Manx Telecom share price rises after revealing “solid” annual figures March 15, 2017 Manx Telecom, which operates the Isle of Man's telecoms network, today revealed it is generating annual sales equivalent to almost £1,000 per person living on the island. Shares rose one per cent in the wake of the news. The figures Revenue rose by 1.5 per cent to £81m, with underlying earnings of £28m, the same [...]
The death of cash, the rise of trade unions and other eclectic 2017 predictions December 21, 2016 It’s certainly been an eventful year. But rather than dwell on the past, what sort of things can we expect in 2017? Here are a few eclectic predictions. Sweden may become the world’s first cashless economy. Notes and coins are already fast disappearing as a means of payment, and retailers are legally entitled to refuse to [...]
The IMF’s Christine Lagarde praises blockchain and bitcoin’s potential to slash costs and improve speeds for financial industry January 21, 2016 IMF director Christine Lagarde has joined the massed ranks of those backing blockchain, the hyped technology powering digital currencies like bitcoin, as the IMF lauds its potential in a new report. Presenting the report “Virtual Currencies and Beyond” at the World Economic Forum in Davos, Lagarde praised the cryptocurrency's possible benefits. The IMF suggested both digital currencies [...]
UK banking and investment institutions are most knowledgeable and optimistic about bitcoin technology blockchain March 7, 2016 Lenders may not have a reputation for being particularly tech-savvy – but it turns out UK banks are among the most knowledgeable about blockchain, the technology behind bitcoin, according to results from a wide-survey conducted by FTI Consulting. The study, which targeted 772 respondents in the banking and investment sector from the UK, Germany, South Africa, Australia, Hong Kong, [...]
Mark Carney wants more green bonds, Bitcoin technology and mobile banking to help deliver on United Nations’ climate change goals April 21, 2016 Mark Carney has said the expansion of environmentally-friendly finance products will help the world economy fight climate change and enhance economic stability around the planet. The governor of the Bank of England said that innovative ideas such as "green bonds", which are used to fund projects that have a positive impact on the environment, along [...]
Mike Tyson joins the bitcoin fight by launching his own mobile wallet brand with Bitcoin Direct January 4, 2016 Mike Tyson is joining the bitcoin mobile wallet fight. The former boxer has announced plans to launch a bitcoin wallet together with Bitcoin Direct, hoping to convert the general public to the digital currency. With the announcement, Tyson is continuing his love story with bitcoin, having launched a branded bitcoin ATM in Las Vegas in [...]
When blockchain meets online lending: The business using one to improve the other April 13, 2017 Leveraging technology to create a new asset class has been done a fair amount in the financial world – most notably in recent years by the P2P industry, which makes credit more accessible, faster and cheaper for individuals and business while delivering a return to investors, via increasingly accurate risk profiling. Sydney-based platform Othera goes [...]
Fintech start-up Elliptic raises £3.5m to launch crackdown on suspicious blockchain and bitcoin transactions March 21, 2016 London and New York-based blockchain intelligence firm Elliptic has received $5m (£3.5m) in Series A funding to help crackdown on bitcoin crime, it announced today. Elliptic, which launched in 2013, uses graph analysis and machine learning to identify illicit activity in blockchain transactions. Blockchain, a decentralised ledger of transactions, is the technology underpinning cryptocurrencies such as bitcoin. The funding boost [...]
Blockchain is changing finance forever: It will do the same to flawed energy markets March 16, 2017 An innovation imbalance has developed in the energy sector. Consumers can switch on their boiler with a smartphone, yet switching energy suppliers is a complex three week process. New innovations and interfaces have been layered on top of clunky pre-internet systems that make seemingly simple procedures difficult and slow. Blockchain, best known as the technology [...]
Bank of England governor Mark Carney warns fintech’s democratic revolution poses risk to financial system January 25, 2017 The fintech revolution poses significant risks to the stability of the financial services sector, according to Bank of England governor Mark Carney. Fintech’s assault on the business models of traditional banks could increase liquidity risks for the broader financial system, Carney warned in a speech delivered at a G20 conference in Wiesbaden, Germany. “The opening [...]