Nouriel Roubini, a notorious cryptocurrency critic, has stated that blockchain is “no better than an Excel spreadsheet” during a panel hosted by crypto exchange LaToken on Jan 25. Roubini is also known for having predicted the 2008 financial crisis, earning him the moniker of Dr. Doom. Speaking during a panel at the Blockchain Economic Forum in Davos, Roubini defined blockchain as “the most overhyped technology ever,” while noting that Bitcoin and other cryptocurrencies are the mother of all bubbles. He also pointed out during the talk that blockchain and crypto have nothing to do with fintech and private distributed ledger …

Amid a seemingly constant stream of new concepts claiming to be key to crypto to breaking through to the financial mainstream, one immovable issue remains ever-present: scalability. The crypto community is abuzz with new projects relating to the issue, from the Bitcoin (BTC) Lightning Network to a brand new cryptocurrency designed by some of the top names in crypto and American academia. Cointelegraph takes a look at the latest scalability developments and what they can bring to blockchain and crypto. Some of the United States’ finest academic and technological have come together in a new project aiming to launch a …

A number of online crowdfunding sites and wallet providers have been embroiled in controversy after a series of high-profile account cancellations associated with alt- and far-right views. Although the move to “deplatform” those seen to be allegedly promoting hate speech has received popular support, several high-profile political commentators and libertarian media personalities consider this to constitute and unacceptable assault on free speech. As a result, some of the online crowdfunding platform Patreon’s top content creators decided to leave the platform in favor of Bitcoin funding, each taking with them tens of thousands of dollars in monthly revenue. As the furore …

An assemblyman of the New York state (NYS) legislature announced in a Facebook post on Jan. 3 that the state will have the nation’s “first” cryptocurrency task force. In the post, Clyde Vanel, an NYS assemblyman and Chair of Subcommittee on Internet and New Technologies, stated that New York became the first state in the United States (U.S.) to create a cryptocurrency task force aimed at studying the regulation, use, and definition of digital currency. The governor Andrew Cuomo signed the bill dubbed “The Digital Currency Study Bill” into law on Dec. 21, 2018. Back in June, the banks committee …

Henri Arslanian, the Asia fintech and crypto leader of PricewaterhouseCoopers (PwC) Hong Kong, has predicted that many institutional players will enter the crypto industry in 2019. Arslanian made this claim during an interview with Bloomberg published on Dec. 24. When asked about his outlook on crypto for the next year, Arslanian said that he thinks “there’s a lot of exciting things that the crypto ecosystem is looking forward to in 2019.” Arslain explained that he expects the next year to be different from 2018 because of the increasing regulatory clarity. Arslanian also declared that he expects “many more big banks” …

A Japanese fintech company has unveiled a system that is designed to address the price volatility seen when cryptocurrencies are used for remittances. Atom Solutions says that, at present, the options for foreign workers who need to make overseas remittances are imperfect. While costs can be high when they try to complete transactions through a traditional bank, an entirely different issue altogether comes to the fore when crypto is used. Because of the wild fluctuations seen in the marketplace — from Bitcoin and Ethereum to lesser-known altcoins — the value of a remittance can fall dramatically in a short space …

The Chinese fintech incubation zone located in the Guangdong province has officially started its operations, Chinese news outlet Chinese Software Developer Network (CSDN) reports Dec. 21. According to the article, the zone — which officially opened Dec. 20 — has a total area of 120 square kilometers and already hosts the headquarters of over 20 companies. The zone and its administration will reportedly offer the companies project financing, office space and policy guidelines, and will overall “promote the transformation and application of technological achievements.” CSDN notes that the Guangdong financial high-tech zone will “focus on the major needs and major …

A fintech company is taking on the retail trading industry and giving crypto owners the opportunity to use digital currencies as collateral and to trade across markets with fiat funds — avoiding any commissions or fees. Quantfury says its mission is to make the markets “absolutely transparent and fair” while giving crypto enthusiasts an opportunity to use their assets in a new way. The startup tackles the opacity seen in some financial institutions — places where “retail brokerages speculative crypto exchanges bet against clients with artificially adjusted prices, spreads and unrealistic fees.” According to Quantfury, it offers access to more …

Fintech is believed to be a “systemic risk” to the broader economy, according to a survey conducted by the United States Depository Trust and Clearing Corporation (DTCC), Dec. 11. 20 percent of respondents to the so-called “DTCC Systemic Risk Barometer,” identified fintech among the system risks for the global economy in 2019. The results are up from 15 percent in last year’s survey. Stephen Scharf, DTCC’s Managing Director and Chief Security Officer, declared that the increased concern over fintech “demonstrates a growing awareness of the potential risk and highlights the need to evaluate both risks and rewards associated with fintech …

Crypto-friendly fintech startup Revolut has obtained a banking license in Lithuania, technology news outlet TechCrunch reported Dec. 12. As the report states, the startup obtained a license through the Bank of Lithuania and “is leveraging passporting rules to operate in other European countries.” The mentioned “passport rules” are laws permitting the operation of banks that are part of the European free market on the territory of other member states. In the coming months, Revolut’s users in the United Kingdom, France, Germany, and Poland are expected to get a “true current account and a non-prepaid debit card.” Additionally, users’ deposits will …

SolarisBank and Stuttgart Exchange Group are jointly developing infrastructure for a cryptocurrency exchange, Cointelegraph Germany reports Dec. 12. The Stuttgart Exchange, founded in 1860, is the second-largest stock exchange in Germany and the ninth-largest in Europe. SolarisBank, on the other hand, is a German fintech company established in 2015 that holds a banking license and offers a “Banking as a Platform” service. This news goes along with the plans announced by the exchange in May to release a zero-fee cryptocurrency trading application. The two companies’ crypto exchange, “which is scheduled to launch in the first half of 2019,” will have …

The director and chief executive of the Nigeria Deposit Insurance Corporation (NDIC) has expressed concerns about cryptocurrencies and disintermediation, English-language Nigerian news outlet The Sun reported Dec. 12. Disintermediation is when consumers begin investing directly in markets, rather than through intermediates like banks. The NDIC was established in 1988 to ensure safety in the just-liberalized banking sector. This corporation has a supervisory role over insured banks and it reports to the Nigerian Federal Ministry of Finance. During an NDIC forum, Ibrahim Umaru described his concerns about Bitcoin (BTC), disintermediation and fintech in general: “The partial disintermediation of the banking system …