Category: Finance

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Crypto Finance News

German Companies Are Skeptical Regarding Blockchain Technology And Cryptocurrencies, A PwC Survey Showed

Hardly any German financial services provider intends to move forward as a pioneer in blockchain and cryptocurrencies. These are the results of a PwC survey among managers of 300 banks, insurers and asset managers published this month.

Half of the managers surveyed consider the blockchain technology to be of little or no relevance

Moreover, every second company has little or no knowledge of the blockchain. Technology plays no role in the strategic plan at more than two-thirds of companies. Also, three-quarters of those surveyed invest practically no money or less than 10,000 Euros, in this technology.

In summary, it can be said that the blockchain technology is not a part of the plans of the German companies.

On the other hand, only three percent of German financial service providers already use blockchain technology or want to do so shortly.

With the blockchain, there is a noticeable gap between the public hype and the question of how far the financial service providers are actually already with their plans for a real application.

Dr. Thomas Schonfeld, the PwC Director in Germany

The blockchain technology will change the banking and financial industries within ten years from now

But the blockchain will change the financial sector within ten years from now, especially on issues such as improving information security and fraud detection. One in three companies admits this, according to the PwC survey.

In practice, however, only two percent of those surveyed want to be the first to use the technology productively. Almost half of all managers surveyed are satisfied if they introduce the blockchain at the same time as their main competitors.

Financial service providers are also skeptical about cryptocurrencies

Only two percent of the managers surveyed stated that their company is already dealing with cryptocurrencies. The vast majority want to keep their hands off these digital assets.

However, Dr. Thomas Schonfeld is convinced that companies should already get involved in the topic of the blockchain technology.

The blockchain will change the financial industry – there can be little doubt about that. In this respect, companies are required to gradually set the strategic course for the blockchain era. If you want to be there in five or ten years, you have to start formulating your strategic goals now.

Dr. Thomas Schonfeld, the PwC Director in Germany

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Crypto Finance News

Central Bank Of Thailand Plans Adopting Blockchain Technology For Cross-Border Payments

The push for the adoption of Blockchain technology in Thailand’s banking sector appears to be unstoppable. The Governor of the Bank of Thailand (BoT), Dr. Veerathai Santiprabhob, at the ASEN Bloomberg Business Summit, disclosed that the Central Bank was carrying out a thorough examination of blockchain applications for authentication of documents, financing of the supply chain, and cross-border payments.

“The Sandbox serves as a platform for FinTech financial institutions and firms to test new technologies and operating standards in a secure environment before products and services are released to the general public,” said Santiprabhob.

The Governor of the Bank of Thailand also asserted that there is a secure attachment on the part of the Central Bank to the region’s connectivity with the world. The Bank considers the use of Blockchain for cross-border payments as a way of enhancing the financial sector in Thailand.

Central Bank of Thailand has the goal to adopt blockchain technology for cross-border payments and back-office activities

Earlier this July, Santiprabhob announced that he was collaborating with the country’s banking sector under Thailand’s Blockchain Community Initiative to harness blockchain technology in the financial system. This effort gathered 14 commercial banks, as well as seven state and private enterprises.

The governor of the BoT also considers that Blockchain has an essential role to play in mitigating fraudulent activity and safeguarding financial information.

“The adoption of modern technologies such as biometrics and Blockchain can help safeguard financial information and reduce the number and scale of fraudulent activity,” said Santiprabhob.

“The Bank of Thailand is also undertaking regulatory reform to review obsolete rules and regulations, to facilitate trade and to ensure that our regulations do not impede competition and innovation and also contribute to the high costs of financial services,” the Governor added during the ASEN Bloomberg Business Summit.

Ultimately, the Central Bank of Thailand’s purpose would be to use blockchain technology for cross-border payments and back-office activities.

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Finance News

O2, Vodafone, EE and Their Best Plans for Business

We all have our preferences when it comes to phone usage. Some of us spend a lot of time browsing through the internet or chatting on the social media, while for others the primary purpose of a phone is to talk or send text messages. Many of us travel frequently and nowadays it is virtually impossible to do so without having any mobile device. It is highly important to know exactly what type of deal we need while choosing a business plan for a phone. In this article we will take a closer look at three of the best options available right now in the UK: O2, Vodafone and EE (all offering a 12-month contract and unlimited minutes and texts in the UK).

O2 – £26 plan

This is the most expensive of the three presented plans, but still, it provides great value for money. It will give you unlimited minutes and texts in the UK plus a huge package of data – 32GB. However, the most impressive are its EU allowances: unlimited minutes and texts (although a fair usage of 2,000 minutes and 2,000 applies here), and 3GB of data within the EU. Considering the additional 120 minutes to call EU countries, this plan is tailor-made for those of you who travel a lot to other European countries. There is also a possibility of signing up for an optional, 30-day contract, which costs only £2 more per month.

Vodafone – £20 plan

Cheaper than O2’s £26 plan, Vodafone’s Red Bundle offers comparable, if not better, international allowances: unlimited minutes and texts in the EU plus 4GB of data. Additionally, the WorldTraveller option, which costs only £5 per day of usage, allows you to use your UK minutes or texts in 58 other countries worldwide. When it comes to data, this plan will give you 20GB, which is a lot for just £20.

EE – £17 plan

This package offers a very good deal for all passionate users of the internet: 15GB of data through a superfast 4GEE network. Moreover, tethering and VOIP are allowed. Another great advantage of this plan is the possibility of sharing the allowances with up to three co-workers.

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Finance News

Important California Driving Laws You Should Know

Whether you’re getting a California driver’s license for the first time or you are a veteran driver, brushing up on the state traffic laws is never a bad idea. While laws for drivers are about the same in most states, it’s important to be familiar with any unique traffic regulations where you live. Here are XX of the most important California driving laws to keep in mind next time you hit the road.

Phone Mount Laws

In response to drivers who had their traffic ticket lawyer argue a distracted driving ticket by claiming they were holding the phone to use the GPS feature, a new law now requires drivers to use the GPS only when the phone is mounted. The mount must be placed on the dashboard or on the lower right or lower left corner of the windshield. In addition, monitors that are visible to the driver are allowed to show only traffic information, music player, or satellite radio information.

Smoking Restriction

It is illegal to smoke with a minor in the car in California. Breaking this law carries a fine of $100. However, a vehicle cannot be stopped strictly for smoking unless the officer suspects or has witnessed another driving offense.

Cannabis Use

As many states including California legalize marijuana for medical and recreational use, lawmakers must consider the effects of cannabis use behind the wheel. This 2018 law makes it illegal to smoke, vape, and otherwise consume marijuana while driving or riding in a vehicle.

Restrictions for Uber and Lyft Drivers

Drivers who earn money by transporting passengers through a third-party such as Uber and Lyft now must maintain a blood alcohol level of no higher than .04 while doing so, half of the .08 blood alcohol level allowed for drivers in general. This holds those who make money while driving others to increased safety standards.

Right Turn on Red

California is one of a few states where it’s legal to make a right turn on a red light as long as no other vehicles are approaching. Be aware of signs that indicate the exceptions, since you can be ticketed for making a right turn on red at prohibited intersections.

Passing on the Inside

In many states, the left lane is reserved as the passing lane. In California, however, it’s OK to pass in either lane as long as you do so safely. Make sure the lane is properly marked and does not have passing restrictions before passing another car.

HOV Decal Program

Starting in 2019, those who drive a low-emissions vehicle will be allowed to use the carpool lane regardless of the number of passengers. In addition, drivers who have green or white carpool lane decals issued in 2017 and 2018 must apply for a new decal before January 1, 2019.

If you need a traffic ticket lawyer San Francisco, get in touch with our team of attorneys. They can help advocate for your rights if you’ve been accused of a traffic offense.

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Finance News

Do Business Laws Differ Between States?

If you are looking to start your own business, you are most likely trying to learn everything you can about setup, along with the laws associated with the type of business you wish to create. There is much to learn and for newbies, it is odd to learn that business laws vary from state to state. Depending on where you live, you may notice that business and corporate laws vary, which might make one state easier to start a business in than another. Despite any law differences, one common factor that every state has is a federal tax ID. No matter where you base your business, you will need to file for a tax ID with the US government.

Filing Process

So now, you are probably asking yourself what the process for filing is and how to get a federal tax ID for your business. The process is simple. With the help of Gov Doc Filing, you can fill out an application for a federal tax ID in just a few minutes and the site does the work for you. No visiting any government building or making a ton of phone calls to find out what you need to do. Simply choose your business type and then fill out a few forms and you will soon have your new ID number.

Choosing Your Entity

After you have decided to incorporate your business, you will need to choose your business type when filing for a tax ID number. The best way to do this is by choosing an LLC. With an LLC, you will have easier tax rules to follow, which will help you during tax filing season. An LLC online filing is easy to complete and will result in your business having a tax ID that can be used for identification purposes as well as all tax needs.

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