[2018-05-28] Blockchain Will Be Adopted by Every Bank

entrepmind23

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Quote from: felixesteban on May 29, 2018, 07:50:51 PM

Banks now ignore cryptos and blockchain, but these technologies have been used in many areas, and in the future it will be much more. In this sense, some banks seem to understand the importance of blockchain and have started to make serious investments. Ripple has already announced partnerships with many banks. These are very important developments in terms of blockchain technology and cryptos.

Some banks are considering adopting blockchain technology in their system. I recently saw a news about some loans paid through bitcoin for faster transactions and since they want to take advantage of this too, they would want to create their own cryptocurrency. Although some banks are against the idea of cryptpcurrencies and some even terminated the account of some holders to whom they know is involved in crypto, they just cannot easily get rid of it and the solution they can think of is to create their own cryptocurrency but still a centralized one.

I believe that blockchain technology would be the norm in the future and those who stay in the old system would be left behind and they would eventually shift to blockchain. A blockchain need not be public anyway as there are private blockchain so it would be an advantage to them. It is a big help to track those transactions real time especially for those financial reports wherein one doesn't need to accrue an expense and doesn't need bank reconciliation anymore at the end of the month since transactions are up to date.

felixesteban

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Banks now ignore cryptos and blockchain, but these technologies have been used in many areas, and in the future it will be much more. In this sense, some banks seem to understand the importance of blockchain and have started to make serious investments. Ripple has already announced partnerships with many banks. These are very important developments in terms of blockchain technology and cryptos.

Hamphser

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Quote from: veleten on May 29, 2018, 06:40:32 AM

Quote from: ruthbabe on May 28, 2018, 11:38:02 PM

Frank Abagnale, a master forger and the real-life character of the popular movie “Catch Me If You Can,” recently stated at the Blockchain Nation Miami Conference that he believes blockchain technology is the future of secure information processing and data settlement.

He said:

“I think you would have to be pretty ignorant not to realise that blockchain is the way for the future, it is the best way to secure information 100 percent, so I think you will see banks, especially accounting practices and accounting firms, all move to the blockchain, keeping records through blockchain. It will be the best way to do so because you cannot break the blockchain, you cannot hack into the blockchain, you can’t change anything in the blockchain.”

Read more... https://www.ccn.com/blockchain-will-be-adopted-by-every-bank-catch-me-if-you-can-forger-turned-fbi-consultant/

not every bank would want to keep its ledger publick and open
blockchain has many applications,but banking is based on fractional reserve and ponzi schemes,just on a global scale
take any central bank and the US treasury and its debt
so yeah,you cannot hack blockchain,but they are not afraid of the petty conmen,they are afraid that the truth comes out
or rather,more people are aware of it and that is a completely different story

All shady stuffs would be vulgar out and not all banks will really consider for it to be used or adapted but i do really believe this would really be the new trend where blockchain tech will really give much more faster banking transactions or any services offered but there would always people or bank which will oppose on such thing. Showing off transactions publicly will be the main concern where they wont already able to do things just like before if they do decide to make use of bchain.

Betwrong

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To tell the truth I couldn't bear more than 15 minutes of the “Catch Me If You Can” movie. I have zero respect for people like Frank Abagnale, but I enjoyed reading the article. I don't know who wrote those words for Abagnale to say, but they are great words, put in simple sentences for the vast majority of people to comprehend. We definitely need more articles exactly like this one.

orions.belt19

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Words such as those coming from someone like Frank Abagnale would really mean that the blockchain is revolutionary. He must have been the master of frauds for he was able to make his way through a number of professions and fished millions of money through deceit. He was then hired to countercheck possible false checks because of his expertise. Through the ages, the system of security has changed and now that blockchain has emerged, it would truly change the game even which Frank Abagnale was a master of.

Leyss

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The blockchein technology will not only be used in every bank, it will be used wherever it is necessary to safely store large databases. Now such storage is found almost everywhere. For example, in my country blockchein technology is used to store land cadastre data, that is, data on all land plots on the territory of the country, indicating their owner and full characteristics of each land plot. Now almost everywhere you need to store a large database with a high degree of security. Therefore behind the technology blockchein is the future.

Chaki

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Since traders on cryptocurrency is increasing every day and most people into it is using their savings on their banks or they save and withdraw regularly on their bank account to use it on trading I think bank is looking for a way to let their savers freely use their account when they withdraw.and deposits it may be indirectly but they want to connect since this is also a way to look for income for the bank by the fee being paid every transaction, whether it is small or little.

yecats

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I do agree that blockchain technology will be our future technology and will help banking systems move to the next level of security, why not.But this will take long time to discuss because in the first place banks don't trust bitcoin.

1Referee

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Quote from: ?? on ??

That's a confident statement from someone who's lived a life as a master conman. I'm impressed. He's broken every system, and twisted every rule. And he says this is super secure. It's time people took note and shifted from fiat to crypto as well.

He is nothing more than an attention whore. Crypto is just the next best thing to spark up his shitty career.

Blockchains being adopted by banks is meaningless when it comes to security. If they as authority can alter information at any time without the outside world even knowing, then what's it worth? It would directly mean that hackers or insiders can mess with it as well. Only true immutable ledgers are the way to move forward. In all cases, if you make use of centralized services, you are at mercy of their terms, and their terms are always against you, the consumer.

Banks have lost their credibility, and using blockchains will not change that. We are the modern banks. We have it in our pocket.

veleten

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Quote from: ruthbabe on May 28, 2018, 11:38:02 PM

Frank Abagnale, a master forger and the real-life character of the popular movie “Catch Me If You Can,” recently stated at the Blockchain Nation Miami Conference that he believes blockchain technology is the future of secure information processing and data settlement.

He said:

“I think you would have to be pretty ignorant not to realise that blockchain is the way for the future, it is the best way to secure information 100 percent, so I think you will see banks, especially accounting practices and accounting firms, all move to the blockchain, keeping records through blockchain. It will be the best way to do so because you cannot break the blockchain, you cannot hack into the blockchain, you can’t change anything in the blockchain.”

Read more... https://www.ccn.com/blockchain-will-be-adopted-by-every-bank-catch-me-if-you-can-forger-turned-fbi-consultant/

not every bank would want to keep its ledger publick and open
blockchain has many applications,but banking is based on fractional reserve and ponzi schemes,just on a global scale
take any central bank and the US treasury and its debt
so yeah,you cannot hack blockchain,but they are not afraid of the petty conmen,they are afraid that the truth comes out
or rather,more people are aware of it and that is a completely different story

ruthbabe

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Frank Abagnale, a master forger and the real-life character of the popular movie “Catch Me If You Can,” recently stated at the Blockchain Nation Miami Conference that he believes blockchain technology is the future of secure information processing and data settlement.

He said:

“I think you would have to be pretty ignorant not to realise that blockchain is the way for the future, it is the best way to secure information 100 percent, so I think you will see banks, especially accounting practices and accounting firms, all move to the blockchain, keeping records through blockchain. It will be the best way to do so because you cannot break the blockchain, you cannot hack into the blockchain, you can’t change anything in the blockchain.”

Read more... https://www.ccn.com/blockchain-will-be-adopted-by-every-bank-catch-me-if-you-can-forger-turned-fbi-consultant/

Topic: [2018-05-28] Blockchain Will Be Adopted by Every Bank (Read 177 times)