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ISITC Survey Reveals Financial Industry focus on the Blockchain

On March 1st, 2016, ISITC, the International Securities Association for Institutional Trade Communication, published the results of its annual survey about the financial services progress which it gives also a specific forecast on how the industry will be during the current year.

This annual survey polled 45 members who work in several sectors within the financial industries.

The survey revealed that 62% of companies want to invest in technology with a lot of interest in blockchain and cybersecurity technology and 55% of those companies are studying or already developing solutions based on blockchain technology.

Also 74% of those companies have concrete plans to invest in cybersecurity by the end of 2016/17, up from 57% in the 2015 survey.

Interesting facts about the 2016 survey

This annual survey also revealed:

  • 82% anticipate no operational issues related to the move to a T+2 settlement cycle in 2017
  • 80% of firms see cost reduction as the biggest challenge for them in 2016/17
  • 63% of firms measure operations success on the ability to reduce risk and cost
  • 62% of firms named investment of infrastructure an area of operational focus in 2016

A word from the experts…

Jeff Zoller, Chair of ISITC and Vice President at T. Rowe Price commented:

“New and emerging technologies have taken the financial services industry by storm. The results of our annual member survey confirm this sentiment, as firms plan increased investment in blockchain and cybersecurity technologies, as a method for combating long-term risk and cost. We look forward to continuing the dialogue around the challenges and opportunities these disruptive technologies bring to the industry at our March event in Boston”.

In addition, according to Nigel Solkhon, CEO of ISITC Europe, the current interest and investment in the blockchain among financial companies will have a significant impact within the next 18 months.

The ISITC 22nd Annual Industry Forum and Vendor Show will be held March 20-23, 2016 at the Renaissance Boston Waterfront Hotel.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Helperbit wins the Blockchain startup competition in Amsterdam

On February 18th Helperbit won the blockchain startup competition held at the d10e in Amsterdam.
Helperbit is a “natural disaster management platform” that aims at helping stricken people with a simple peer-to-peer donation system.

Blockchain + GIS

Obviously this is possible thanks to the blockchain technology that allows a smart and fast transfer of values. Also, thanks to the interaction between the blockchain and the geographic information system (GIS) Helperbit can store all the information concerning the effects of the natural disasters.
The platform will be active in case of earthquakes, but also it will be extended to all the different natural disasters, such as hurricanes, fires and floods.

Blockchain Space

Again on February 18th, it was held the inauguration of the Blockchain Space, a “focused startup accelerator for talented visionaries creating disruptive solutions to real-world problems using blockchain technology”.
Among their selected startups, obviously there is Helperbit, who presented its project during the event held in Barcelona.
Helperbit team members are: Vincenzo Agui, Davide Menegaldo, Guido Baroncini Turricchia, Davide Gessa, Roberto Tudini, Gianluca Carbone and Luigi Angotzi. 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

How the blockchain can improve the Australian voting system

Flux Party is a new Australian political party that wants to renovate the voting system by using the blockchain.

In fact, they have proposed a new token-based political system based on the Bitcoin technology.
The Flux Party has more than 500 members and its objective is to have six senators on ballots during the next election that Australia will hold in September/October.

How it works

A special feature of this party is that its members are free of its own policies and they can vote for or against a legislation at the bidding of token holders.
“If they didn’t have to be senators, if they could just be software or robots they would be, because their only purpose is to do what the people want them to do”, commented the Flux Party co-founder Max Kaye.
So the bitcoin token could be used by the Flux members for voting but also for trading with other people.

Too old for the Internet era

Australian Flux party is clearly suggesting that the current democratic system is too old for the Internet age and for this reason they want to redistribute the political power by using Bitcoin.
Their own website states: “Our current system doesn’t work well enough; politics gets in the way of policy. Flux is an incremental upgrade to democracy designed to redistribute political power, maximise participation, remove bad policy, and empower voters.”
The Flux Party system will allow voters to be able to set their votes to experts on these issues.

A revolutionary but not so new idea

The idea of a blockchain-based voting system is very revolutionary and it is not developed only by the Fluxa Party.
In fact, Nasdaq and the Bitcoin Foundation have worked both on their own voting systems throught the blockchain technology.
About the author: Amelia Tomasicchio is a writer and a journalist of Bitcoin-related news and articles. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.

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Amelia Tomasicchio

Infographic: What gives Bitcoin value?

 What gives Bitcoin value? - infographic

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jorge