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New Zealand Bank Shares Belief in Blockchain

SBS Bank in New Zealand seems to be considering using blockchain technology as a way to provide an improved user experience for their clients.

While some financial institutions are vehemently denying their customers’ interest in cryptocurrencies, New Zealand’s SBS Bank is taking a more pro-active approach.

According to The Southland Times, virtual currencies and blockchain technology were two of the topics discussed at the bank’s recent annual meeting. While the former still has the power to elicit skepticism, the latter is definitely a keen point of interest. The bank’s group chief executive, Shaun Drylie, explained:

We think, and the common consensus is, that it has real merit. Cryptocurrencies, we’re not too sure, and if you look at the volatility of cryptocurrencies that would suggest the market is not too sure as well.

However, this does not mean that there won’t be a possible place for cryptocurrencies in the bank’s future. Drylie added:

We’re keeping a close eye on it, but it’s very hard to pick where it’s going to go long term.

SBS chief executive, Shaun Drylie

Banking for All

Exploring the uses of blockchain technology is part of the institution’s plan to make banking more efficient for its existing clientele and more inclusive for its potential customers. They hope to provide a comprehensive banking experience to those clients who have limited access to their physical branches.

Financial inclusivity is a popular term when discussing the benefits of blockchain. This could be in the form of allowing the unbanked population, or those with restricted access to economic assistance, to easily get credit or apply for a loan.

All of the applicant’s information could be stored and easily accessed via the distributed ledger, making the reams of paper seemingly synonymous with loan applications a thing of the past. With SBS seeing an 11 percent increase in loan approvals, this could be where blockchain could make a difference.

No Stranger to Blockchain

This is not the first bank in the country that has turned to blockchain technology. The Australia and New Zealand Banking Group (ANZ) and IBM have previously collaborated to create a more systematic and efficient solution to insurance reconciliation processes. The financial institution also used blockchain to digitize their previously paper-based bank guarantee process.

However, interest may soon turn more to virtual currencies with the possible introduction of Bitcoin ETFs. Major player Cboe Global Markets has filed an application with The US Securities and Exchange Commission (SEC) for approval thereof. Bitcoin futures trading, which began late last year, has also seen growth since it launched.

Do you think that more banks will turn to blockchain technology to replace their paper-based systems? Let us know in the comments below!

Images courtesy of John Hawkins/Stuff, AdobeStock

Úno 10

Online Gambling Made Easier by OnlineCasinoGuide

Source: bitcoin

online gambling

The online gambling scene in New Zealand is filled with different casinos where players can take their money. However, it isn’t always easy to pick the safest websites; and how are you supposed to keep track of the odds across all the different casinos? OnlineCasinoGuide aims to make these obstacles easier to navigate.

Disclaimer: This is a sponsored story. Bitcoinist is not responsible for this company’s products and/or services.

New Zealand’s Online Gambling Guide

OnlineCasinoGuide conducts research on New Zealands online gaming platforms, using “unbiased gambling experts” to help players “find out where to choose, play and win at your favorite casino games like craps, slots, baccarat, blackjack or video poke.”

From this research, OnlineCasinoGuide’s experts rate New Zealand’s gambling websites to ensure that players get the best experience. The experts also help gamblers craft strategies to increase their odds of winning, so they can go into a game with a plan instead of just throwing their money away.

In rating casinos, the OnlineCasinoGuide researchers prioritize security, customer service, and games variety. These experts first make sure that all casinos have security verifications from McAfee, VeriSign, MicroGaming, SSL, eCorga and Anti-Spam. After those basic verifications are confirmed, the OnlineCasinoGuide goes after the casinos’ internal security, putting stress on their customer support members. According to OnlineCasinoGuide, “all that is done in sake [sic] of the players’ confidence.”

After rating security, the researchers go after the casinos’ banking services and reputation. Making sure they have proper transaction infrastructure, the OnlineCasinoGuide testers analyze websites’ “money transfer options, their functionality [and] effectiveness.” To make sure a casino has a legitimate reputation, researchers dig into its domain history, analyzing the websites ranking. OnlineCasinoGuide makes sure that is listed sites haven’t tampered with their visitor count through “cheating” or “counter advertising,” and also ensures that staff has a history of good customer service.

Bonuses and Games Variety also top the list of OnlineCasinoGuide’s priorities when researching New Zealand’s online gambling scene. The experts say that looking at a casino’s bonus system is important because it can be a gauge of fraudulent activity going on behind the scenes. Researchers also say that variety can be a sign of a legitimate casino, because “fraudsters cannot possibly fill the web site with hundreds of different featured games of excellent quality.”

OnlineCasinoGuide doesn’t stop at finding the best websites, it also looks for the worst ones to put on its “black list” so you don’t find yourself risking your money at a shady gambling site.

In its “8 Tips How To Win More,” OnlineCasinoGuide has a generalized plan for New Zealand players looking to increase their chances of winning. There are no tricks or gimmicks involved in winning. Instead, OnlineCasinoGuide stresses using smart gambling strategies and picking the most reputable websites. The 8 main tips for winning more are as follows:

  • Carefully read the rules of the system
  • Pay attention to the casino clientele
  • Play on smaller amounts
  • Use the best money transfer options
  • Seek niche casinos
  • Progressive jackpots
  • Casino’s age
  • Transparency matters

When it comes down to it, OnlineCasinoGuide recognizes that gambling can become a problem for some people. Therefore, instead of leaving their readers with a list of good casinos and tips on how to “win more,” they also provide links to recommended New Zealand organizations that can help people with gambling addiction or other gambling-related problems.

For more information about OnlineCasinoGuide, visit their website.

What do you think about OnlineCasinoGuide? Let us know in the comments below

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Online Gambling Made Easier by OnlineCasinoGuide