FinTech Daily: Wells Fargo allow Apple & Android Pay withdrawals; IBM & Microsoft have visio
Wells Fargo will let you use Apple Pay and Android Pay to withdraw money
Wells Fargo just announced that you'll be able to use your phone or smartwatch to withdraw money from 13,000 ATMs in the U.S. As spotted by MacRumors, the bank says that it will support Apple Pay, Android Pay and Samsung Pay. TechCrunch first reported that Bank of America and Wells Fargo were both looking at Apple Pay for their ATM networks. Bank of America already started rolling out cardless ATMs last summer with support for Apple Pay, Android Pay, Samsung Pay and Microsoft Wallet. Wells Fargo is adopting the same strategy without Microsoft Wallet, but I don't think anyone cares. It is going to be convenient for customers who use a credit card for card transactions, who won't have to carry around their debit card anymore. If you have an old phone, you can also withdraw money without your debit card using the Wells Fargo app. Now let's see if Citibank and Chase will also adopt Apple Pay and Android Pay in the future.
IBM vs Microsoft: Two Tech Giants, Two Blockchain Visions
I'm talking about IBM and Microsoft, and the race to build a business-friendly blockchain-as-a-service platform. IBM recently unveiled the first commercial application of IBM Blockchain, a suite of cloud services to help clients create and manage blockchain networks. While Microsoft's BaaS is designed to work with a range of protocols, it has shown a preference for the ethereum blockchain, and soft-launched the service at an ethereum event in 2015. Most of its recent partnership announcements are with startups that use ethereum as their base, and Microsoft is a founding member of the Enterprise Ethereum Alliance, recently set up to explore business adaptations of the public blockchain. IBM, on the other hand, has so far largely stayed away from public blockchains. Its BaaS service is based on Hyperledger's Fabric codebase, of which IBM wrote a large part. It's not really about public vs private - after all, both Microsoft and IBM are developing private applications of open-source protocols.
A Short Guide to Bitcoin Forks
There are many different types of forks, and the science of studying them is still new. We know some forks resolve on their own, but others, fueled by deep rifts in a community, can cause a network to permanently split, creating two blockchain histories - and two separate currencies. To clarify, we've assembled quick rundown on how different forks work. Before we get into the classifications, it's worth noting that bitcoin forks already occur quite regularly. A byproduct of distributed consensus, forks happen anytime two miners find a block at nearly the same time. Soft forks have been the most commonly used option to upgrade the bitcoin blockchain so far because it's argued they present a lower risk of splitting the network. Past examples of successful soft forks include software upgrades like BIP 66 and P2SH. User-activated soft fork.