Bitcoin is the first decentralized currency in the world and it attracts more and more attention over the last couple of years. Bitcoin functions with the help of blockchain technology, which itself bases on the chain of transactions blocks. The information about those transactions updates at all devices in the world simultaneously.
As banks are increasingly moving towards specialized solutions to meet complex client needs, there is a need to redesign the channel solutions/architecture. Many IT vendors envisaged this change and are building solutions for the future in the form of a comprehensive channel platform offering.
Bitcoin has been formally recognized by some governments and authorities as a "currency", but in practice, Bitcoin is no different than accepting payment in other forms such as cash or gold or scrip or gift cards or foreign currency.
Banks are going through significant changes. In consumer/retail banking, customers want multiple interaction and banking possibilities with a clear focus on digital and mobile banking services.
The global ecommerce market is in a state of both expansion and consolidation. More consumers than ever before are buying digitally, and worldwide retail ecommerce sales are rising. At the same time, major international players like Amazon and Alibaba are widening their reach by buying up smaller local platforms, especially in burgeoning ecommerce markets.
Enterprise information technology (IT) departments are coming under greater pressure than ever to reduce infrastructure costs, manage capital expenditures, and consolidate operations, while at the same time providing higher and more sophisticated levels of service and support to the lines of business. To manage these seemingly competing forces, IT executives are increasingly turning to a new wave of solutions that can reduce costs and footprints while providing a more flexible, efficient, and automated method for delivering applications to end users. Chief among these is cloud computing.
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