Allana's Avatar
published in Blogs
Feb 16, 2021

Bank Use Cases for Blockchain

How Banks Should be Using Blockchain

Blockchain is no longer just for cryptocurrency. Businesses of all types can enjoy its benefits, and banks are quickly adopting the technology to reach new markets, reduce transaction times, and become more efficient. Let’s examine different ways banks can use blockchain’s speed and security to enhance their businesses, as well as their customers’ experiences.

 

Trade Finance

Domestic and international trade transactions are typically manual, process-oriented, and detail-heavy. Assembling certain documents, like corporate trade financing letters of credit, means multiple, paper-based steps. Losing details in the cracks is a looming danger, and the process is laborious. This can make financing especially difficult for the roughly half of smaller enterprise businesses without credit.

“Smart” contracts built on blockchain allow parties to securely and automatically store, and quickly exchange, contract details in real-time. Streamlining coordination and processes means easier, safer, frictionless transactions between small enterprises, while the encrypted blockchain ledger tracks every transaction detail, permanently.

 

Privacy and Safety

Customers demand protection from identity theft – but not at the expense of a compromised user experience. Everyday banking practices, from opening a new account to transferring clients’ information between banks, requires strict identity confirmation, but repeated requests for identifying information means transaction delays, and potentially-annoyed clients.

Blockchain consolidates and stores all client identification, while not storing the actual information itself. Consumers can prove their identity through a thorough, initial verification process with their bank, and using managed access, choose to share (or not share) that information with other parties. The security and trust engendered by blockchain mean companies can approve this pre-verified information quickly and easily, leading to increased convenience for customers, and a better overall experience.

 

 

Payments

Digital payments are popular and increasingly safe, but sending money between individuals, especially internationally, remains an imperfect process. Exchange rates, border crossings, and varied institutions with different internal processes means delays as details are reconciled – not to mention high costs in the event of a dispute. Above all, it can be difficult to fully trust the parties involved when transacting in new or unfamiliar territories.

Blockchain imbues the transaction process with a measure of certainty for everyone involved. Each party can view the single, immutable ledger as it is updated – there is no confusion or forgotten details, as transactions are completed in real-time. The premium placed on security means lower risk for participants, and removal of inefficiencies allows for lower-cost, higher-volume transactions.

The future is bright for blockchain in the financial sector. Banks are rapidly discovering its benefits as they implement it to reduce inefficiencies, speed transaction times, engage with new markets, and provide a better, more-secure customer experience. These use cases appear to be the tip of the iceberg for blockchain in banking…and beyond.  

Want to Learn More? Access Tickeron’s Academy on tickeron.com to learn more about the cryptocurrency and blockchain revolution, and even how you can use algorithms and AI to invest.

John Jacques's Avatar
published in Blogs
May 16, 2022
A.I. Stock Market Predictions: Head & Shoulders

A.I. Stock Market Predictions: Head & Shoulders

Statistics for the Head-and-Shoulders Bottom Pattern The days where only hedge funds used algorithms to trade stocks are officially over. Now retail investors can use Artificial Intelligence (A.I.  Here’s an example of the algorithm in action: Late last year, Tickeron’s A.I.
Edward Flores's Avatar
published in Blogs
Apr 29, 2022
How to Become the Millionaire Next Door

How to Become the Millionaire Next Door

The Golden Gate Bridge is always a fixture of these walks too, one of man's most beautiful creations.  As we were walking, at one point she turned to me and said, "Man, I'll never have a million dollars."" My girlfriend is 27 years old and works as a graphic designer, making about $75,000 a year.
Sergey Savastiouk's Avatar
published in Blogs
May 16, 2022
When Is the Next Recession Coming?

When Is the Next Recession Coming?

However, we also know that economists predicted 22 recessions out of 11 that took place since 1945. Are there real recession signs we should watch for?Indeed, the answer is yes, and here are a few very important ones: The first one is almost obvious and known to everyone – it is the Fed.
Sergey Savastiouk's Avatar
published in Blogs
Mar 14, 2023
How to Start Trading Penny Stocks

How to Start Trading Penny Stocks

Penny stocks have long been marginalized within the professional investment community, oftentimes being painted with a broad brush of simply being “too risky.” Leonardo DiCaprio’s depiction of the penny stock peddling conman, Jordan Belfort, in the Wolf of Wall Street certainly didn’t help.Here are four reasons to start trading them now. Reason #1: Let’s State the Obvious -- Penny Stocks are Cheap A single share of Apple Inc. costs over $350.
Dmitry Perepelkin's Avatar
published in Blogs
Mar 14, 2023
5 Habits that Lead to Successful Investing

5 Habits that Lead to Successful Investing

To consistently make money in this industry, you need emotional fortitude, an analytical mind, and a willingness to self-reflect. Despite trading and investing being two different activities, these principles can be applied to both.Conversely, investors with good habits often become great traders.  Rather than full sentences for titles, we’ve labeled each of our top-five investing habits using a single word principle.
Allana's Avatar
published in Blogs
Mar 23, 2023
What’s the Difference Between Data Analytics and Machine Learning?

What’s the Difference Between Data Analytics and Machine Learning?

Artificial intelligence (AI) technology is developing rapidly.Data mining can deliver raw numbers, but it does not necessarily provide actionable insights. Structure is necessary to taking abstract information and extracting commonalities, like averages, ratios, and percentages.
Sergey Savastiouk's Avatar
published in Blogs
Mar 13, 2023
4 Tips for Fast, Effective Stock Analysis

4 Tips for Fast, Effective Stock Analysis

With just a few clicks, an investor can search for individual stocks, categories of stocks, sectors, or investment themes, and then he or she can conduct a full range of technical and fundamental analysis within seconds.All powered by Artificial Intelligence.  Below, we give you 5 tips for fast, effective stock analysis using Tickeron’s Screener.
Sergey Savastiouk's Avatar
published in Blogs
Mar 20, 2023
5 Golden Principles in Investing

5 Golden Principles in Investing

You have enough faith in that stock, based on research, that the return will equal or exceed the investment.  Do unto others.The principles outlined here will ensure that happens.  Principle #1: Diversification Investors can’t be one-dimensional when constructing a portfolio.
John Jacques's Avatar
published in Blogs
Mar 24, 2023
If Hedge Funds are Using AI to Invest, Why Shouldn’t You?

If Hedge Funds are Using AI to Invest, Why Shouldn’t You?

Some of the world’s biggest financial institutions have devoted multi-million dollar budgets to developing algorithms that can find patterns in the market, identify trends, and perform automated trading designed to take advantage of even the smallest price movements. The AI revolution is so big that as it stands today, the world’s five biggest hedge funds all use systems-based approaches to trade financial markets.Indeed, quantitative trading hedge funds now manage $918 billion (according to HFR), which amounts to 30% of the $3 trillion hedge fund industry – a percentage continues to grow with each year that passes.
Sergey Savastiouk's Avatar
published in Blogs
Mar 15, 2023
The five most important Lessons Learned After 10,000 hours of Trading