The FinTech sector has been on fire over the course of recent months and it looks like that trend will continue for quite some time. Part of that success can be attributed to the interest of banks in FinTech solutions, as the financial sector is prone to disruption. More investment funds are expected to flow in over the next few month, most of which will be coming from Chinese firms.
There are many parallels to be drawn between the worlds of Bitcoin and FinTech. In fact, Bitcoin is its own form of FinTech and there are quite a few things both industries can learn from one another. Finding the perfect bank partner, for example, is a struggle experts in either industry are all too familiar with. There is a silver lining, however, as there are some steps companies can take to smooth the process.
It is no secret that even major banks and finance groups will have to start rethinking their business model sooner or later. The traditional financial ecosystem is bound to get shaken to its core in the next few years, as developers from all over the world are working hard to bring innovation to the world of finance. Santander Innoventures, who recently invested in Ripple, are keeping all of their options open for now.
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The relationship between Australian banks and Bitcoin companies is one of the most uneasy ones in the world today. Over the past few years, Australian Bitcoin users have faced a lot of scrutiny. Even though taxation of Bitcoin income gives digital currency a more legitimate appeal, the decision was met with a lukewarm reception. Now that some Australian banks have decided to close accounts of Bitcoin startups, things have gone from bad to worse.
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The traditional payment sector is still struggling to find solutions against fraud, especially when it comes to online fraud detection. Credit and debit cards, as well as any payment processor making use of these payment methods, can be cancelled, reversed and disputed at any time. Merchants and retailers are expanding their presence online, which only invites more fraudulent payments. Bitcoin is a clear-cut solution to this problem, but maybe Ravelin has a temporary fix on hand as well.
Make sure to read: Portugal’s Financial Woes Threaten Eurozone – Bitcoin Effort Imminent?
Society is evolving into a more data-centric organism, which means companies have a hard time to fill all of those needs in real-time. Data virtualization companies are sprouting up like there is no tomorrow, and they are receiving quite a bit of funding as well from various investors. Delphix is the latest startup in that market, and they recently raised an additional US$75m.
Delphix – Consolidating Data Into A Cloneable Masterfile
Most companies in the world are already on the brink of data processing capabilities. Not just because there is so much data to be aggregated, stored and shared, but also because the technology of transferring files is a bottleneck. Despite major technological improvements over the years, it still remains a tedious job to transfer large chunks of data.
Regardless of which aspect of finance you are looking at, startup companies are facing so many uphill battles these days, it is becoming incredibly difficult to succeed. Most of that failure can be attributed to a lack of guidance from so-called “startup accelerators”, or lack thereof. But even these accelerators themselves are failing to do a low influx of proper investment-grade companies.
Startup Accelerators – A Business Model That Has To Change?
Most people view startup accelerators as a way for new companies to receive funding and guidance. And while there is some merit to that statement, no one stops and asks where that money is coming from. Startup Accelerators are a form of investment, by attracting promising teams and companies, investing in them with time and money, and expecting to see a return.
Less than a week from today, the next Inside Bitcoins conference will kick off in Chicago. As is always the case with Inside Bitcoins events, there is a lot of excitement surrounding this event. Combine that with a long list of interesting speakers, and you can see why these events also draw a large crowd.
Inside Bitcoins Conference and Expo Chicago
In recent years, Chicago has been the host of multiple Bitcoin conferences. And that should come as no surprise, as the Chicago Bitcoin Meetup group currently has over 700 members who share a passion for Bitcoin and digital currency. Events, such as Inside Bitcoins, are a great way to connect people from all over the world and open up tons of networking opportunities.
Brussels will hold the very first Bitcoin 2 Business (B2B) Congress on 16th – 17th October. It will be the first event with a B2B format meant only for entrepreneurs, investors, VCs and companies. Agenda will be also dedicated to support Start-ups and their projects.
I really had a blast attending CoinSummit London 2014 last week.Besides meeting lots of awesome people, we also heard a bit more about some of the Bitcoin startups that are currently looking for funding. Chain is one of these companies.
Chain basically offers a developer platform for blockchain-based applications and services. In order to access this platform, functions can be called up through the Chain API, which is available in a variety of languages and SDKs.