Sure, you're a moron.
Bitcoin technology is free and open source, people can use it to whatever they want or need, if banks are able to use it to cut costs and improve their systems good for them.
Bitcoin technology is free and open source, people can use it to whatever they want or need, if banks are able to use it to cut costs and improve their systems good for them.
what do you mean?
The blockchain technology, its an advanced accounting system with security built in. It's basically a huge ledger of transactions. That's what the banks are interested in.
The bitcoin is rough in feature and effectiveness, but the concept that can be built upon is a huge step forward in accounting.
And how can a stock trading via blockchain work without a vital blockchain?
It does work with a proper accounting system, the blockchain is a different, newer type that draw attention. What are you trying to say?
such a system can not be just as efficient as a dezentralized blockchain with miners
How so? Ever heard of Proof of Stake (PoS)?
All they would need is nodes and the system isint less usable if centralized... Its security would become a sole responsibility, just like the bank system is now. Or they could integrate the technology in other system.
They arent trying to copy paste the code and using it. They are interested in its Concept.
ok now i understand the concept of ripple. anyway what are the advantages between a such centralized system?
if the bank get insolvent how can the network still longer work?
The federal bank with its own currency will just print more money and cause inflation. If it went insolvent it'd be the same whether its local currency or blockchain technology and they could just want to use it for the local currency too.
And if they are centralized it wont really be a network either, in comparison to blockchain coins. It would be similar to how it is already.
Again they probably arent trying to use the code as is. Its just advanced method of putting transactions into a ledger with high integrity and solid verification and tracking options.
