Blockchain

E-commerce and digital finance are expanding quickly due to the pandemic, economic downturn and plans for recovery — providing opportunities for VCs that back technology that powers faster, more digital payments.

By allowing access to public chains, CBDCs could render much greater, and even revolutionary, functionality, says Cypherium's Sky Guo.

High profile companies like Facebook, Square and PayPal have brought attention to using cryptocurrency for payments — but speed is more important than buzz in getting stores to view crypto as tender, according to a group of developers who are building connections to merchants.

For years, business models based around micropayments have been touted as an alternative to advertising, offering a new form of revenue for all kinds of content creators, enabling users to pay for the exact quantity of services they consume. They have even been suggested as a way to create alternative insurance products, for example forms of car insurance where drivers pay per journey.

Bitcoin showed the world that software can be open source, censorship resistant, decentralized, permissionless and borderless, says Woorton's Zahreddine Touag.

Founder Caitlin Long says the blockchain bank plans to issue a virtual currency and help hedge funds and family offices trade digital assets now that it has a special-purpose banking charter in Wyoming.

A Federal Reserve-issued digital dollar could speed up payments, expand financial access and reduce financial crime. But it also brings trade-offs that policymakers are only just beginning to consider.

Blockchain has too many advantages over traditional payment solutions for merchants to ignore. By accepting cryptocurrency, merchants can tap into a growing multibillion-dollar market and get a taste of a cashless, borderless future, says Nash's Kellogg Fairbank.

After selling the rights to its Ethereum-based technology, the bank is rebranding a venture related to cross-border payments and creating a new umbrella group to oversee all blockchain-related efforts.

After selling the rights to its Ethereum-based technology, the bank is rebranding a venture related to cross-border payments and creating a new umbrella group to oversee all blockchain-related efforts.