Feb 1st, 2018
Less than a decade ago, blockchain sounded like the fodder of science fiction; today, the technology is demonstrating its ability to revolutionize the finance industry. By stepping outside the existing payment structures, blockchain provides a new and secure way to execute financial transactions. The use of the technology is rapidly expanding, and because of the innovative nature of the technology, its wide-ranging possibilities are being explored and developed by a range of companies with unique objectives. Some, such as SinglePoint, Inc. (SING), are looking at how to integrate these technologies to provide a better service for select markets. While alarming articles predict the bursting of the “blockchain bubble,” established companies such as Bank of America Corp. (BAC) and Mastercard, Inc. (MA) have moved to adopt blockchain technology, signalling its acceptance by mainstream banking. Meanwhile, companies such as Bitcoin Services, Inc. (BTSC) and Discover Financial Services (DFS) continue looking for new ways to exploit the technology’s potential.