Weekly Ledger 14: Top Stories in Accounting and Finance

October 4, 2016 Ralph Perdomo

 

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Blockchain Just Made Some New Friends in CongressFortune

Jeff John Roberts (@jeffjohnroberts) of Fortune reports on recent activity on the Congressional floor. Representatives Jared Polis (D-Co) and Mick Mulvaney proposed the creation of a “blockchain caucus" on Monday, September 26, to promote laws and policies to encourage the development of cryptocurrencies and other blockchain-related tools. This is also a response to quell fears of “falling behind places like the U.K. and Singapore," says Peter Van Valkenburgh, Research Director at Coin Center.

 

The Global Fintech Landscape Reaches Over 1,000 Companies, $105B in Funding, $867B in Value: Report — Forbes

Fintech was but a blip on the radar back in 2013. Recently, however, the attention fintech has received, plus the explosive growth in the industry, is record setting. Jean Baptiste Su (@jeanbsu), contributing for Forbes, makes those points clear by relaying VBProfiles' landscape report. The most telling findings—fintech investment nearly doubled from $17.8 billion in 2014, to over $38 billion in 2015.

 

This Nigerian Fintech Startup Helps You Save For Life's Big Moments — Forbes

Fintech is disrupting economies and empowering users from all walks of life—and doing so on a global scale. Those aren't just the superlatives from a Silicon Valley startup, rather, it's the take-away from Mfonobong Nsehe's (@MfonobongNsehe) interview with JR Kanu, CEO of REACH, a startup in Nigeria. In the Forbes article, Nsehe's takes us through the interesting journey of a mechanical engineer, turned journalist, turned tech CEO and his quest to help people save money.

 

The Chip-Card Ninjas Weaning America Off Swiping — Bloomberg

Ever wonder why some stores use a chip while others still rely on a magnetic strip for credit and debit card purchases? Turns out, they are trying to catch up with the times. From waitlists and certifications to new hardware and software, Olga Kharif (@olgakharif), of Bloomberg, goes through the challenges faced by many small- and medium-sized business in getting those new EMV systems up and running.

 

Banks Adopting Blockchain 'Dramatically Faster' Than Expected: IBM — Reuters

You could soon find a blockchain-based product in your wallet as early as 2017. That's the outlook from IBM's survey of 200 banks. Jemina Kelly (@jemimajoanna), of Reuters, reports that 15 percent of the top global banks are rolling out commercial blockchain products in the upcoming year. "The industry is hurtling toward blockchain adoption far faster than many expected," IBM's report shows. "2017 looks to be the year banking on blockchain shifts from zero to sixty."

About the Author

Ralph Perdomo

Ralph is a Research Analyst at Nvoicepay. He's passionate about marketing technology and creating engaging content that delivers value to the consumer.

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