▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
What is RegTech?
RegTech is the management of regulation, compliance, reporting and monitoring through technologies such as big data, data mining, artificial intelligence, and blockchain to provide robust, reliable and effective solutions.
How does blockchain work in banking?
Blockchain is a decentralized distributed ledger consisting of blocks containing transaction records that are stored using cryptography. In addition to payments, blockchain allows banks to streamline complex procedures and improve internal processes.
How does blockchain disrupt the RegTech ecosystem?
Blockchain previously played a major role in driving the regtech revolution, thanks to its multiple benefits: increased transparency, decentralization, faster and more cost-effective processing through automation and increased security through cryptography.
What are the key areas where blockchain adds value to the RegTech ecosystem?
Financial regulators and service providers seek the best and most cost-effective solutions to help banks and other financial institutions comply with regulations and conduct business in an appropriate regulatory environment.
Recording
Storing data and then retrieving it can be challenging for internal uses such as auditing and operational use, but failing to protect it from hackers is also a major concern for financial institutions.
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▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
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