Financial Services Industry to Spend $1.7B on Blockchain

Banks and other companies are moving from the proof-of-concept stage to the commercial use of technology
13 June 2018   847

The financial industry spends annually about $ 1.7 billion on solutions based on distributed ledger technology (DLT), according to Bloomberg.

Banks and other companies are moving from the proof-of-concept stage to the commercial use of technology.

Last year, the cost of blockchain increased by 67%. And every tenth company reports spending of more than $ 10 million. The study also notes that in 2017 the number of employees working on the blockchain projects has doubled.

Despite the fact that in recent years the attention of companies providing financial services has focused on DLT, not all of them have been able to implement the technology in their activities.

More than half the executives we interviewed told us that implementing DLT was harder than they expected.
 

Richard Johnson

Vice president, Greenwich Associates Market Structure and Technology.

Despite this, it is expected that more than three quarters of projects under development will be successfully implemented in the next two years

Bittrex to Go For Maintenance After 1/3 Funds Moved

Users suspects hack, but exchange says "funds are safe"
05 December 2019   94

The Bittrex cryptocurrency exchange has announced scheduled maintenance today, December 5, from 22:00 to 23:00 (GMT). On the eve, a third of its assets were transferred to an unknown wallet.

During maintenance, users will not be able to log into the system or use the APIs. Trading will be suspended.

On December the 4th, populat Twitter account posted that "43,564 #BTC (313,074,134 USD) transferred from Bittrex to unknown wallet." Users suspected that the exchange was hacked, but the exchange . 

Closures for scheduled maintenance only heightened suspicion. However, the Bittrex team assures that "that claim is false."