Boston Fed VP: Blockchain Will Wake Up Swift and Other Middlemen
The senior vice president of the Federal Reserve Bank of Boston believes blockchain will make financial middlemen wake up and innovate.
An upstart financial conference yesterday saw discussion of digital assets – though so-called "unregulated" cryptocurrencies were the butt of barbs.
Day one of Swift's annual Sibos conference found the interbank messaging platform under pressure from the rising tide of cryptocurrencies.
No one won the game of trolls, but competition between Swift, Ripple and Stellar is still fierce, even though it might be too early for fists.
Blockchain startup SmartContract has today unveiled a new a proof-of-concept built with assistance from five major financial institutions.
Swift declares its blockchain proof-of-concept a success, but in the build up to its biggest annual event, implementation is far from certain.