Innovation

Yesterday morning, several banks in Australia started rolling out a new payment system they’re calling NPP, or “New Payments Platform.” Until now, sending a domestic funds transfer in Australia from one bank to another could take several days. It was slow and cumbersome. With NPP, payments are nearly instantaneous. And …

Nouriel ‘Dr Doom’ Roubini says ‘crypto-crazies’ are cyberterrorists

© Alexey Malgavko / Sputnik Renowned economist Nouriel Roubini says he received death threats and his consulting firm was hacked in response to his negative views on cryptocurrencies. “Cryptocrazies are also criminal Cyber-Terrorists,” he wrote on Twitter. The economist claims his consulting firm, Roubini Global Economics, became the target of …

Ripple boss says most cryptocurrencies heading to $0.00

© Kim Kyung-Hoon / Reuters In time most digital currencies will be worthless, according to the head of the centralized cryptocurrency ripple, Brad Garlinghouse. The majority of cryptocurrencies can’t be used as transactional currency, and they are being traded like assets, according to the CEO. Ripple and the company behind …

Citibank tightens squeeze on crypto trade in India

Banks in India, including Citibank, have started banning virtual currency purchases through their debit and credit cards. The move follows a recent crackdown by the Indian government. “[There have been] concerns, both globally and locally, including from the Reserve Bank of India, cautioning members of the public regarding the potential …

Thailand cracks down on cryptocurrencies with blanket ban of their use in banking

© Jorge Silva / Reuters The central bank of Thailand has ordered the country’s banks and other financial organizations to stop all operations with digital currencies for fear of possible problems with unregulated trading. Read more Cryptocurrency regulation is ‘inevitable,’ says IMF boss Lagarde Banks have now been prohibited from investing …

What you may not understand about crypto’s millionaires

Image Credit: Visual Generation/Shutterstock The decentralized age, enabled by cryptocurrencies and blockchain technology, is coming fast. We are witnessing the wholesale reinvention of the world’s financial system. When all is said and done, it is going to be fairer, more democratic, and will empower billions of people. And those crypto-millionaires …