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Topic: Bank of America to store data on the blockchain - page 3. (Read 480 times)

hero member
Activity: 1106
Merit: 638
It's about damn time.

I love loathe how the banks spent a few years denying the value of Bitcoin, and the blockchain, yet they were placing their bets for it at the same time. Now, I'm a betting bear but it's the publicly speaking out against the bets that gets me f*cking p*ssed.

And of course, leave it to a stodgy retail bank to choose the least impactful application of a new technology. Document storage? WTF? Why not using it for inter company transactions or the general ledger accounting or speeding up the time it takes to clear transactions from days to minutes.

This news, coming from a bank, means that Bitcoin's future is bright. The banks stand no chance of making anything remotely close to a competitor to Bitcoin or Ripple. Love it!
member
Activity: 350
Merit: 41
According to this article, Bank of America is planning to use the blockchain for data storage. With the patent originally filed back in 2016, it has been on the table for a while; makes sense and shows just one of the advantages in using blockchain technology within financial institutions.

https://www.coindesk.com/bank-of-america-sees-blockchain-as-way-to-replace-internal-ledgers/
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