Bitcoin shakes off bubble warnings in race past $US16,000 mark
Bitcoin touched $US16,000 for the first time on Thursday, extending its advance this month to almost 70 per cent as concerns mounted the cryptocurrency’s rapid rise masks risks. The world’s biggest cryptocurrency is surging on expectations that new bitcoin derivatives products expected to begin trading this month will boost mainstream demand. Some of the world’s biggest brokerages criticized those plans on Wednesday, telling regulators the contracts have been rushed to market without enough due diligence. Bitcoin jumped as much as 23 per cent to $US16,374, before paring gains in New York trading, according to Bloomberg prices. That takes the digital currency’s surge this year to more than 1,500 per cent […]
A Focus on the Digital Currency
When the Internet was invented, everyone began to look for ways to make money online. Most of these ways involved using the power and connectivity of the Internet to improve upon old industries. Advertising, retail, communications – everything was being disrupted. The banking industry was the last to be disrupted because of all the regulatory restrictions that are in place with respect to the management of money. Options like PayPal began to emerge as early as 1998, but these systems were mostly just centralized online managers of fiat currency rather than completely new digital currencies. The first true digital currency that has ever received mainstream attention is Bitcoin. It was […]
Bitcoin breaks US$100 Billion in value, soars to over US$6000 for the first time
Bitcoin, which is unarguably the world’s most prominent digital currency, just broke through one of the most important milestones ever, vaulting to over US$6000 and over US$100 billion in value. Welcome to a new kind of currency, or rather, welcome to a new kind of financial system. Today, for the first time ever, Bitcoin surpassed the $6000 barrier, proving that cryptocurrency is, in all likeliness, here to stay. Bitfinex, which has the highest volume BTC/USD exchange, broke the $6,000 barrier initially. Now, the same can be said for all of the other major exchanges. It has only been a little over a week since the price of bitcoin soared passed […]
How Fintech is shaping the future of Wealth Management
A new report from the World Economic Forum and Deloitte confirmed what many advisors, technology vendors and industry analysts have long insisted: it is established wealth management firms, not startups, best positioned to capitalize on disruptive technology. Robo advisors have proven to be an effective tool for customer engagement, but they’ve also proven relatively inexpensive and easy to replicate. By offering their own robo, firms increase customer stickiness while also avoiding the high client acquisition costs that plague startups. But the future is far from certain. Robos have set a new standard for the kind of personalized digital experience clients expect from financial services, and business-to-business fintechs—the so-called wealthtech companies—continue to automate more middle and […]
