Of course. This system is just for them alias internal system where it's not visible to the public. By using this system, they can perform clearing faster and able to reduce paperwork between them. This is to eliminate middle man such as central bank that act as a central legacy entity, so the regulatory issue is minimal unless the government try t
Singapore has been the most favorite gray country destination for tax evaders and money launderer similar to the Caribbean. The existence of bitcoin and its underlying technology, the public permissionless blockchain caused a stir since it could also render their financial system obsolete. Of course politics are priority in this case. Since they pl
It's true that majority of people want something easy at the palm of their hands. They want a system that can keep their bitcoin securely, can be accessed and friendly to them at any given time without hassle. But like you said, most people do not understand what is wallet and what is address. Web based service only provide a "wallet service" where
Heck, how in the world that this hacker knows how to fool their ATM system without knowing their inside and out. Most likely the system has been hacked before unbeknownst to the bank cyber security team. Besides, anyone who carry that much amount of cash must exchange it somewhere and those are easier to track unless they use black market to do it.
The Senior Manager then discussed an increasing use of digital currencies, based on public DLTs, which "could prevail instead of sovereign currencies." That's the idea in the first place. That's how bitcoin and its underlying technology, the blockchain was created by Mr. N. The permissionless public ledger will replace the current financial system.
NOTHING in term of traditional banking and financial system. But for bitcoin, it's backed by a complex mathematical system that run on the trustless computer that acts like a middle man. Regardless who back up who, even fiat currency is not backed by anything. Do you believe that government amassed that much of gold bullion to backed up their toile
Not only Uber, but anything that operates outside traditional banking system is being shutdown. This is a proof of Orwellian financial and governmental system where central command give the order if they do not want to use the system. In this sharing economy system, no one or no institution in this world can stop the peer to peer people system. Yes
UBS is not central bank, so how in the world this so called "settlement coin" can be used as medium of communication between central banks. Just a little note, this statement: One of those resources is the real-time gross settlement (RTGS) system used by central banks (it's typically reserved for high-value transactions that need to be settled inst
...they would use digital coins that are directly convertible into cash at central banks,... WTF! I though Santander already works together with Ripple and the R3 consortium is not even ready to release their so called private permissioned blockchain. Does people never learn from history that every time there is a different system from one country
Heck, in the beginning of human history, peer to peer is the original form of transaction. As time goes by, then bank or financial services were born as an institution where you can keep your loot safely. But as humanity enters the modern world, things have changed. Human get greedy and create many useless form of transaction just to get a percenta