[2016-1-1] Accept It: The Blockchain Will Be Part of Your Bank's Business

You've heard the hype.

But you recognize that most of it is coming from people with a vested interest in seeing blockchain technology become the big thing that they think it will be — Blythe Masters, for one.

The JPMorgan Chase veteran is the chief executive of the blockchain technology company Digital Asset Holdings. So you have to expect her to talk up the blockchain as she has, tout its potential to change the way the financial world operates, emphasize how it can reduce risk, improve efficiency and ultimately provide better customer service.

Among traditional bankers, some might agree there's great potential in technology that facilitates an immutable record of transactional data.

Yet many remain skeptical about anything associated with bitcoin. Eyes glaze over at the details of how it works. Applications for the average bank seem to be distant still.

If this is how you think about the blockchain — that is, when you think about it at all — expect to be paying far closer attention soon. "The biggest idea in banking right now is blockchain technology," says Brad Leimer, the head of innovation for Santander Bank.

Read more : http://www.americanbanker.com/news/bank-technology/accept-it-the-blockchain-will-be-part-of-your-banks-business-1078557-1.html

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