Crowd Erupts in Enthusiastic Applause at Devcon’s Second Day
https://www.cryptocoinsnews.com/devcon-day2-sees-crowd-erupt-enthusiastic-applause/
https://www.cryptocoinsnews.com/devcon-day2-sees-crowd-erupt-enthusiastic-applause/
Santander bid to make history today as the first multinational bank to use ethereum’s public blockchain to transform central bank issued money into digital currency.
One of the biggest bank in the world, Santander, aims to allow its customers to turn bank account funds into ethereum based tokens, starting a new stage in digital currencies and beginning a move towards mainstream use. They have been working with Roman Mandeleil, founder of ether.camp, for the past nine months, with the project now in testing on Ethereum’s Morden.
The crowd erupted in enthusiastic applause upon hearing the announcement, with one attendant stating participants were cheering. Unfortunately, there won’t be any proper videos until next week as they have been contracted out to professional teams with three cameras covering all angles. Some amateur videos of devcon2 are starting to surface, but not yet of Santander’s announcement.
there lies the problem: "use ethereum’s public blockchain to transform central bank issued money into digital currency"
as central banks presently issue unlimited amounts of fiat (for the few), so will become cryptocurrency ?
How exactly do you mean? I see this as very little difference from current functionality with say, Coinbase. The only difference is, users will be able to directly buy eth using fiat from their Santander account, as opposed to having to enter in bank account info before being able to buy eth. In what capacity would a bank ever be able to issue (unlimited) crypto tokens such as eth? This announcement is not Santander issueing eth, it's Santander offering the capability to buy eth directly with funds from your bank account. Those are 2 very very different things.
