Blockchain Tech is (Finally) Taking Shape in the Financial Industry
Far from just an exciting idea, blockchain technology is finally shaping up into investments and solutions. Just look at the financial sector.
August 23, 2018 at 12:40 PM
4 minute read
The financial industry has been interested in blockchain technology for years, but only recently has such interest materialized into actual solutions and investments. At the “Real World Blockchain Solutions session of ILTACON 2018,” financial and legal professionals discussed just the novel technology is finally taking shape.
American Express's Strategic Investment
While American Express hasn't launched any blockchain applications of its own, with a recent investment, the financial company is positioning itself to leverage the technology in the near future. In 2015, the company invested an undisclosed amount in Abra, a peer-to-peer digital currency investment app that allows individuals to transfer Bitcoin funds to one another.
Andrew Brereton, vice president of operations in the general counsel office at American Express, said that purchasing equity in Abra “was very much a strategic investment” for American Express.
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