Single Global Currency Like BTC Faces Insurmountable Obstacles, Argues Payments Firm CEO

Scott Galit, CEO of New York-headquartered payments processing firm Payoneer, says a single global, non-fiat currency such as Bitcoin (BTC) is unrealistic. Galit made his remarks during an interview with CNBC published on Dec. 28. Payoneer is a financial services company that provides cross-border money digital payment support for businesses and professionals across 200 countries, and was named CNBC’s thirteenth most disruptive company of 2018. Galit built his argument against frictionless commerce, money and avoiding fiat currencies becoming a reality on two main points — the opposition of national governments…

Deloitte Outlines Five Major Obstacles to Blockchain’s Mainstream Adoption

“Big Four” audit and consulting firm Deloitte has outlined five basic areas of development for blockchain technology in order achieve widespread adoption, according to a study published September 28. According to Deloitte, in order to be adopted by enterprises on a mass scale, blockchain technology should overcome five major obstacles – the possibility of time-consuming operations, lack of standardization, high costs and complexity blockchain applications, regulatory uncertainty, as well as the absence of collaboration between blockchain-related firms. Identifying the area that needs the most development, Deloitte singled out the problem…