The latest blockchain news seems to be creating a trouble within the community as financial leaders predict that its significant impact will take quite a long time to reach the user. It probably will need a handful of years for the potential benefits of fintech to come in existence with a transformation in the ecosystem as well.
The recent conference for SIFMA (the Commodity Futures Trading Commission and the Securities Industry Trade Group) unveiled a lot of intriguing facts about the blockchain technology which looks quite different from what is being projected all over. The eminent speakers at the event unanimously agreed to the fact that blockchain advantages will take time to get aligned with everyday realities. (Via Forbes)
Cathy Bessant, the Chief Technical officer in Bank of America, stated that the actual impact of ledger based technology doesn’t match with the hype created. Indeed, she acknowledged the underlying potential of this technology and its capability of transformation but it is yet to establish its value to the users. In addition to this, she asserted the fact that the technology is still evolving and developing, therefore, there are many things unproven on the ground reality.
As per Blockchain news, besides blockchain technology, she heavily condemned the fascination of artificial intelligence (AI). She mentioned that it is a human creation and hence it must not be considered superior or an alternative to the human brain, according to Bitcoin Exchange Guide.
Blockchain V/S Artificial Intelligence
The fintech developments are in their budding stages as of now and the robotic suggestions constrained in making a crucial decision. However, blockchain is taking baby steps towards a better progression with acceptance in the existing systems, but their viability is yet to be checked.
The updated blockchain news in the market seems convincing about the fact that it is preferred but a complete integration seems pretty far.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]