For some time it seemed rather academic or nerdy to think about Bitcoin scaling. Who cares whether Bitcoin will scale if it is only used by a few people for nefarious activities? The scaling challenge is real but with all the tech brains and money committed to solving it, Bitcoin will meet the scaling challenge so that it can go mainstream if consumers want it. There is constant talk about Internet scaling challenges. The Internet looks like one of those systems that should not work in theory but works well in practice – meaning that the theory is wrong. Decentralized, loosely coupled systems are hard to understand but seem to work well. The Bitcoin Blockchain maybe the same.
Integrated Loyalty: How Uber and Capital One Embedded Loyalty into the Customer Experience
By JP Nicols
It’s become well-worn trope in fintech punditry to declare such and such an app or company as the “Uber of banking”, presumably meaning both that it’s a seamless customer and payment experience, and also something with massive growth potential. This on-demand seamless delivery is raising the bar for customer expectations in banking, and so is the Uber payment experience. To me the best part of the Uber payment experience is that there isn’t one. I don’t want a payment experience, I want a ride from point A to point B. It’s a great example of the “disappearance of payments”.
InsurTech CEOs Believe There Has To Be A Better Way
By FinTech Roundup
The cultural differences between decades-old brands and startups and, perhaps more than anything else, the pace at which the two operate create difficulties in these working relationships. For big companies with hundreds of staff the process of digital transformation, while more cost-effective in the long run, can be painful. One of the key forces driving these changes is the increased access to rich data sources and open access to artificial intelligent algorithm that can crunch through that data to offer more personalised services, explained to consumers. Another field of technology that will impact the future of insurance is the smart home and insurers’ ability to process and make use of the vast amount of data the devices can collect.;p>
Goldman Sachs Drops Out of R3 Blockchain Group
By Kim S. Nash
Founding member leaves as cooperative seeks equity investors. Goldman Sachs Group Inc. has dropped out of the R3 CEV LLC blockchain group. The investment bank was one of nine original members of R3, founded in 2014 to explore the use of the distributed database technology in Wall Street infrastructure. The technology, best known for underpinning the system that trades the virtual currency bitcoin, has garnered increasing attention as a way banks can save billions of dollars and make old-fashioned processes faster and more efficient.