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Fintech Companies Disrupting Finance, Creating Bank of Tomorrow; IBM and MIT to pursue joint researc



Fintech Companies Disrupting Finance, Creating Bank of Tomorrow


The banking industry is being rapidly disrupted by Blockchain technology. One popular recent development in the Blockchain community is the creation of multi-crypto/fiat debit cards. These cards allow users to interchange between the given set of currencies in a seamless manner. CEO of Never Stop Marketing, Jeremy Epstein, identifies this as one of the innovations helping drive cryptocurrencies into the mainstream. According to Epstein, crypto debit cards will enable people to start using their digital currency for regular purchases. He explains that whether one particular platform succeeds or fails, the concept will prevail and push crypto into the mainstream. Read the full article here

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Category: Banking

Image & article ref: cointelegraph.com

IBM and MIT to pursue joint research in artificial intelligence


IBM and MIT today announced that IBM plans to make a 10-year, $240 million investment to create the MIT–IBM Watson AI Lab in partnership with MIT. The lab will carry out fundamental artificial intelligence (AI) research and seek to propel scientific breakthroughs that unlock the potential of AI. The collaboration aims to advance AI hardware, software, and algorithms related to deep learning and other areas; increase AI’s impact on industries, such as health care and cybersecurity; and explore the economic and ethical implications of AI on society. IBM’s $240 million investment in the lab will support research by IBM and MIT scientists. Read the full article here

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Category: Artificial Intelligence

Image & article ref: mit.edu

Square applies for bank status


Square, the fintech startup headed by Twitter founder Jack Dorsey, has made an official application in the US for a banking license, ending months of speculation about its plans but also reigniting the argument about the use of industrial loans charters (ILCs). These charters, also known as industrial bank charters, give companies permission to carry out banking services but also enables them to continue providing other non-financial commercial services. Read the full article here

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Category: Banking

Image & article ref: finextra.com

#Fintech #FintechDaily #Cointelegraph #Cryptocurrencies #Blockchain #payments #artificialintelligence #banking #Square #IBM #MIT #AILab

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