Topic: Banks will use blockchain (Read 921 times)
It be news in my country too. Bank central of my country also will do this. I thin it will make transaction within bank account better and faster. Hope it will happen soon
https://www.ft.com/content/7dc8738c-a922-11e7-93c5-648314d2c72c
Banks are now team up to use blockchain. What is your thought on this guys?
It could affect the cryptocurrency or not?
Banks are now team up to use blockchain. What is your thought on this guys?
It could affect the cryptocurrency or not?
Block chain is one of the hottest topics in financial services industry. By making full use of it, Banks can process payments faster and more accurately, while reducing transaction costs and potential risks.
If Bank introduce blockchain technology then I think generl people will feel free to use it. Many people involve themselves with this system even who felt doubt to use it. The system will also safer for the user. On the other hand Government will get benefit if people transect their financial activity by blockchain technology through Banking Platform. Govt can bring it under the tax. Besides these every transaction will be monitored by law influencing authority. But general people will feel safe.
This transaction involves the exchange of securities through an application of HQLAX Financial Technologies. Credit Suisse and ING are among the best examples of real capital swaps, using Blockchain technology. Banks around the world are now investing heavily in Blockchain to cut costs and simplify procedures. Despite the trials and transactions that have been successful, the application of blockchain technology in the financial sector is still in its infancy.
The world is becoming more technologically inclined everyday. Despite the doubts people have about cryptocurrencies, blockchain seems to woo many countries because of the transparency involved in blockchain and the fascinating speed blockkchain works with. Banks are observing closely and they are likely to enter blockchain a few years' time. The long term effect is that bitcoin and cryptocurrencies will become household names and unnecessary FUDs will be very minimal.
Certainly the bank will actually use that blockchain because the bitcoin starts adoption for easy process
Blockchain technology is a new kind of technology that I believe most institutes or sectors would want to adopt. Considering the fact that banks are threatened by cryptocurrency, I believe in order for them to still in operation, they will definitely want to adopt the blockchain technology.
https://www.ft.com/content/7dc8738c-a922-11e7-93c5-648314d2c72c
Banks are now team up to use blockchain. What is your thought on this guys?
It could affect the cryptocurrency or not?
Banks are now team up to use blockchain. What is your thought on this guys?
It could affect the cryptocurrency or not?
It affects the cryptocurrency in a positive manner. As I have always believed, the banks need to adjust and be more friendly to cryptocurrency if they want to remain relevant to this world which is fast developing technologically. If they insist in their old banking system, they will really be knocked out by cryptocurrency sooner or later. The blockchain technology is one of the best features of cryptocurrency that they may inject into their system.
https://www.ft.com/content/7dc8738c-a922-11e7-93c5-648314d2c72c
Banks are now team up to use blockchain. What is your thought on this guys?
It could affect the cryptocurrency or not?
Banks are now team up to use blockchain. What is your thought on this guys?
It could affect the cryptocurrency or not?
This is what I have been waiting for. Banks will really need to adopt the new trends and innovations, or else they will left behind. This is a good news because more and more people in the local area will be able to use blockchain maybe directly to the banks.
Have you ever heard of Ripple?
Here is a perfect example of how banks will use BC technology in the future: https://ripple.com/use-cases/banks/
One of the reasons I'm a holder of XRP.
Here is a perfect example of how banks will use BC technology in the future: https://ripple.com/use-cases/banks/
One of the reasons I'm a holder of XRP.
it could be good news, and bad news. the good news is that bitcoin will become more expensive, because people can use it, then bitcoin prices will increase significantly. But the bad news, bitcoin will be arranged by the bank, made taxes, and the bitcoin system will be created like a bank system, which in every transaction will be taxed and interest, I really do not like such a system. because it is very harmful for us.
https://www.ft.com/content/7dc8738c-a922-11e7-93c5-648314d2c72c
Banks are now team up to use blockchain. What is your thought on this guys?
It could affect the cryptocurrency or not?
Banks are now team up to use blockchain. What is your thought on this guys?
It could affect the cryptocurrency or not?
Just like I did mention in one of my earlier post that some banks in my country have affiliation with some of these payment platforms all in the bid to facilitate payment and I believe they will have their own share. Also, I believe they are doing some study already on how to incorporate the blockchain into their operations too.
Leading banks and financial institutions are pioneering the development of Blockchain technology and Blockchain-based platforms with a long-term vision and strategy of eventually replacing the entire banking infrastructure with the Blockchain-based protocol
I did not click the link. Would you mind to explain a little bit more detailed how banks will use blockchain technology? From all I know, banks are part of the governmental fiat money system and finance the yearly state budget with printing more money every year and we normal people who have to work hard for our money have to pay the price. So I do not think it will affect the decentralized crypto currencies negatively.
And there is! For example, the Banking giant from Great Britain HSBC sees the prospect of using blockboys in central banks and financial institutions responsible for economic growth and the welfare of the country.
Of course banks will use blocking technology in their structure! A lot of banks are already developing their own plans and plan to create their own crypto currency!
Blockchain is just a tool, a technology, nothing "sacred" limited to Bitcoin and company. Since it is a good tool it is very likely that banks will adopt it, probably in a centralized way.
Blockchain can make it possible to reject a large number of elements of modern operating infrastructure, qualitatively improving key processes and having a significant impact on the dynamics of costs. I think, undoubtedly will influence the positive side!
if the bank adopts a blockchain network, this may be a progress for the world of banking and I'm sure there will be a lot of influence in the world of cryptocurrency. because bitcoin itself also adopts blockchain
If this system will actually be applied then the influence of crypto will be great. blockchain itself very closely with crypto and if true then the bank and crypto will certainly getting close so it could just be the bank will start to receive crypto. but until now it seems difficult to implement the system at the bank.
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