Dear banks, it's not about blockchain technology - page 3.

Possum577

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Quote from: p2pbucks on October 09, 2015, 09:52:09 PM

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

"...it's about ideas, bruh!" ---- from Kanye "Douchbag" West

For some reason I felt that needed to be said. Which bank has a private blockchain hoax? You're absolutely right though, they won't get more individual accounts (i.e., accounts from regular folks like us) by implementing a private blockchain. But, that's not why they're creating/exploring blockchain technology. The technology makes it cheaper for them to process their transactions...

But, it's important that we vote with our wallets if only to bring success to the Credit Unions and local banks that are doing it honestly and properly and in ways that help our local communities.

Hazir

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Quote from: p2pbucks on October 09, 2015, 09:52:09 PM

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

Answer is simple - We can't. We are part of the current system when banks are ruling our lives, we can't do anything to fight back.
To destroy banks we would need to live similar to Amishes. But I think there is a way, but it is not simple or fast - just as now standard TV is losing audience due to internet, similar banks will lose clients in the future due to cryptocurrency.

aso118

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Bank'll use blockchain to reduce their operation costs, not make their customer happy.

Exactly - Banks will try to reduce vast, redundant middle offices through blockchain technology.
The only benefits that customers will have is reduced settlement times and lower errors.
This is a fringe benefit of banks using new technology and is not the reason why banks adopt it.

franky1

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banks wont use blockchain tech for the consumer savings and loan market.,
the simple reason is they love creating money out of nothing, when people sign credit/mortgage agreements. they simply add a new balance to the account. but
having a system that has a locked-in limit or require waiting for x blocks to accumulate a certain amount of coins is not in their business plan.

it would be private investors looking for a new asset/commodity market to play the price swings that would and are interested in blockchain tech. its like digging for gold without having to sweat or get dirty. and then playing the markets.

Q7

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I also have the same opinion which I don't understand their motive. Even if they come up with another blockchain based monetary control system which they claim will make it more transparent with more accountability in it, for me, it won't make any difference. Banks are still banks. The last thing that we want to see is to have our money getting frozen and being charged ridiculously fee to use the service.

p2pbucks

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How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

Topic: Dear banks, it's not about blockchain technology - page 3. (Read 3068 times)