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The total number of <keyword id="14486030" type="General" weightage="20" keywordseo="Tokenised-payment" source="Orion">tokenised payment</keyword> transactions is likely to exceed 1 trillion globally by 2026, from 680 billion in 2022, a new report showed on Monday. This represents growth of 58 per cent over the next four years. The report attributed this growth to the rise of �one-click' solutions, such as Click-to-Pay, using card-on-file <keyword id="7203297" type="General" weightage="20" keywordseo="Tokenisation" source="Orion">tokenisation</keyword> to store a customer's payment credentials; enabling them to auto-fill their checkout details and complete transactions via a single click. Tokenisation protects customers' payment credentials when stored; replacing sensitive data with token values that hold no intrinsic value. This prevents malicious actors from gaining access to payment data in the event of a data breach. The report said that the online and mobile e-commerce tokenised volume will grow by 74 per cent by 2026. This growth is driven by the increasing customer expectation of a frictionless checkout experience, which one-click solutions via tokenisation offer. "Tokenisation growth is being driven by increasing adoption of one-click solutions by merchants within eCommerce to reduce friction, and by card networks, who are encouraging mass adoption of tokenisation at the network level to improve payment approval rates," the findings showed. Growth will also be driven by benefits, including time savings for the end user by eliminating the need for customers to re-enter payment credentials when shopping online, the report mentioned. The research also identified IoT payments as offering the largest growth among the tokenisation market over the next 5 years, with tokenised IoT transactions expected to reach 19 billion by 2027, growing 400 per cent from just 3.8 billion in 2022. "Tokenisation is critical in facilitating IoT payments; enabling transactions to be made via new use cases and form factors, unlocking new revenue opportunities for payment providers," it added. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-wilmar-cuts-fortune-oils-for-the-second-time-by-20/articleshow/92952328.cms">Adani Wilmar cuts Fortune oil’s for the second time, by ₹20</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/jindal-stainless-approved-to-supply-stainless-steel-for-272-km-long-usbrl-tunnel-project/articleshow/92952099.cms">Jindal Stainless approved to supply stainless steel for 272 km-long USBRL tunnel project</a>

Tokenised payment transactions to cross a trillion globally by 2026, says report

The Reserve Bank of India (<keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword>) is ready to bring its <keyword id="15011914" type="General" weightage="20" keywordseo="card-on-file-tokenisation-norms" source="Orion">card-on-file tokenisation norms</keyword> into effect from October 1 after various complaints were filed regarding the misuse of debit or credit cards. Several people were cheated in the last few years by cyber frauds because they have stored their card data on the merchants website for future payments. Lets us understand what these new norms are and why you should <keyword id="14818784" type="General" weightage="20" keywordseo="tokenise-your-card" source="Orion">tokenise your card</keyword>. Firstly, <keyword id="7203297" type="General" weightage="20" keywordseo="tokenisation" source="Orion">tokenisation</keyword> means the details of your cards such as 16-digit number, names, expiry dates and codes which you used to save earlier for the future payments will now be replaced by a token. The token is used by the merchant's website for the transaction. The RBI is implementing these norms of tokenisation in order to secure the card details of the customers. Currently, the bank card details are saved by a merchant during a transaction. If, the merchant's website is hacked, the details of the customers will be exposed. Post implementation of these norms all the customers data will be with the bank and not with the merchant website. Securing/Tokenisation also helps you save the hassle of inputting your complete card details each time. Customers need not have to pay any charges for availing this service. Post implementation of these norms, customers have to follow below mentioned steps to get their cards tokenised. Step 1: Visit your favourite online application/website to purchase grocery, pay bills or order food and initiate a transaction. Step 2: In the check-out page, select HDFC Bank Credit/Debit Card and provide CVV Step 3: Tick mark the check box "Secure your Card" or "Save Card as per RBI guidelines" Step 4: Enter the OTP received on your registered mobile number Step 5: Congratulations!!! Your card details are now secured. Once the customer tokenised their cards they will be able to recognise their details on the merchants website using the last 4 four digits of the cards, which is the only data the merchant will be able to save on their portal. Further banks will provide a portal to their customers to view or manage their tokenised cards. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/article/sustainability-forum-shifting-gears-evaluating-the-road-to-sustainable-mobility/articleshow/94248881.cms">Sustainability forum: Shifting gears — ‘EV’aluating the road to sustainable mobility</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ujjivan-raises-475-crore-through-qip-strong-participation-from-quality-long-term-investors/articleshow/94245879.cms">Ujjivan raises ₹475 crore through QIP; Strong participation from quality long-term investors</a>

RBI ready to bring card tokenisation norms into effect from October 1

<ul><li>Google announced that its bringing tokenisation of credit and debit cards to Google Pay during their annual event, <keyword id="8120597" type="UNKNOWN" weightage="20" keywordseo="google-for-india-2019">Google for India 2019</keyword>. </li><li>This will allow users to mask their real card numbers when making payments to third party merchants using Google Pay. </li><li>Tokenisation shares a random token number rather than the actual number of the card to conduct the transaction. </li></ul>Google Pay’s is finally bringing its tokenisation system to India — a feature which allows you to mask your real debit and credit card numbers before making a payment. It was launched in India four years after it was available worldwide. Yet, Caesar Sengupta, Google’s General Manager and Vice President of Payments and Next Billion Users stated, “India is setting the global standard on how to digitise payments,” during the <a href="https://www.businessinsider.in/google-for-india-2019-everything-you-need-to-know/articleshow/71199981.cms">Google for India 2019</a>. Tokenisation allows users to hide their card numbers by issuing a digital token bound their devices, to make a transaction. Once the transaction is complete, the token ceases to exist. It’s a lot like exchanging money for tokens at a casino, according to <a href="https://www.advantio.com/blog/mobile-payments-with-digital-wallets-and-tokenization-how-google-pay-apple-pay-and-samsung-pay-protect-your-card-details">Advantio</a> — a cyber security research organisation. A visitor is the only person who can exchange their money for tokens and vice versa. Should someone else try and use that token — they would not be able to at another casino. Advantio calls this ‘devaluation’ since it deters crime and limits the thief’s field of action. How does tokenisation work? There are two ways in which tokenisation works. One, is the tap and pay method. Users just have to tap their phones against a Bharat QR or near field connectivity (NFC) terminal to make a payment. If the transaction in under ₹2,000, there’s no need to input their PIN number. In order for this to work, the user’s smartphone needs to be NFC-capable. Even for online transactions, tokenised cards can be used to make payments without disclosing the user’s card number to the vendor or merchant through Google Pay. Only the randomised card number is shared. Each token is unique to the card number that it represents. The randomisation of numbers happens on the user’s mobile device itself, which has an encryption key in memory, that is used to generate and decrypt limited-use and single-use keys. According to Google, this makes the process more secure by adding a layer of security. The feature will initially roll out for VISA cards with HDFC Bank, Axis Bank, Kotak, Standard Chartered, and the State Bank of India (SBI). Later this year, Google will add more banks, RuPay and MasterCard to the process. See also: <a href="https://www.businessinsider.in/google-for-india-2019-everything-you-need-to-know/articleshow/71199981.cms">Google is adapting its technology for India and its many languages</a> <a href="https://www.businessinsider.in/how-to-use-google-pay-for-business-and-google-spot/articleshow/71200402.cms">Google Pay for Business and Google Spot launched to digitise small business owners</a> <a href="https://www.businessinsider.in/google-for-india-2019-google-assistant-for-2g-users-and-multiple-indic-languages/articleshow/71200745.cms">Data starved Indians in remote areas can now call the Google Assistant hotline</a>

Google Pay’s new tokenisation will mask your real debit and credit card numbers before making payments

The <keyword id="7656598" type="General" weightage="20" keywordseo="merchant-payments" source="Orion">Merchant Payments</keyword> Alliance of India (MPAI) and the Alliance of <keyword id="1929810" type="General" weightage="20" keywordseo="digital-india" source="Orion">Digital India</keyword> Foundation (ADIF) on Wednesday urged the <keyword id="6354335" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (<keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>) to extend the card-on-file (CoF) tokenisation deadline of December 31 for merchants. Citing several operational challenges that will hinder the transition to the token-based payments ecosystem, the industry bodies voiced their concerns over industry readiness on the RBI directive on card-on-file tokenisation. MPAI and ADIF said that 'ecosystem readiness' is a sequential process of going live with stable API (application programming interface) documentation for tokenised transactions. The digital payments ecosystem is a long way from consumer-ready solutions and unless regulated entities are compliant, merchants will not be able to successfully process tokenised transactions, they said in the joint letter. "In the scenario that banks are lax on preparedness, the brunt of that will be borne by merchants in the form of loss of revenue - we are looking at revenues losses of anywhere between 20-40 per cent at the minimum should that be the case," said Sijo Kuruvilla George, Executive Director, ADIF. The RBI in September prohibited merchants from storing customer card details on their servers with effect from January 01, 2022, and mandated the adoption of CoF tokenization as an alternative to card storage. The industry bodies said that if implemented in the present state of readiness, the new RBI mandate could cause major disruptions and loss of revenue, especially for merchants. "This unpreparedness will impact recent digital payments adopters even deeply. The frequency and intensity of phishing attempts will go as entire card details are to be entered for each transaction, causing a significant increase in irreversible fraudulent transactions," said Vishal Mehta, Chair of Governing Council, MPAI. Based on the set of guidelines that have been mandated by the RBI, sensitive customer information is to be stored in the form of an encrypted 'token' to help secure transactions. These tokens then allow payments to be processed without disclosing the customer details or allowing the payment intermediaries to store customer data that could breach security and privacy. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/tiktok-scores-higher-traffic-ratings-than-google-to-become-the-most-popular-domain-in-2021/slidelist/88403667.cms">People looked up TikTok more than Google making the short videos app the most popular domain in 2021</a> <a href="https://www.businessinsider.in/tech/apps/news/upcoming-whatsapp-new-features-will-enhance-admin-control-in-groups-add-shortcut-for-quick-replies-and-more/articleshow/88387262.cms">Upcoming WhatsApp features: New admin controls, shortcuts for quick replies, message reactions and more</a>

Merchant bodies urge RBI to extend card-on-file tokenisation deadline citing operational challenges

<keyword id="2750705" type="PERSON" weightage="20" keywordseo="Google-Pay">Google Pay</keyword> in collaboration with Visa and banking partners on Monday rolled out tokenisation across its platform, enabling users to safely transact with their cards and use Tap-to-pay feature on near-field communication (NFC)-enabled point of sale (POS) terminals and online merchants. The feature is now available to users of Axis and SBI Card, with Kotak and more banks expected to follow suit very soon. With tokenisation, Google Pay <keyword id="6355645" type="UNKNOWN" weightage="20" keywordseo="Android">Android</keyword> users can use their debit or credit card to make payments through a secure digital token attached to their phone without having to physically share their credit or debit card details. "We are hopeful that the tokenisation feature will further encourage users to transact securely and safely in the current times, and expand merchant transactions both online and offline," said Sajith Sivanandan, Business Head: Google Pay and NBU-India. The feature also works with online merchants, delivering more native and seamless OTP experiences without any redirects to 3D Secure sites. With tokenisation, Google Pay will enable NFC-capable Android devices to make contactless payments at over 2.5 million Visa merchant locations. It will allow users to scan and pay at more than 1.5 million Bharat QR enabled merchants and the customers can pay bills and recharges from within their Google Pay app using their card. "Visa recently crossed over 1 billion token credentials globally and with Google Pay live in India, we expect these numbers to rise significantly. We are excited to partner with Google to further accelerate digital payment innovations in times to come for the Indian market and beyond," said TR Ramachandran, Group Country Manager, Visa, India &amp; South Asia. To enable the tap and pay feature using the smartphone phone, users will have to do a one-time set up by entering their card details and follow it by entering the OTP they get from the bank to add their card to the Google Pay app. After the registration, the feature can be used to make payments at NFC-enabled terminals, the company said. "We are already live for Axis and SBI Card holders with Visa payments network and are working closely with Kotak and other banking partners to further expand the adoption of card-based payments with tokenisation in India," Sivanandan added. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/top-ten-phishing-examples-and-tricks-used-by-companies-to-test-their-employees-cybersecurity-smarts/slidelist/78228072.cms">Top ten phishing tricks that companies are using to test their employees’ cybersecurity smarts</a> <a href="https://www.businessinsider.in/stock-market/markets/news/indian-tech-companies-hcl-tech-wipro-infosys-tcs-share-price-are-green-today/articleshow/78228700.cms">It’s not just the DWS deal, Morgan Stanley's outlook has painted HCL Tech green⁠ — along with TCS, Infosys and Wipro</a> <a href="https://www.businessinsider.in/tech/apps/news/google-hits-back-at-paytm-reiterates-that-repeated-policy-violations-will-lead-to-stricter-actions/articleshow/78229677.cms">Google hits back at Paytm ⁠— reiterates that ‘repeated policy violations’ will lead to stricter actions</a>

Google Pay partners with Visa bringing tap-to-pay for Indian users

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Visa is rolling out a piece of financial technology known as "tokenisation" in Europe, <a href="http://thenextweb.com/apple/2015/02/24/visa-announces-credit-card-tech-that-could-speed-up-apple-pays-arrival-in-europe/?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+TheNextWeb+%28The+Next+Web+All+Stories%29">The Next Web reports, paving the way for the introduction of Apple Pay in Europe</a>.Apple Pay is Apple's cardless payments system. In participating retailers, users can simply touch their iOS device to the payment terminal to make a purchase. So far, it's not available outside of the United States, although Apple is planning to expand.When someone makes a purchase with Apple Pay, they don't actually share their card details with the retailer. Instead, a "token" which corresponds with their account details is issued to authorise a payment. It helps keep the users bank details more secure. (When someone makes a payment with a contactless card, in contrast, it uses their bank details.)This "token" technology hasn't previously been available in Europe, hampering the rollout of Apple Pay. <a href="http://www.visaeurope.com/media/pdf/20989.pdf">But Visa announced today</a> that it will be launching tokenisation in European markets in mid-April this year.<a href="http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/telecoms/11312574/UK-banks-in-talks-over-Apple-wave-and-pay.html">Bank sources had previously told the Telegraph</a> that Apple Pay is expected to launch in the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> in the "first half of 2015." Visa's announcement looks like further confirmation of this. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/apple-pay-credit-cards-payments-iphone-2014-10">How Apple Pay Could Destroy The Credit Card</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o4MnY4cTpqFMojV9Y0itQImqMettpnv_" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Visa has removed one of the last hurdles for Apple Pay in Europe

<keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword> on Friday denied the claims made in certain media reports that its <keyword id="2750705" type="PERSON" weightage="20" keywordseo="Google-Pay">Google Pay</keyword> app is sharing Indian customers' transaction data with third parties. Citing an affidavit filed before a bench of Chief Justice D.N. Patel and Justice Prateek Jalan in Delhi High Court, a section of the media said that Google has told the court that it is allowed to share customers transaction data with third parties with the prior permission of the National Payments Corporation of India (NPCI) and payment service providing (PSP) banks. The affidavit was filed in response to a public interest litigation (PIL) seeking action against Google Pay for allegedly violating the Reserve Bank of India (RBI) guidelines related to data storage and sharing. "This is to clarify that press reports on the basis of the affidavit filed by Google before the Delhi High Court, do not represent the complete facts," a Google spokesperson said in a statement. "We would like to put it on record that Google Pay is in full compliance with Unified Payment Interface (<keyword id="6358921" type="COMPANY" weightage="20" keywordseo="upi">UPI</keyword>) procedural guidelines, issued by the National Payments Corporation of India (NPCI) and the applicable laws and does not share customer transaction data with any third party outside the payments flow," the company spokesperson added. The high court has listed the matter for hearing on November 10. Earlier this week, Google Pay in collaboration with <keyword id="6359421" type="COMPANY" weightage="20" keywordseo="visa">Visa</keyword> and banking partners rolled out tokenisation across its platform, enabling users to safely transact with their cards and use Tap-to-pay feature on near-field communication (NFC)-enabled point of sale (POS) terminals and online merchants. The feature is now available to users of Axis and SBI Card, with Kotak and more banks expected to follow suit very soon. With tokenisation, Google Pay Android users can use their debit or credit card to make payments through a secure digital token attached to their phone without having to physically share their credit or debit card details. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/bharat-bandh-farmer-unions-begin-their-nationwide-strike-delhi-police-on-high-alert/articleshow/78308504.cms">Bharat Bandh: Farmer unions begin their nationwide strike — Delhi Police on high alert</a>

Google Pay doesn't share Indian customer's transaction data with third parties, says Google

Mumbai, The <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> on Friday announced doubling the lending limits for <keyword id="185013" type="General" weightage="20" keywordseo="gold-loans" source="Orion">gold loans</keyword> under the bullet repayment scheme for <keyword id="117575" type="General" weightage="50" keywordseo="urban-cooperative-banks" source="Orion">urban cooperative banks</keyword> to Rs 4 lakh. "It has been decided to increase the existing limit for gold loans under the bullet repayment scheme from Rs 2 lakh to Rs 4 lakh in respect of Urban Cooperative Banks (UCBs) who have met the overall target and sub-targets under the Priority Sector Lending (PSL) as on March 31, 2023," <keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> Governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> said. A bullet repayment scheme is one where a borrower repays interest and the principal amount at the end of a loan tenure without worrying about repayment during the loan tenure. Das, who had a meeting with top brass of UCBs recently, said the measure is in line with the RBI's earlier announcement of providing "suitable incentives" to UCBs that have met the prescribed PSL targets, wherein a lender is mandated to devote a certain part of its overall lending for the marginalised sector. Speaking after announcing the bi-monthly policy review, Das also announced that the RBI will be issuing a comprehensive regulatory framework on project finance. "With a view to strengthen the extant regulatory framework governing project finance and to harmonise the instructions across all regulated entities, the extant prudential norms for projects under implementation have been reviewed," he said, adding that detailed draft guidelines will be released for public comments. He also announced that non-bank lenders in the 'middle and base layers' will be permitted to use Credit Risk Mitigation instruments for reducing their counter party exposure under the credit concentration norms, just like their peers classified in the 'upper layer' are allowed to right now. The RBI is also mulling introducing Card-on-File Tokenisation (CoFT) creation facilities directly at the issuer bank level, given the growing acceptance and benefits of tokenisation of card data, Das said, adding that this will help make e-commerce transactions more convenient.

RBI doubles bullet repayment gold loan limits for urban co-op banks to Rs 4 lakh

<ul class="summary-list"><li><keyword id="6357017" type="DEFINITION" weightage="60" keywordseo="cryptocurrency">Cryptocurrency</keyword> exchange-traded-funds are being actively considered by US regulators, the Financial Times reported chairman <keyword id="4029488" type="PERSON" weightage="60" keywordseo="jay-clayton">Jay Clayton</keyword> saying at a conference.</li><li>The US Securities and Exchange Commission is working with other financial agencies to establish whose jurisdiction various crypto-products would fall under, he said.</li><li>"Our door is wide open — if you want to tokenise the <keyword id="6357062" type="DEFINITION" weightage="60" keywordseo="ETF">ETF</keyword> product in a way that adds efficiency, we want to meet with you and we want to facilitate that. Of course you have to register it and do what you would do with any other ETF," the chairman said.</li></ul>The US Securities and Exchange Commission is working on <keyword id="50323" type="ENTERTAINMENT" weightage="60" keywordseo="regulations">regulations</keyword> that may one day authorize the use of cryptocurrency exchange-traded-funds, the <a href="https://www.ft.com/content/9f2c1303-678e-486e-b3f1-d4f234f85f47">FT</a> reported chairman Jay Clayton saying at a <a href="https://www.youtube.com/watch?v=h3eKQRT7hbk">conference</a>.The securities regulator is working with other financial agencies like the Office of the Comptroller of the Currency and the Commodity Futures Trading Commission to establish how each body would regulate different crypto-products, Clayton said at the discussion on "Innovation &amp; Regulation of Digital Assets."Clayton is attempting to shed the <keyword id="6362470" type="ORGANIZATION" weightage="60" keywordseo="sec">SEC</keyword>'s image of being rigid about cryptocurrencies. The regulator <a href="https://blockchain.bakermckenzie.com/2020/08/31/u-s-sec-approves-the-first-full-securities-registration-for-a-company-issuing-crypto-tokens/">approved its first securities registration</a> for a company issuing crypto-tokens through a public offering in August this year."Our door is wide open — if you want to tokenise the ETF product in a way that adds efficiency, we want to meet with you and we want to facilitate that. Of course, you have to register it and do what you would do with any other ETF," Clayton said.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-jim-osman-investing-expert-3-winners-2020-10" target="_blank" rel="noopener noreferrer">200-plus money managers pay thousands to see which stocks are on Jim Osman's buy list. He details 2 he sees doubling and says one has at least 50% left to soar.</a>Token contracts allow digital assets to represent a single security, like stocks, funds, or ETFs. Firms like Franklin Templeton and WisdomTree have already begun exploring this concept, according to the FT.Clayton said some of the initial crypto pioneers failed to consider investor protection and market efficiency."One of the problems we've had was [that] we got off on the wrong foot in this innovation," he said, adding that there were still members of the financial communties that favored a more unregulated approach.The SEC has previously had to issue cease-and-desist orders to companies for conducting unregistered security offerings in the form of initial-coin-offerings (ICOs), a method of funding via cryptocurrencies."What we don't like is when someone says: 'you know, the function is payments, so you really ought to look past the securities law stuff'," Clayton said. "I can't do that.""Don't tell us it's a payment system when it's actually a financing vehicle."Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-21-potential-future-index-leaders-goldman-sachs-2020-10" target="_blank" rel="noopener noreferrer">GOLDMAN SACHS: Buy these 21 high-growth stocks that have huge upside potential as future index leaders</a>

Cryptocurrency ETFs could soon be a reality now that regulators are actively studying them, SEC chair Jay Clayton says

<ul class="summary-list"><li>Ether could hit $8,000 by end-2026, Standard Chartered analyst Geoff Kendrick wrote.</li><li>Improving Ethereum architecture will lower costs, while gaming and tokenization could boost demand.</li></ul>Improving efficiency and boosted demand will lead to a seismic rise in the world's second largest cryptocurrency, Standard Chartered said in a Wednesday note.By the end of 2026, <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a> could reach $8,000, or a 400% jump from today's price of around $1,600. "We think the path higher for ETH prices may take longer than for BTC, but we see ETH eventually reaching a higher price multiple than BTC relative to current levels (5.0x versus 3.5x)," Head of FX Research, West, and Digital Assets Research Geoff Kendrick wrote. But that's only a "stepping stone" to a larger long-term valuation of $26,000-$35,000, though this estimate assumes use cases and revenue streams that have not yet come about, the note said.The forecast partially stems from expected improvements to the Ethereum blockchain. The block is looking to enhance its performance through layer two scaling solutions and upcoming architecture improvements. For instance, plans to implement "danksharding" would allow Ethereum to manage 100,000 transactions per second.A version of this, called "proto-danksharding," is set to be introduced in early 2024, and would significantly lower transaction costs on the blockchain. "This should help to cement ETH's dominance in the smart contract space, thereby increasing its P/E ratio (if not its earnings) over the next couple of years," Kendrick said. Meanwhile, demand for ether will climb as it finds new use cases, while trends that rely on the cryptocurrency are set to expand.For instance, NFT transactions are the leading Ethereum use case, which Kendrick predicts will expand. Though he acknowledges that <a href="https://markets.businessinsider.com/news/currencies/nft-market-crypto-digital-assets-investors-messari-mainnet-currency-tokens-2023-9?utm_medium=ingest&amp;utm_source=markets">NFT market activity has faded</a>, digital art prices generally follow broader crypto price flows — with the "crypto winter" coming to an end, NFTs should recover as well.The development of blockchain gaming will also fuel NFT demand, in turn boosting ether. NFTs create scarcity in these types of games, representing virtual assets such as items or real estate. Real-world asset tokenization, where ownership rights are represented in blockchain tokens, would also be a boon for ether that is set to grow. "The obvious initial benefit of tokenisation is that it allows fractional ownership of otherwise lumpy or illiquid investments (e.g., real estate) at low cost; the costs associated with tokenisation are very low compared to other fractional ownership models, like IPOs," Kendrick wrote.Tokenization also allows for around the clock trading, immediate settlement, ownership transparency, better investor access and cheaper costs. Meanwhile, inflows into bitcoin — which Kendrick has previously projected to hit <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-120000-crypto-mining-profit-btc-sales-2023-7">$120,000 by end-2024</a> — would likely spill over into ether, while the upcoming bitcoin halving next year would put upside pressure on crypto in general. Positive regulator developments, such as the approval of <a href="https://markets.businessinsider.com/news/currencies/bitcoin-crypto-blackrock-larry-fink-wall-street-love-hate-relationship-2023-7">crypto spot ETFs</a>, would also benefit ether.Both bitcoin and ether will see a considerable boost from the end of the bond market sell-off, which has seen <a href="https://markets.businessinsider.com/news/bonds/treasury-bond-yields-market-selloff-market-crashes-dot-com-bubble-2023-10">Treasury yields surge to 16 year highs</a>.

Ether could jump 400% in a few years before staging a longer-term rally to $35,000, Standard Chartered says

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Good morning! Unlike yesterday, it's a rainy day in London. Here's the tech news you need to know today.1. <a href="http://www.businessinsider.com/pebble-time-raises-1-million-in-44-minutes-on-kickstarter-2015-2">Pebble's new smartwatch raised over $5 million in less than five hours.</a> It used a Kickstarter campaign to raise funds and reached its target in just 17 minutes.2. <a href="http://www.businessinsider.com/hp-reports-earnings-2015-2">HP stock was down 7% after reporting its latest earnings.</a> It beat on EPS but missed on revenue.3. <a href="http://www.businessinsider.com/valve-is-making-a-virtual-reality-headset-2015-2">Valve is going to reveal its virtual reality headset next week.</a> The video game company has been developing a headset to rival the Oculus Rift.4. <a href="http://uk.businessinsider.com/r-apple-to-pay-533-million-for-patent-infringement-2015-2?r=US">Apple has been ordered to pay $533 million for patent infringement.</a> The case was over functionality found in iTunes.5. <a href="http://www.businessinsider.com/google-banning-porn-on-blogger-2015-2">Google is banning porn on its Blogger service.</a> It previously stopped users from earning money from porn blogs, but now it's banned completely.6.<a href="http://www.businessinsider.com/apple-acquires-music-plug-in-maker-camel-audio-london-2015-2"> Apple acquired London music software company Camel Audio.</a> The company had gone quiet in 2015, and people were wondering why.7. <a href="http://www.businessinsider.com/apple-pay-to-come-to-europe-after-visa-launches-tokenisation-2015-2">Visa has paved the way for Apple Pay to launch in Europe.</a> It has introduced tokenisation, which is a technology that Apple requires for its mobile payment service.8. <a href="http://uk.businessinsider.com/tim-cook-in-germany-2015-2?r=US">Apple CEO Tim Cook is in Germany.</a> He has visited a glass factory, as well as the head office of the BILD newspaper.9.<a href="http://www.businessinsider.com/apple-itunes-radio-music-streaming-rumours-2015-2"> Apple could relaunch iTunes with a focus on streaming music, rather than downloads.</a> We spoke to a source who is aware of conversations between Apple and musicians.10. <a href="http://uk.businessinsider.com/apple-patent-for-interactive-application-sharing-lets-iphone-ipad-users-collaborate-on-same-app-in-real-time-2015-2?r=US">Apple has won a patent that could allow people to collaborate within one app from multiple devices.</a> You could send your screen from one device to another. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/apple-watch-paris-smartwatch-tim-cook-iphone-2014-9">Apple Crashed A Paris Fashion Show To Promote Its Smartwatch</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="BkdWhzcDob6xfNOSe0oVqkMLgDUyBfGM" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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