News > FinTech

Hugh Madden on the Real Threat From Facebook's Libra
Hot on the heels of a massive privacy scandal, Facebook announced Libra, and naturally, it sent regulators and media people in a tizzy. But were the potential privacy and money laundering issues they raved about the real threat? BC Group CEO Hugh Madden says no. Speaking to a packed crowd at Block O2O: The First Global Crypto – Libra, Madden
Uber Opens A New Fintech Office In New York City
FinTech
During a recent recruitment event, Uber Technologies Inc (NYSE:UBER) announced plans to accelerate the growth of its sideline business in financial products by opening a new fintech office in New York City. Fintech expert Monica Eaton-Cardone says that Uber’s primary goals are to encourage customer loyalty within its rideshare and food delivery businesses and help independent contractors manage earnings. freestocks-photos /
Commerzbank Tests Blockchain-Based Payments For Machine-To-Machine Transactions
Major German bank Commerzbank announced that it has developed a blockchain-based payment solution that specifically automates machine-to-machine (M2M) payment processes. This pilot project is in collaboration with Daimler Trucks, with this M2M payment part of the test for the direct handling of charging operations of electrically powered trucks. The automated payment pilot involves the transaction process between an electric truck
New Zealand Legalizes Salary Payments In Crypto
It was announced yesterday that New Zealand has become the first country ever to legalize salary payments in cryptocurrency. geralt / Pixabay This ruling was signed on June 27 by the Inland Revenue Department (IRD) agency’s Director of Public Rulings, Susan Price. It will be put into effect for three years from September 1, 2019. The ruling states that the
North Korea’s Nuclear Program Partially Funded by ‘Large Scale Attacks Against Cryptocurrency Exchanges’
North Korean hackers have reportedly stolen up to $2 billion to help fund the country’s nuclear program, the SCMP writes citing a report to the United Nations Security Council. North Korea is using cyberspace “to launch increasingly sophisticated attacks to steal funds from financial institutions and cryptocurrency exchanges to generate income” in violation of sanctions. Cryptocurrency exchanges deal in virtual
Report: The People's Bank of China's Digital Currency Is Now 'Ready'
Barely a month after it accelerated its crypto plans, China’s central bank digital currency (CBDC) is now reportedly “ready.” The Token Post, citing the Shanghai Securities News, reported yesterday that the Middle Kingdom will be rolling out its CBDC “soon.” Mu Changchun, deputy chief of the People’s Bank of China’s payments and settlements unit, said that the CBDC prototype is
The Tech Advancements That Are Shaping How Brim Financial, Other Fintech Companies Handle Banking
FinTech
Brim Financial CEO and Founder Rasha Katabi offers insight into how the landscape is changing Image source: Money Inc. Time and again technology advancements continue to enhance the way banking is done. From ATMs to electronic statements, the future of banking has always evolved with the progression of technology. The changes to banking in the last few years have been
Hacker Extorts World’s Largest Bitcoin Exchange Over KYC Data
Binance, the world’s largest cryptocurrency exchange by trading volume, recently revealed that it has been targeted by an extortionist seeking “300 BTC in exchange for withholding 10,000 photos that bear similarity to Binance KYC data.” The Malta-headquartered exchange refused to cooperate with the hacker, and as such, a shedload of the photos have been released, including several hundred that he
Apple Card – Trailblazer Or Just Another Brick In The Wall?
FinTech
Recent rumblings about the Apple Card and its inability to fund online gambling and crypto transactions seem to put the brand in a funky spot. Not only does the move not match Apple’s identity as an innovator, but also actively works against the unorthodox model it was built on. Image source: YouTube Video Screenshot Bryce Daifuku, CEO and founder of
Report: State-Backed Hackers Are Targeting Crypto Firms
Here’s something interesting. FireEye, a California-based cybersecurity company, says with “high confidence” that Chinese government hackers have been attacking crypto firms (PDF). The hackers, called APT41, have been active since 2012 and initially targeted video game companies for financial gain. FireEye, however, claims that the group has since expanded to state-sponsored activity alongside its own financially motivated operations. As with