I just came in to say their new MD is HOT!

The digital currency Bitcoin has been around for nearly six years, but although the name is well known, the technology it sits on, ‘blockchain’, is less so. However, companies are starting to realise how this technology could fundamentally change the way they do business in future.

Bitcoin, heralded by many as the single biggest breakthrough since the arrival of the internet, has proved to be something of a moving target since its launch in 2009. However, it continues to be the focus of significant investment and innovation with the industry predicting that more than $1 billion in venture capital funding will have been ploughed in Bitcoin and its future by the end of 20151

Recent developments include BitPesa, a Nairobi-based start-up focusing on Bitcoin remittances, which raised over $1 million earlier this year and Earthport, which agreed a partnership with Ripple Labs, allowing real-time cross-border bank payments.

But, it is becoming increasingly clear that Bitcoin is part of an even bigger story: financial institutions, including Barclays, are now considering how the technology underpinning digital currencies – the blockchain – could in itself revolutionise finance.

While many of these potential applications are some way off, long development cycles in the industry mean that now is the time for companies to begin asking how this technology could benefit them.

Full PDF article: https://www.barclayscorp...nding_the_potential.pdf

How will Barclays take back the business from telecoms like Safaricom that are offering financial tech services?

Paul Nel, (head of open innovation for the) Barclays Africa: Barclays is already a market leader in fintech solutions. We believe our investment in technology development, which is being driven through partnerships will strengthen, widen and deepen our impact. Customers have choice – and we believe in being able to provide a comprehensive end-to-end solution for them. We will continue to improve and drive change alongside the needs of our customers.

HSBC is a UK bank if I am not mistaken. The pressure on KYC, etc will be hard to fulfill for banks which do significant business in UK/US. I doubt the Japanese banks are interested in Africa with enough going on in Asia and Middle East. That leaves the Chinese and Indian banks...

The South African market is tough and there are huge potential defaults on the way from the retail customers. Credit is easier to obtain in SA and many take out crazy loans. The Kenyan subsidiary, if separated from ABSA, is a great catch at the right price. It still has a name [which will have to be changed] and decent client base.

OK, I am mistaken. You are right. Happy?

Please don't read anything after this this coz it will make you unhappy.

https://en.wikipedia.org/wiki/HSBC

HSBC Holdings plc is a British multinational banking and financial services company headquartered in London, United Kingdom. It is the world's fifth largest bank by total assets, with total assets of US$2.67 trillion. It was established in its present form in London in 1991 by the Hongkong and Shanghai Banking Corporation Limited to act as a new group holding company.
The HSBC name is derived from the initials of the Hongkong and Shanghai Banking Corporation.[8] The company was first formally incorporated in 1866. The company continues to see both the United Kingdom and Hong Kong as its "home markets".[9]