Can blockchain change financial industry? - page 26.

wuvdoll

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Quote from: AK47- on April 16, 2018, 08:35:59 AM

It is only after such scams get unearthed that people realize the importance of blockchain technology. I have a strong feeling that sooner or later more countries are going to adopt this technology and we will see a revolution in the financial industry.

This is one thing that we are going to be experiencing sooner anyway and we are gradually seeing how some banks in the developed world already trying to see how they can integrate the idea of blockchain technology into the finance sector. It would be changing a whole lot of things and I am sure it would even get better globally as time goes on. This is the new world and this is evolution of money, and as long as there is an evolution, changes are definite and most especially for the better.

Lots of improvements for financial industry could be expect due to adoption of blockchain technology in coming days in terms of preventing scams and more secured way of banking to common people. Definitely blockchain technology may take our current life style into new dimension buts many governments and central banks are not taking no initial steps so far.

mummybtc

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There is no doubt blockchain is distrupting the financial space, I think they know this but what the want is a close blockchian not the open type that we have behind Bitcoin. The transparency is not a virtue in financial section and I just believe one of these project in the space is going to get this right

BQ

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CoinMetro - the future of exchanges

Blockchain technology definitely has enormous use in the real world and in the soon future, I'm sure a we'll be very close to adoption in every industry, and with that, a step closer to people being out of jobs Roll Eyes

judyrob

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I think Yes. but the changes in the financial industry will be a nice change looks like. the system of blockchain itself very much applied in large projects and if the industry finance also applies this system then the security and comfort will certainly be increasingly assured.

gucci belt

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A recent report from Deloitte, Financial Services Center predicts that the blockchain payment system will experience a significant increase in transaction volume by 2020. If this system is adopted by the banking authorities, then the possibility of bitcoin will be stronger.

13abyknight

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Quote from: Tonygold1967 on April 16, 2018, 08:21:25 AM

Author claims, that blockchain will be able to change financial industry. What do you think? Do you agree?

Blockchain technology has already revolutionised the financial industry as we are already witnessing many banks putting all of their resources on the blockchain. Traditional ledger maintenance is a thing of the past as everything is instant and real-time here. Moving on, more financial institutions are implementing this in a move to automate most of its associated processes.

sureblinks

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yes sir, it will definitely change a lot of things.

aardvark15

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Quote from: Tonygold1967 on April 16, 2018, 08:21:25 AM

Blockchain is new technology which change a lot of things in the world. In nearest future a lot of things will be based on it.

Here is an article: https://icoguide.com/en/blog/blockchain-in-the-real-world-industries-it-can-revolutionize-and-change-everything

Author claims, that blockchain will be able to change financial industry. What do you think? Do you agree?

Banks are already experimenting with blockchain technology. My understanding is that they see potential for its benefits but want to create their own centralized blockchains rather than use Bitcoin or any other decentralized open ledger. This shows that this technology is relevant and is probably here to stay and even if banks don’t use Bitcoin, I think there is room for many variations out there.

manhont

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Once the Internet was a new technology and many thought that he had no place in this world, now he is used by almost the entire population of the globe, innovations are inevitable! Blockchain will replace the entire financial system, but this will take time

tonylewisverdu

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yes I'm sure it will.. we still don't know what improvement will happen to blockchain because it is still in infancy stage and if blockchain would mature I'm sure that technology will really benefit..

D200

PutuPartoHarjo

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According to some articles, one of the banks that have implemented Blockchain on its system is Royal Bank of Canada (RBC). They developed a distributed ledger technology (DLT) system based on Blockchain technology called Hyperledger. The application has already been made in the financial transactions of their branches in the United States and Canada. This means that this technology when used by other conventional banks, may be going to use a different name with the concept remains the same because it is developed based on open source.

bit..what?

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Quote from: Tonygold1967 on April 16, 2018, 08:21:25 AM

Blockchain is new technology which change a lot of things in the world. In nearest future a lot of things will be based on it.

Here is an article: https://icoguide.com/en/blog/blockchain-in-the-real-world-industries-it-can-revolutionize-and-change-everything

Author claims, that blockchain will be able to change financial industry. What do you think? Do you agree?

Yes, i agree. I think the blockchain technology has the potential to change the financial industry.
This is a good chance for the society to permanently change the financial industry to the positive one. I do not know if this will happen, but I hope so.

Fendi23

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in a few years i think blockchain can't change the financial industry because any of countries still restrict and prohibit payments using blickchain.any of them considerthat blockchain is a threat and can disrupt nstional stability
thanks.

hao2067755834

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Unibright Token Launch - 10th April 2018

There is a lot of money transfer and transaction in the financial market every day, and the blockchain technology will significantly reduce the transaction settlement time!

Using block chain technology can significantly reduce cost, payment speed and fraud risk, which can ensure the transaction is verified and completed in an instant!

anggriani

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why not? I believe it will happen soon and blockchain will be used in various sectors (not just financial).

but the blockchain has the biggest enemy, the government and the people who love corruption. they will not like blockchain and the various ways they will do to thwart the massive adoption of blockchain.

Lareina

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Quote from: shaheer001 on April 16, 2018, 08:57:42 AM

Yes it is strong and fast new technology and it will be implemented in many field in the world and hope soon it will be the major financial industry in the world.

This can be regarded as the most promising technology in recent years. It will not be long before the world will use it extensively.

Leftneck

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Quote from: Tonygold1967 on April 16, 2018, 08:21:25 AM

Blockchain is new technology which change a lot of things in the world. In nearest future a lot of things will be based on it.

Here is an article: https://icoguide.com/en/blog/blockchain-in-the-real-world-industries-it-can-revolutionize-and-change-everything

Author claims, that blockchain will be able to change financial industry. What do you think? Do you agree?

Very likely
Because Now many projects use the blockchain system as its foundation.

shaheer001

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Yes it is strong and fast new technology and it will be implemented in many field in the world and hope soon it will be the major financial industry in the world.

jmalkovich

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If the blockchain technology does not solely used in crypto money, but used in another industries, it will absolutely chance the system in many ways.
But if the technology will be limited with the money, there will not be a crucial change in the financial industry.

Nhebu

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Quote from: AK47- on April 16, 2018, 08:35:59 AM

It can definitely make it scam proof. As you must be aware, a huge fraud took place at Punjab national bank in India where 11,000 Crore INR were scammed from a nationalized bank. Had that bank used blockchain technology in that system, that scam could have been avoided.
It is only after such scams get unearthed that people realize the importance of blockchain technology. I have a strong feeling that sooner or later more countries are going to adopt this technology and we will see a revolution in the financial industry.

Because blockchain technology promotes transparency and reliability, I think is useful enough to fight scam specially if the scammer is the central authority. The important thing that blockchain acquire is to stop financial institutions like bank to fight fraudulent scam.

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