Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Digital Nomadism
  • Destinations
    • Europe
      • Spain
      • Portugal
      • Italy
      • France
      • UK
      • Rest of Europe
    • Central America
      • Panama
      • Costa Rica
      • Nicaragua
      • Honduras
      • Belize
      • El Salvador
      • Guatemala
    • Others
      • North America
      • South America
      • Australia
      • Africa
      • Asia
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Digital Nomadism
  • Destinations
    • Europe
      • Spain
      • Portugal
      • Italy
      • France
      • UK
      • Rest of Europe
    • Central America
      • Panama
      • Costa Rica
      • Nicaragua
      • Honduras
      • Belize
      • El Salvador
      • Guatemala
    • Others
      • North America
      • South America
      • Australia
      • Africa
      • Asia
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
👤

LIFE WITHOUT BOUNDARIES

THE NUMBER ONE SOURCE FOR EXPATS, DIGITAL NOMADS, AND DREAMERS.

  • Finance

Big Banks are Starting to Enter the Cryptocurrency and Blockchain Craze

  • October 9, 2018
  • BY staffwriter
Total
0
Shares
0
0
0

Big Banks are Starting to Enter the Cryptocurrency and Blockchain Craze

When Bitcoin began in 2009 every major investment bank said it was a bust and that it would not be wise to invest in it. Even financial guru Warren Buffett said it was a massive risk and compared the cryptocurrency to a poisoned square. Today, big banks are starting to enter the cryptocurrency and blockchain craze.

Warren Buffett will continue to speak ill against cryptocurrencies, but what would you expect from a man who doesn’t even have an email account. But, cryptocurrency and blockchain are the new techs on the block and the new investment strategy. It’s their time and big banks are beginning to get on board.

The traditional way of making money and invest in assets has changed and many huge financial firms recognize it. Goldman Sachs, JP Morgan, and many other huge players in the financial game have created departments based entirely on predicting cryptocurrency.

Just look at what Steve Chiavarone, portfolio manager at Federated Investors, just did. He made a statement in which he declared that blockchain will lead the way and eventually create the fourth industrial revolution.

Federated Investors has started to promote the use of blockchain technology to their big conglomerate clients. They predict that any company that invests in quality blockchain projects will have almost immediate returns.

I found this great podcast by The Expat Money Show – Bitcoin For International Privacy, Protection And Control – Eryka Gemma

This is based on the fact that major corporations overseas have already begun securing their company and their assets using blockchain. Even the governments of certain countries, for example, Mexico, have begun to test out blockchain as a way to decrease corruption and make monetary transactions safer.

Today, Big banks are investing in Bitcoin to study and analyze blockchain technology. This idea is shared by many and maybe one of the reasons why one of the biggest American banks is entering into the crypto game strong.

Bank of America has made several statements declaring that they’re investing the most in blockchain and crypto. As of today, Bank of America has possessed the most live patents in the blockchain space. Bank of America clearly sees the potential that the technology has, and once it is accepted by the mainstream corporate culture they will have the most to gain.

Another important bank in the United States, Citigroup has launched a number of trials to see how efficiently the technology tracks down credit default swaps. The results were overwhelmingly positive.

The success in this trial will eventually lead to its use in other forms of banking. Mainly to take care of assets and trade. The only thing that will be missing is to set up a framework based on how technology should be used.

American banks are not the only ones who have predicted that blockchain is the future. In the international banking sector, many banks have invested heavily in technology and, for the most part, have skipped the obstacles that the United States has imposed on cryptocurrency and blockchain.

The Bank of England has been one of the most important players in embracing the power that the technology of blockchain has to offer. In 2016 they launched a blockchain accelerator and for some time even considered launching their own coin.

Hong Kong and UK based bank HSBC and Germany’s Deutsche Bank made an important deal with technology giant IBM last year. The goal of the deal is to help the banks rely less on paper and to use blockchain to protect their international trade transactions.

Switzerland which has quickly become a haven for financial technology companies, and the best place to launch an ICO, has many important banks investing in cryptocurrencies and blockchain altogether.

One of Switzerland’s most important banks worldwide, UBS been heavily promoting blockchain for a number of years. UBS has been a key component in introducing Blockchain and cryptocurrencies to other major banks and foreign conglomerates.

Finally, huge Spanish banking giant BBVA, made a considerate investment in the cryptocurrency trading platform Coinbase as it plans its next move involving the use of blockchain. The future is cryptocurrency and blockchain, banks and financial investments that don’t invest in either will stay behind.

I hope you’ve found this article on blockchain technology and banks to be helpful. For more information, or for assistance in starting a business offshore, please contact us HERE.

Here is probably the most extensive ebook on Everything You Ever Wanted To Know About Eliminating Your Taxes, Protecting Your Assets And Regaining Privacy Over Your Life And Investments. It is called The Ultimate Guide To Going Offshore. 

I’ve included some great articles for you to read, enjoy!

Blockchain without Bitcoin

Investment Opportunities in the Crypto Currency Segment

First Cryptocurrency Exchange Backed By A Bank

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Previous Article
  • Asia

Residency Options in Japan

  • June 24, 2018
  • BY EA Editors
View Post
Next Article
  • Asia

Things to Know Before Starting to Look For a Job in Asia

  • March 1, 2019
  • BY EA Editors
View Post
You May Also Like
best place to retire
View Post
  • Plan B
Retiring Abroad: Where Can You Actually Afford to Live?
  • BY EA Editorial Staff
  • June 18, 2025
Not all retirements are created equal—especially when taxes are involved.
View Post
  • Plan B
How to Retire Tax-Free Abroad
  • BY EA Editorial Staff
  • April 23, 2025
Investors diversify globally to protect their future.
View Post
  • Plan B
Why Every Investor Needs a Plan B Abroad
  • BY EA Editorial Staff
  • April 3, 2025
Tallinn, Estonia is Europe’s digital gateway for borderless business.
View Post
  • Plan B
The Best Countries for Financial Freedom
  • BY EA Editorial Staff
  • April 1, 2025
Saint Kitts and Nevis offers citizenship through investment. Photo courtesy of iStock/pics721
View Post
  • Finance
How to Build Wealth While Living Overseas
  • BY EA Editorial Staff
  • March 25, 2025
Family Foundation
View Post
  • Finance
15 Proven Global Strategies to Protect Your Wealth
  • BY Joel Nagel
  • March 25, 2025
A new life abroad offers fresh opportunities.
View Post
  • Digital Nomadism
Why Living Abroad Works
  • BY EA Editorial Staff
  • March 19, 2025
The world is more connected than ever, but taxation remains complicated. Credit: iStock.
View Post
  • Digital Nomadism
How to Avoid Double Taxation
  • BY EA Editorial Staff
  • March 12, 2025
Trending Posts
  • The True Cost of Leaving America 1
    • Interviews
    The True Cost of Leaving America
    • June 25, 2025
  • best place to retire 2
    • Plan B
    Retiring Abroad: Where Can You Actually Afford to Live?
    • June 18, 2025
  • 3
    • Africa
    The New Africa Travel List for 2025
    • June 20, 2025
  • Living in Zurich Switzerland 4
    • Field Notes
    Zurich’s Formula for Happiness
    • June 22, 2025
  • Nordic chapter of adventure 5
    • Rest of Europe
    The Nordic Blueprint for Happiness
    • June 30, 2025
Subscribe
Know Before You Go
  • The True Cost of Leaving America 1
    • Interviews
    The True Cost of Leaving America
    • June 25, 2025
  • 2
    • Africa
    The New Africa Travel List for 2025
    • June 20, 2025
  • Rolling emerald fields and soft skies in County Kerry. 3
    • Ireland
    Top 10 Things to Know If You’re Moving to Ireland
    • June 13, 2025
  • A new generation claims space through movement. 4
    • Africa
    How Ethiopia’s Girls Are Rewriting the Rules on Wheels
    • May 30, 2025
  • Residency programs worldwide are undergoing rapid transformation. 5
    • Second Citizenship
    Beyond the Golden Visa – The Future of Residency
    • May 7, 2025
Learn More
  • About Us
  • Contact Us
  • Subscribe
Why Subscribe

The newly imagined Escape Artist brings you fresh content with a global focus, and sharp, up-to-the-minute coverage of the joys, challenges, and opportunities of life abroad.

For a limited time, we’re offering a special discount on all subscription deals, so be sure to lock-in these incredible savings and start receiving top-notch travel and expat content today!

Sign up for the EA Newsletter

Get important news delivered directly to your inbox and stay connected!

This field is for validation purposes and should be left unchanged.

Escape Artist
  • Terms & Conditions
  • Privacy Policy
  • Cookies Policy
  • Disclaimer

Input your search keywords and press Enter.

Newsletter Subscription

Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/