Topic: Blockchain can help banks - page 3. (Read 554 times)

With the development of the Blockchain technology, there are many industry applications and processes are using Blockchain concept for their core functionality. Blockchain has following characteristics;
1.       Decentralized
2.       Trustable (Trust inbuilt-No need trust)
3.       More secured
4.       Redundancy addressed

With above characteristics, Blockchain is penetrating into more applications and processes. Even bank can use this technology for their transaction recording and many other applications using Open and distributed ledger architecture.

Of course, Blockchain can be help for the financial instantions include the banks.
Blockchain is the future technology and blockchain is a solution.

you are right, today i see many public is bored with the primitive transaction system so that many public are interested in the blockchain system.

if the bank uses blockchain, then blockchain will save the bank and help the bank from death, if not using blockchain, then the bank will die.

simple but realistic

Banks need to use blockchain technology.
But there is no need to encrypt money markets, and most of the time it looks like a mere hype.

I have also thought about that. Blockchain is a revolutionary invention which can be used for many purposes. And its also very beneficial for banking system too. Financial records and transaction system of banks can be modified with blockchain technology. I dont know why they are so against it.

Of course, if the Bank is willing to use BlockChain technology then the Bank will cut expenses to pay for its Employees, Besides With Blockchain technology later We do not have to queue for hours at the Bank counter to make transactions. Blockchain technology currently in possession of Bitcoin, is a great future technology. anyone using it will benefit greatly.

And not just to banks but also to many other businesses.
Actualy banks are experimenting with blockchain technology for a long time now and they will surely implement it in the near future.
Banks maybe don't like cryptocurrency very much but they understand the advantages of new technologies and they want to implement and adopt them for their best interest and profit. So banks interest for blockchain is nothing new and surprising.

I think blockchain can help banks. Today, the blockchain technology and the cryptocurrency market are growing rapidly. Most countries in the world are involved in the money market. Traditional banks want to grow and survive, with the help of blockchain. In the future, blockchain will be a solid foundation for banks.

Banks don't give a Monkeys Uncle about us, our communities, the long road of technical discovery with BTC and the ALTs, all they care about is money, money for themselves, I do hope the banks will all go away and we can have full control of our own money - the banks were once an important part of the monetary system but with Blockchains and decentralized options available NOW, do we really need them anymore? (and the FATCATS that run them).

Actually, this is a threat to existing cryptocurrencies because one advantage of cryptocurrency to banks is that it is faster to send money using cryptocurrency compared to banks. If this happens, I believe people will choose banks over cryprocurrency because it is more legitimate and supported by the government compared to cryptocurrency.

As i know, already many banks have begun to implement blockchain. So much news was that this would reduce prices, thanks to the blockchain.

in my opinion, most of banks in the world are going to use blockchain for the money transfer in the future 

Blockchain can help banks but banks don`t want to accept the help. Bankers don`t want to risk their money, their stability and their status. They have a lot of things to lose and for now the majority of them aren`t ready for innovations.

Recently i see BTV News about Blockchain Technology and they are dis cause how to help Blockchain to Bank. They want to add a Blockchain system with his Bank Transfer so In This moment Blockchain system can help any kind Bank. Blockchain is a decentralize platform so it can help Bank and Landing calculation Property so it is now very famous in this world.

it seems to me that when the blockchain starts direct interaction with banks and cryptocurrencies it will be a huge financial revolution

Block chain can help banks transactions easily. Ripple already its a part of bank transaction, major banks should be use blockchain technology, but many countries are not aware of this technology. In near future may be we can see all bank transactions through block chain technology

Yes indeed, because block chain provides the following:

#1. They can be used as a single source of information and hence, for money transfers, record keeping and other back-end functions being the easy, digital, open, decentralised ledgers they are. For instance, most Banks need to maintain reserves with multiple counterparties at once and it would help immensely if they can settle transactions point-to-point as a straight-through process.

#2. The quality and speed of data becomes so high, consistent, precise and so real-time that new revenue streams can also be tapped while offering customers seamless and actually-nimble experiences.

#3. They can reduce human intervention and make it possible for banks to execute and verify transactions with improved accuracy and efficiency.

#4. Since transactions are continuously kept as ‘blocks’ of records, they are secure, scalable and durable- also making the entire process far simpler and fluid than it ever was. They do not just cut paper and costs but also revitalize the ingredient of trust that is quintessential in financial information.

#5. Disintermediation takes off both the risk and expense of counterparties and enables more empowerment for users to control their information.

#6. Possibility of failure or intrusion is almost negligible with these ledgers and hence process integrity as well as transparency goes to a new realm here.

I think governments will not oppose the application of Blockchain technology in the Banks
As far as I know regulation only applies to cryptocurrency and I've never heard of regulations that prohibit the application of Blockchain technology in the Banks or Companies

I think banks really don't have any issues about blockchain technology and we have seen a lot of people from financial sector praised it, it is just that those decentralized cryptocurrencies who relies on blockchain tech is a threat to them. Well this is true that blockchain can enhance or improve the banking system and add more security to your bank accounts, it can also help banks to make faster and accurate international transactions. I also think that it can reduce the fraudulent activities that is happening inside those financial institutions. It will be big if banks will be able to implement an appropriate new banking system with blockchain.

blockchain is surely of great use for banks, but the fact that it is created by bitcoin is being used by bank to fuel the wars against it. Bitcoin is a real threat to all traditional banking systems