Wirecard Folds: A Blow to Crypto Cards, but a Chance for Blockchain
Cointelegraph
Published Jul 03, 2020 01:20PM ET
Updated Jul 04, 2020 07:40PM ET
Some of the most impactful frauds in modern history, from the Enron scandal to the Bernie Madoff investment scheme, were carried out by malignant actors inside or at the helm of corporate entities who manipulated the tangled, esoteric financial records. This is precisely the kind of behavior blockchain technology is designed to obliterate.
The rapid demise of the German financial technology company Wirecard, which established itself in the blockchain community as a major crypto debit card issuer, seemingly belongs to the same category of events. In the long term, it might contribute to the growing public demand for increased transparency of corporate financial records and money flows.
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Written By: Cointelegraph
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