Fintech-digest: Central Bank speeds up the collection of customers' biometrics, cryptocurrency is falling, and the volume of the Internet of things market is growing
In our today's digest today such news:
- The Central Bank calls on banks to speed up the collection of biometric customer data;
- The Internet of Things is gradually increasing its pace, the market volume is increasing;
- The market cryptocurrency for the week fell to new anti-records;
- States continue to fear digital currencies.
Securities and biometric data of bank customers
The Bank of Russia encourages various credit organizations to collect biometric customer data as quickly as possible for their use in the provision of remote banking services. We already wrote about this in one of the digests, but now the Central Bank wants to speed up the collection of necessary information about customers.
They are represented in the Unified Biometric System of 14 banks with branches in 121 cities. At the moment, this system contains data of only about 1.2 thousand people. At the same time, representatives of banks argue that they are effectively hampered by the lack of a clear list of equipment that must be used when collecting biometrics.
The volume of the Internet of things market is gradually growing.
Experts from the company Bain & Company argue that by 2021, the global market for the Internet of things should exceed twice the current volume. The figure, which analysts call, excites the imagination - it is $ 520 billion.
As for the problems, they also exist. Experts consider as obstacles the concerns of customers of various services about the security of data transmission and storage. About 22% of surveyed corporate customers are not against acquiring new IoT technologies in the event that the storage of data there will be organized properly.
For two weeks, cryptocurrencies fell by 20%
Recently, the cryptocurrency market began to intensify, and supporters of digital money vied with each other that the price of the same bitcoin against the dollar would reach $ 50,000. But the reality turned out to be different.
The cost of not only Bitcoin, but also other popular cryptocurrencies has fallen . For example, Ethereum fell by 2.5%, XRP - by 6.9%, Stella - by 6%. The total capitalization of the cryptocurrency market fell from $ 300 billion to $ 250 billion.
States continue to fear digital money
Not only in Russia, officials fear the negative impact of cryptocurrency. In other countries, it is also afraid . After all, Bitcoin, and behind it, altcoins became alternative financial instruments, which, moreover, do not need the notion of “trust between partners”. All transactions are checked automatically.
Governments of different countries avoid Bitcoins and Altcoins as payment instruments that criminals will use - arms dealers, drug dealers, terrorists, etc. Actually, there is some truth in this, but without cryptocurrency criminal elements will find how to circumvent the law.