The growth of Fintech
When technology put its fingers in the financial services, Fintech was born. And now with this word we refer to mobile payment, transfers, fundraising and , of course, cryptocurrencies!
Fintech is a very revolutionary sector which has allowed the development different new companies through its technology support. It gave impulse to the whole financial industry because of its technological solution which simplifies complicated mechanisms.
As always, traditional player felt threatened by it; but its development has ben unstoppable and experts usually call it … Future.
Our good friend of 16best.net provided us an awesome infographic which explains some incredible facts on the incredible growth of fintech in the last couple of decades.
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South Korean Bank to work on the Blockchain
KB Kookmin: South Korean bank to work on the Blockchain
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Dutch Central Bank Tests Bitcoin Blockchain
Dutch Central Bank test number one
Also, they sent each other several coins, testing the process.
DNB Second test
“The second DNBcoin prototype takes the other extreme of bitcoin by jumping to the year 2140, the year when the last fraction of the 21 million bitcoins will be issued,” said Berndsen.
For this second test, the team mined all of the DNBcoins in advance, beginning with a block reward of 1 billion of DNBcoins.
“In doing so we were able to generate 3 billion DNBcoins in 30 seconds. In addition, we observed that after all DNBcoins had been generated, blocks could still be mined and added to the blockchain. The reward was reduced to zero but transaction fees were still collected by the miner who finds the next block.”
Blockchain central bank adoption
Central banks are increasing their interest in the blockchain.
Recently, in fact, we talked about several central banks who studied, tested and adopted the blockchain.
For example, you may be interested in the news related to the Central Bank of Canada that revealed its new digital currency called Cadcoin.
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