Tag Archives: banking

Bitcoin investors hoping to make billions may end up with a sack of fool’s gold

The cryptocurrency may not be a threat to the world economy, but that should not stop regulators from protecting investors from it Sifting the Yukon river for gold was a waste of time for most of the 100,000 prospectors seeking to make themselves rich in the 1890s. The same can be said of the bitcoin miners who dream of striking it rich by getting their hands on some of the extremely lucrative and painfully elusive electronic currency. Relatively few people have managed to decipher the codes needed […]

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Is block power about to revolutionise banking? | John Naughton

Blockchain technology has the potential to bring the world of finance into the modern world. And it cant come soon enough Science advances, said the great German physicist Max Planck, one funeral at a time. Actually, this is a paraphrase of what he really said, which was: A new scientific truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it. But you get the drift. […]

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Meet the millennials making big money riding China’s bitcoin wave

The cryptocurrency may have no physical form but the returns from trading it can be very real and for some theyre worth giving up your job for On a sunny afternoon in west Beijing, on the auspicious eighth floor of a nondescript concrete high-rise, Huai Yang sits with the curtains drawn in his apartment, making his own luck. For the past six months, 27-year-old Yang has worked mainly from home, mainly from his sofa, tracking and trading bitcoin, and watching the money roll in. The flat itself […]

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Don’t dismiss bankers’ predictions of a bitcoin bubble – they should know

The virtual currencys success reflects the continuing lack of trust in traditional banking following the credit crunch When the boss of Wall Street’s biggest bank calls a bubble, the world inevitably sits up and listens, albeit with a sense of historically weighted irony: of course an investment bank boss would spot disaster after his industry presided over the last one. Jamie Dimon, the chief executive of JP Morgan, said last week that the ascendancy of the virtual currency bitcoin – which has risen in price from just […]

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London finally has a zero-waste and zero-plastic shop

The future of banking fits in the palm of your hand! But is it all that new?Image: monzo Banking doesn’t usually inspire chat-up lines in pubs, or nightclub-style virtual queues of young people looking for a quick way in. But one London-based startup has managed to become quite the conversation starter in London’s pubs and beyond.  Monzo lives entirely on your phone and is geared toward a generation accustomed to doing everything with that device. Unlike many other apps, there’s no waiting until the next day to […]

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