Former CFTC Official: Barack Obama ‘Should Heed the Call’ on Bitcoin
The #Obama administration #should move quickly to embrace #bitcoin and #blockchain #technology, a #former government regulator has argued in a new op-ed.
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Updates from May, 2016 Toggle Comment Threads | Keyboard Shortcuts
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State of Blockchain Q1 2016: Blockchain Funding Overtakes Bitcoin
CoinDesk has released its latest “#State of #Blockchain” report, analyzing news and events from Q1 #2016.
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Wielding the baton: How CIOs can best orchestrate FinTech innovation
“How did you do that?” “What do you need to be successful?”
Since leaving UBS I have been hearing these questions often from people interested in my experiences orchestrating #FinTech innovation. Typically the questioner is someone facing challenges similar to the ones I have faced in my career as a Chief Information officer (CIO): not just innovation, but innovation in a complex, global organization, with multiple business lines and geographies.
My answer always runs along the same lines. As a CIO you must first keep in mind that business is in the driver’s seat: innovation is not a tech play, it’s a business model, product and service one. But in today’s tech-driven environment, the CIO generally has the conductor’s baton in his or her hand. That means it’s up to you to orchestrate the change. You need to do so from front-to-back, covering all aspects from generating ideas to going to market.
Having done this several times, I’ve thought a lot about the process. For me, the following stages are essential:
Illustration: Jon D. Harper – Strategy and Innovation Process Improvements
- Find key trends: You need to know what is coming down the pike in tech, and how it may be used in the context of your organization.
- Understand business priorities: You must thoroughly understand where the business is today and, more crucially, where it would like to be in three to five years.
- Decide on the tech you would like to test like a VC fund: Now you can match what you know about technological developments with what you know about the business. Look for developments with the best potential in your context, be it new technologies, methodologies, software, approaches, whatever seems like it might fit and drive the business forward. Based on this, you can decide on a long list of ideas to be tested.
- Validate your hypotheses: This is the key part: Get some funding and put a small team together, preferably outside normal business lines, and test the ideas in a sandboxed laboratory environment. Do it quickly but thoroughly, in a non-bureaucratic way, but always with the business and customers in mind.
- Move validated ideas to the normal investment portfolio: A lot of your initial hypotheses may prove wrong. That’s fine. The ones that make it through the process are likely to be gems. If the expected benefits are indeed confirmed, then move those ideas to your normal investment portfolio, where they can be developed using your regular processes.
There are some other things to keep in mind. You will have to coordinate a number of support services. You need to manage your ecosystem, for instance, from startups and universities through to the regulator. The research, business case and use case selection processes need to be managed as well . You also need to manage and be active on the communications side. And finally, you need to ensure that once new capabilities are available, line managers can easily find out what they are and integrate them into their portfolios.
In other words, you will need a complete framework for your innovation efforts. And whether you work in a centralized way or take a more distributed, federalized approach, you will need teams to manage the overall process.
This process has worked well for me in the past. It’s one of the reasons I was lucky enough to be named among the Financial News’s FinTech Top 40 for the last two years and City AM FinTech Powerlist. While this is a satisfying confirmation of the work, there is really nothing here that anyone else couldn’t do. Just stick to the method, and the results will come.
This post express the opinion of the author: Oliver Bussmann that originally posted it on linkedin
Follow Oliver Bussmann on Twitter @obussmann.
Image source: http://www.stripes.com
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One of Ripple’s Early Supporters is Now Using Ethereum to Rethink Banking
Fidor Bank CIO Patrick Gruban takes CoinDesk inside a recent tech trial it conducted #using the #Ethereum #blockchain.
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New Trade Journal Software With Hedge Fund Reporting Capabilities to be launched
Los Angeles, CA – May, 2016JournalSqrd is a digital software that allows traders to run fund-style reports and analytics with their own logo, own data. In seconds traders can plug into the system, upload a logo, and run a number of different reports that look how they want, and then send them off to clients, potential clients, employers in a few clicks.
New startup JournalSqrd has launched a rewards campaign via IndieGoGo to finish development of their revolutionary #technology for traders. The company set out to raise $15,000 to finish development of the software that will give access to every trader tools that are normally reserved for large funds.
You can view the campaign here:
https://igg.me/at/journalsqrd/x/13744018
“As a trader myself, I know the challenges of running your business and marketing your performance. I wanted to give traders a tool similar to those used by billion dollar hedge funds, without them having to spend tens or even hundreds of thousands of dollars creating it.”
Are you looking for a tool that will allow you to:
- Run over 100 analytics based upon your own trading
- Create fund-style reports with your own logo and your own performance
- Market your performance with reports created by hedge fund managers
As part of their campaign, JournalSqrd will be giving away a LIMITED NUMBER of memberships for very large discounts. Check out the campaign for more on membership options. The highlighted reward is your first 6-months membership for only $100 (which is a savings of $482 off of the normal membership price), but they are offering many other great options as well.
Since the launch of a small demo-site displaying just a few of the features of JournalSqrd, more than 1,000 people have signed up for beta access. Interest has come from hedge fund managers, financial advisors and independent traders. Check out the campaign, or feel free to contact them directly with questions.
Contact Information:
Justin Petsche
CEO/Co-Creator
You can find the campaign at:
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BitPagos uses the blockchain to enable credit for online payments in emerging markets
The world is familiar with #bitcoin being used for many things. #Online #payments, long-distance remittance, even a substitute for gold, but what about #credit? Not so much — and that’s where #BitPagos, a startup competing in the Battlefield pitch competition at TechCrunch Disrupt New York, wants to make its mark. Read More -
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NATO Innovation Contest Seeks Military Blockchain Applications
#NATO is on the lookout for #military-grade #blockchain proposals in a #technology #innovation #contest.
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Fintech Heaven & Hell
The British are the regulators
The Germans are in charge of faster payments in €
The Italians are in charge of valuations
The Swiss are responsible for paying out insurance claims
The Americans are the entrepreneurs
The Chinese finance the next wave of fintech startups
And the French are in charge of complianceFintech #Hell is Where:
The Swiss are the entrepreneurs
The British are in charge of faster payments in €
The Americans are the regulators
The Italians are responsible for paying out insurance claims
The Germans are in charge of valuations
The Chinese finance their own fintech startups
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10 Quotes That Defined Consensus 2016
Speakers from all over the world stole the show at the #Consensus #2016 #blockchain conference last week. Here are 10 #quotes that #defined the show.
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Supply Chain Startup Fluent Raises $1.65 Million in Seed Funding
#Fluent, a #startup focused on #supply #chain applications of the #blockchain, has raised a new #seed #funding round.
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