Coinfirm working with biggest bank in Poland

Kakmakr

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I do not understand why people get exited about news like this? Banks are going to use "Blockchain based solutions", not Bitcoin. Roll Eyes

Every Tom, Dick and Harry wants to jump onto the Blockchain bandwagon lately and each of these so-called "Blockchain based solutions" will be some obscure attempt to create their own private distributed ledger technology.

The technologies that they are developing has nothing to do with Bitcoin, because Bitcoin is a public Blockchain and these technologies goes against everything that Bitcoin stands for. Angry

incomefromcoins

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cryptocurrency firm coinfirm working closely with poland bank is positive news for crypto investors soon these kind of relations bring friendly relationship for crypto and bank for further development

muratsink

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we know. that today the crypto rating and popularity is very good. each country has a goal to adopt crypto by using regulations that can cover all parties. including in Poland. previous. banks in Poland have cooperation with one of the exchanges in Poland (Bitpay). but. Polish banks choose to terminate cooperation relations. and it doesn't last for a long time. we know that crypto in Poland is also legal. but the government has strict regulations to control every crypto transaction. and I see. this news will only have influence on the internal state of Poland.

Genemind

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Quote from: Bitinity on April 23, 2019, 06:08:57 AM

It is indeed good news for the blockchain technology but it does not give any significant impact for bitcoin itself. It gives benefits for the bank only imho, I'm not quite sure what will be the good effect if all banks in this world start to use blockchain technology. It is like double edge sword imho, on one side it may make more people aware about the technology and bitcoin but on the other site it might be used by the bank to assure people that people do not need to use bitcoin anymore since banks are using the same technology.

Could be a double edged sword, but I think your second opinion will be less likely to happen. Banks are charging people unnecessary fees for them to earn their money. People will rather use cryptocurrency it self rather than going thru banks where they might pay, bank transaction-fee + other fees that they might consider or think of once they have used blockchain technology, as we know banks are good at stealing people's money.

ubay

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In the future, blockchain will be very helpful in the financial world, but when the bank has penetrated the blockchain then what is the reciprocity to the bitcoin community? I hope the bankers don't forget us.

btc_angela

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Quote from: n0ne on April 23, 2019, 10:42:29 PM

Quote from: Kemarit on April 23, 2019, 10:21:22 PM

Hmm. This is very interesting at the same time weird news coming from Poland. Anyway, as far as I know they are against crypto, but I'm not surprised that they love the technology behind, just like other countries who have hard stance against Bitcoin, but secretly taking advantage of Blockchain Technology.

[1] Polish Central Bank Secretly Funds Anti-Crypto Youtube Propaganda Videos
[2] Poland Continues Its Aggression Towards Crypto, But the Community Shows Force

Once Russia took the similar stand on cryptocurrency. After long term research they found the blockchain technology to be promising to make the financial infrastructure perfect but they stood against bitcoin. Same seems to be the scenario with Poland banks adopting blockchain technology, and gradually these financial institutions will move towards cryptocurrency usage.

China as well. They know that blockchain technology is the future that's why they really take the time and money on invest on its development, specially around their government infrastructure. We all know that they suddenly make a U-turn on bitcoin ecosystem, however, they stick to blockchain and take advantage of it, just what Poland is doing.

Caladonian

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Quote from: n0ne on April 23, 2019, 10:42:29 PM

Quote from: Kemarit on April 23, 2019, 10:21:22 PM

Hmm. This is very interesting at the same time weird news coming from Poland. Anyway, as far as I know they are against crypto, but I'm not surprised that they love the technology behind, just like other countries who have hard stance against Bitcoin, but secretly taking advantage of Blockchain Technology.

[1] Polish Central Bank Secretly Funds Anti-Crypto Youtube Propaganda Videos
[2] Poland Continues Its Aggression Towards Crypto, But the Community Shows Force

Once Russia took the similar stand on cryptocurrency. After long term research they found the blockchain technology to be promising to make the financial infrastructure perfect but they stood against bitcoin. Same seems to be the scenario with Poland banks adopting blockchain technology, and gradually these financial institutions will move towards cryptocurrency usage.

Something like this really interest many of crypto lovers, the actions that they are taking is different from what they've stand before, precisely favors the blockchain system and if they will proceed and continue to developed system like this, popularity will grow and more and more people will be known about this and will start believing, crypto will again benefits from such actions that this country has made.

AntoineCjp

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Quote from: Kemarit on April 23, 2019, 10:21:22 PM

Hmm. This is very interesting at the same time weird news coming from Poland. Anyway, as far as I know they are against crypto, but I'm not surprised that they love the technology behind, just like other countries who have hard stance against Bitcoin, but secretly taking advantage of Blockchain Technology.

[1] Polish Central Bank Secretly Funds Anti-Crypto Youtube Propaganda Videos
[2] Poland Continues Its Aggression Towards Crypto, But the Community Shows Force

Yes even with Japan creating strong regulation, but many company are adapting with blockchain and even more are planning to develop some new service with blockchain.

n0ne

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Quote from: Kemarit on April 23, 2019, 10:21:22 PM

Hmm. This is very interesting at the same time weird news coming from Poland. Anyway, as far as I know they are against crypto, but I'm not surprised that they love the technology behind, just like other countries who have hard stance against Bitcoin, but secretly taking advantage of Blockchain Technology.

[1] Polish Central Bank Secretly Funds Anti-Crypto Youtube Propaganda Videos
[2] Poland Continues Its Aggression Towards Crypto, But the Community Shows Force

Once Russia took the similar stand on cryptocurrency. After long term research they found the blockchain technology to be promising to make the financial infrastructure perfect but they stood against bitcoin. Same seems to be the scenario with Poland banks adopting blockchain technology, and gradually these financial institutions will move towards cryptocurrency usage.

Kemarit

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Hmm. This is very interesting at the same time weird news coming from Poland. Anyway, as far as I know they are against crypto, but I'm not surprised that they love the technology behind, just like other countries who have hard stance against Bitcoin, but secretly taking advantage of Blockchain Technology.

[1] Polish Central Bank Secretly Funds Anti-Crypto Youtube Propaganda Videos
[2] Poland Continues Its Aggression Towards Crypto, But the Community Shows Force

jossiel

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Nice update from that company. As for reading the article, they have been testing it for a year and now they are ready to manage.

This would trigger the banks on Poland and potentially follow PKO Banks adoption of blockchain.

Quote from: funchiestz on April 23, 2019, 07:05:23 AM

Yes, almost every country appreciates Blockchain, but the number of countries that work on it is not the same. Although many countries say that they will work on this issue, at the end of 10 years I am not sure how many countries can achieve this.

10 years enough to implement blockchain system for the banking industry and to the companies that are willing to adopt it. Numbers may not be the same for the likes and dislikes but as long as it is rolling out, countries that dislikes or doesn't have policies with it will decrease soon.

betty11

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We know the banks will eventually drop their dogmatic sands against the bitcoin, the timing is what we are not sure about. They will eventually bow to bitcoin, it's needed for them to stay in business or they will go into oblivion. No one can stop a formidable change not even the fraudulent bankers.

funchiestz

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Quote from: Haunebu on April 23, 2019, 06:55:01 AM

Many government institutions around the world have openly declared their admiration for the blockchain which is why this news does not surprise me, but many people tend to think that this will drive adoption which is wrong.

They basically admire the blockchain, but don't like crypto which is why they try to ban or regulate them. These are 2 separate things people.

Yes, almost every country appreciates Blockchain, but the number of countries that work on it is not the same. Although many countries say that they will work on this issue, at the end of 10 years I am not sure how many countries can achieve this.

Haunebu

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Many government institutions around the world have openly declared their admiration for the blockchain which is why this news does not surprise me, but many people tend to think that this will drive adoption which is wrong.

They basically admire the blockchain, but don't like crypto which is why they try to ban or regulate them. These are 2 separate things people.

alisafidel58

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Quote from: FreeEarnsActivist on April 23, 2019, 05:22:53 AM

It's a huge opportunity for blockchain be more popular.

For the blockchain, it is indeed good news as the technology is being adopted by not just a private institution but also the banks themselves. In reality, the technology of blockchain is the only one having being adopted and not the whole crypto sphere where it is vastly used. I admire them for integrating the technology but I hope someday that they will adopt bitcoin too.

Bitinity

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It is indeed good news for the blockchain technology but it does not give any significant impact for bitcoin itself. It gives benefits for the bank only imho, I'm not quite sure what will be the good effect if all banks in this world start to use blockchain technology. It is like double edge sword imho, on one side it may make more people aware about the technology and bitcoin but on the other site it might be used by the bank to assure people that people do not need to use bitcoin anymore since banks are using the same technology.

Mandoy

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Aurox

Banks planning to use the blockchain technology are already making a news since 2017. There are rumors that big financial institutions including banking firms have a meeting somewhere in the US to talk about integrating blockchain technology into the banking system. It will be very helpful for the banks to track their transactions as well as it will be friendly to the depositors because they can track every transactions they made in the bank.

But in the side of cryptocurrency I guess there will be no impact since what the banks are after is the technology which is blockchain and not cryptocurrency itself. So the bank of Poland using blockchain technology is a good one but not a news that will make cryptocurrency holders be happy of.

Ailmand

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Quote from: FreeEarnsActivist on April 23, 2019, 05:22:53 AM

It's a huge opportunity for blockchain be more popular.

Indeed, blockchain technolgy is getting popular and adapted in different sectors and businesses. Even banks are now integrating blockchain tech into their system. We can expect that as time goes by mass adaptation is inevitable to occur.

FreeEarnsActivist

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It's a huge opportunity for blockchain be more popular.

Beerwizzard

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Quote from: okala on April 23, 2019, 04:14:16 AM

The blockchain is experiencing lots of adoption by financial institutions lately and that is an indication that the banking system are now optioning into full digitalization in both documents and smart contract transactions model. The blockchain as a multiphasic technology will help the banking sector greatly and am glad banks are now beginning to take advantage of that.

And that doesn't meant that current crypto community will get any kind of benefit from that. Banks are trying to lower their expenses by using blockchain and I'm happy for them. But all their activities are not related with BTC or any other cryptocurrency that is currently traded on exchanges. Such news doesn't even tell us that those banks would accept Bitcoin or even become crypto friendly.

Topic: Coinfirm working with biggest bank in Poland (Read 322 times)