Blockchain
World’s banks accelerate shift to digital after COVID-19
Banks are rapidly accelerating their shift to digital channels as they seek to reinvent their business models in response to the COVID-19 pandemic, a new paper from Atos reveals.
Incumbent banks are facing a major challenge in fighting off digital competitors, while all banks must harness technology in order to meet new decarbonization targets and regulatory requirements, as well as cater for rising consumer demands.
Two thirds (66 per cent) of banking leaders named transforming the digital customer experience as a top priority over the next year in a survey, while a further 80 per cent said digital technology is essential to achieving their decarbonization targets. Almost half named account security and protection from fraud as a key priority.
The results, from a survey that included 400 retail banking leaders across North America and Europe, are highlighted in the latest global opinion paper by Atos, Digital Vision: Digital Banking, which brings together leading voices from across the industry and geographies, including North America, to examine the latest trends that are shaping and transforming the digital future of banking.
Digital Vision: Digital Banking illustrates how digital technology is making banking smarter, greener and safer. It details how big data, artificial intelligence, blockchain and the Internet of Things are offering banks new opportunities to transform the customer experience, decarbonize operations, and protect their business and customers from external threats.
Adrian Gregory, Global Head of Financial Services & Insurance at Atos, said: “Digital disruption is not new to the banking industry: technologies advance and hungry market entrants are emerging all the time. What has changed, however, is the massively accelerated shift to digital channels as a result of Covid-19. Atos is working with our banking customers and global partners to help navigate and accelerate business and digital transformation to deliver banks’ priorities and ambitions. At this pivotal time in history, we see important opportunities to collaborate to help create a cleaner, more inclusive and secure future for all.”
The Digital Vision: Digital Banking paper builds on the experience of Atos as a leading digital partner to many of the world’s banking, capital markets and insurance companies, providing integrated technology solutions that help financial services providers prosper in a rapidly evolving digital world.
Over the past year alone, Atos has secured a broad range of banking, insurance, pensions, and capital markets contracts across multiple continents. Examples include the selection of Atos by Banque Misr, one of the largest banks in Egypt, to support its transformational journey to become the country’s first digital bank; a minimum 10-year contract with Nest to design and build a future focused pension scheme; and an extended agreement to accelerate transformation with Dutch insurer VGZ.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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