Topic: [2016-09-14] ET: Next banking disruption lies in one, open online ledger (Read 889 times)
September 15, 2016, 02:03:03 AM
Good one out of many without real content
September 14, 2016, 08:10:25 PM
Next banking disruption lies in one, open online ledger
http://economictimes.indiatimes.com/industry/banking/finance/banking/next-banking-disruption-lies-in-one-open-online-ledger/articleshow/54325221.cms
Imagine being able to avail a home loan almost as easily as obtaining a loan for buying white goods in an appliance store. Or, having a refund credited to your account within minutes of a failed transaction or cancellation.
This would be possible once banks begin to use the underlying technology of bitcoins called blockchain. Today, bankers spend much of their energies in establishing contracts, ascertaining identity and going through records to check whether a certain transaction did take place in the past. The technology that has the potential to address these problems is blockchain — an electronic public ledger that records virtual currency transactions which cannot be tweaked or deleted.
http://economictimes.indiatimes.com/industry/banking/finance/banking/next-banking-disruption-lies-in-one-open-online-ledger/articleshow/54325221.cms
Imagine being able to avail a home loan almost as easily as obtaining a loan for buying white goods in an appliance store. Or, having a refund credited to your account within minutes of a failed transaction or cancellation.
This would be possible once banks begin to use the underlying technology of bitcoins called blockchain. Today, bankers spend much of their energies in establishing contracts, ascertaining identity and going through records to check whether a certain transaction did take place in the past. The technology that has the potential to address these problems is blockchain — an electronic public ledger that records virtual currency transactions which cannot be tweaked or deleted.
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