Vulcan is helping banks to love Bitcoin

The fact that the blockchain slowly but surely becomes the favorite of the FinTech industry is not necessarily something new. Interestingly, the currency bitcoin has however almost disappeared from the headlines. The Vulcan Digital Asset Services joint venture is now trying to change this by calling on banks to give the crypt diet a chance.

But what is Vulcan actually? On the official web site, this is a next-generation infrastructure that combines financial services and commercial services through the use of pioneering developments in digital currencies. Vulcan Digital Asset Services is a simple platform that combines the identity of users, their financial resources and capital. Thus, they should be able to act, divide, issue, and track transactions with any physical or digital assets. This should be possible quickly, cheaply and anywhere in the world. In summary, the initiative has set itself the task of establishing the currency Bitcoin and the ecosystem of cryptowogy in the mainstream.

The news portal Silicon Angle quoted recently in an article John Shipman, PwCs Fintech division manager in the Asian area. Shipman said the Vulcan developers based in London are of the opinion that both cryptocurrency technology and the blockchain have failed to meet the needs of enterprise businesses effectively. Bitcoin’s biggest challenges include, among other things, the requirements in terms of anonymity and regulation, which is why they are looking for suitable solutions.

Talking to CoinDesk, Robert Allen, head of Vulcan and Australian blockchain leader at PwC, said the idea of the new initiative had sprung from the desire to convince banks that bitcoin can be useful and accessible. Since the Vulcan platform is built according to a multi-asset principle, so-called loyalty points can be obtained, which can then be exchanged into money or digital credits. In addition, users with the Vulcan Wallet have the possibility to adjust exactly which offers and messages they would like to receive. More importantly, Vulcan’s investment with digital currencies ensures compliance, ie compliance with regulatory and regulatory standards. Thus, the creation of new derivative crypt products is also possible.

You can not have everything. Now that Bitcoin might get a little positive press, the blockchain does not look so bright: a new report from KPMG and CB Insights says there are still plenty of opportunities for blockchain companies to prove themselves , Investors would be increasingly worried about the results. Conor Moore, national co-lead partner at KPMG in the United States, noted that the continuing positive momentum in areas such as Blockchain or Robo Advisory, coupled with the ever-growing demand for alternatives to traditional financial services, has made the FinTech industry the most dynamic sector For riskinvestment in the coming year.

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