Android Mobile Device Reviewed

Source From https://99bitcoins.com/best-4-bitcoin-wallets-android-mobile-review/

The post 2017’s Best Bitcoin Wallets for your Android Mobile Device Reviewed appeared first on 99 Bitcoins.

If you’re looking to store your first Bitcoins and you own an Android mobile device this post is for you. However, before I review the best Android Bitcoin wallets out there I just want to give you a word of warning. Mobile wallets (Android, or iOS) are the least secure form of Bitcoin wallets. This […]

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