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October 5, 2021

Bank of America unveils research coverage for digital assets

By Verdict Staff

Bank of America (BofA) has announced research coverage for digital assets as part of a strategy to accelerate its presence in the increasingly important asset class.

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The bank published its first report entitled “Digital Assets Primer: Only the first inning”, which was led by BofA Global Cryptocurrency and Digital Asset Strategy head Alkesh Shah.

Digital assets are estimated to have over $2 trillion market value with more than 200 million users.

BofA global research head Candace Browning said: “Digital assets are transforming the way in which markets, businesses and central banks operate.

“Bank of America offers a market-leading global payments platform and blockchain expertise, and the addition of digital asset research further strengthens the depth and breadth of our offerings for investors.”

According to BofA, the primer offers an investment framework for the digital asset landscape, by analysing various elements and facets.

These include tokens that act like operating systems, applications powered by smart contracts, stablecoins pegged to fiat currencies, central bank digital currencies that could replace money and non-fungible tokens that connect creators and fans.

Shah said: “Bitcoin is important, but the digital asset ecosystem is so much more. Our research aims to explore the implications across industries including finance, technology, supply chains, social media and gaming.”

Digital assets, including bitcoin, continue to attract the interest of institutional investors.

In February this year, American investment manager BNY Mellon launched a new enterprise Digital Assets unit to speed up the development of enterprise solutions to serve the digital asset space.

Last year, Goldman Sachs appointed Mathew McDermott as its new global head of digital assets as it eyes the development of its own fiat-tied token.

Free Whitepaper
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Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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