Topic: Banks and Blockchain (Read 67 times)
Blockchain will be adopted by central banks and cryptographically secured currencies will become widely used.
Blockchain could replace central banks.
Real risks remain for banks that choose to get involved with cryptocurrency firms.
Blockchain technology could reduce the UBS's infrastructure costs in cross-border payments, securities trading and regulatory compliance by as much as $20 billion a year by 2022.
The number of applications within and outside the banks could be reduced as the Blockchain transaction contains all relevant information for the successful transfer of assets and/or related contracts.
Deutsche bank's economist sees blockchain as a threat because of the lack of the IT infrastructure to support the technology involved.
Ethereum is much more general purpose than bitcoin and could be useful for banks.
The future of finance in many nations could be dominated by Bitcoin and cryptocurrencies.
A private blockchain run by banks could end up as just "another cartel" and function as poorly as the payments consortium.
Banks could become the "custodians of cryptographic keys".
The blockchain could save lenders up to $20 billion annually in settlement.
Blockchain technology could be used to bypass today's centralised financial infrastructure entirely.
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