Topic: Why Banks on blockchain? (Read 24915 times)
The blockchain technology provides a better transcation system than the orthodox banking system transcation system and if the blockchain technology system is adopted it would be a much needed development for the banking system
this is a great news. but i think bank and blockchain cannot connecting which each other
today many people and media believe that the blockchain is the future of finance and data. Its decentralized nature is no longer taboo.
Security, speed and effectiveness are very appropriate if the bank adopts the blockchain. Banks must follow the flow of technological change, so they are not left behind.
Banks will adopt the blockchain because of its effectiveness in improving service performance, where banks as financial institutions must always increase the use of technology that has an impact on customer satisfaction. Security, speed and effectiveness are very appropriate if the bank adopts the blockchain. Banks must follow the flow of technological change, so they are not left behind.
Blockchain technology is very secure and this is not a secret. Banks know this, even if they don't state it, sooner or later banks will adopt Blockchain.
Blockchain has many advantages over the big books that banks use because bitcoin is decentralized and its records are not changed and not with the control of certain people.
Blockchain is the decentralized system and once the transaction recorded officially will not be lost at any situation and for the long term.
There cannot be any fraudulent activities.
There cannot be any fraudulent activities.
I think there will be no financial institution like the central bank to adopt blockchain technology because they have a political element that depends on the policies of each country. But the most likely is that banks will cooperate with blockchain-based institutions or companies to facilitate more accurate digital recording.
You definitely make senses with your statement because what the governments and the banking setting did towards crypto currency and blockchain base network which was the same reason for the misconception happening in India this days. But, things is gradually changing cause the banks and governments are supporting some blockchain project which is centralized (Ripple). Besides, the statement made by the IMF boss also make the banks love blockchain.
Whether you like it or not, the majority of people living in this world is supporting the digital money and the fact that some people are butthurt because of it makes them look like a person with low mentality and understanding, how can you stop such great innovation? besides, aren't you tired of having a centralized society? if things go wrong, blockchain will be the only the answer to everything and there's nothing you can do about it.
I think banks saw the possibilities of blockchain being used worldwide in the future. Not only because everything can be interconnected easily and transactions will be done very fast. It will also help banks create a bigger scope and almost a borderless list of possible clients. Banks using blockchain if not affected by laws in each country could extend without limit which means more income can be gathered or generated.
I think the bank already knows what benefits they get if they adopt the blockchain on their system, like being able to see transactions that are transparent and make it easier for users to transact. and in my opinion it will also make it easier for the users of the bank.
The answer upon the question "Why should do banking on Blockchain" is already hugely discussed. I am more interested on the question "How to make cross-platform transactions easily while still ensuring the privacy and security".
They do not want that, they want you to only use their systems so they can have complete control over your money and your life, so while I can see why people want that since it will be convenient for them, banks do not want that and we should not expect a huge leap forward, so we need to keep pushing for the direct adoption of bitcoin and not worry too much about what banks do.
I think the Bank must accept cryptocurrency and use the blockchain system in the banking world. So many benefits from implementing the blockchain system, not only the benefits in the data security sector, the blockchain system will make it easier for them to make transactions.
The answer upon the question "Why should do banking on Blockchain" is already hugely discussed. I am more interested on the question "How to make cross-platform transactions easily while still ensuring the privacy and security".
I think there will be no financial institution like the central bank to adopt blockchain technology because they have a political element that depends on the policies of each country. But the most likely is that banks will cooperate with blockchain-based institutions or companies to facilitate more accurate digital recording.
Still any banks will ready to accept the blockchain system to be engaged with their current bank system it will leads to a lot of changes in all over the world so accepting will be the most important thing also in now for the better development also so you can wait for some more time.
I think there will be no financial institution like the central bank to adopt blockchain technology because they have a political element that depends on the policies of each country. But the most likely is that banks will cooperate with blockchain-based institutions or companies to facilitate more accurate digital recording.
The banks are aware that blockchain is the way forward the earlier they key in the better for then and their jobs. Blockchain has a lot of advantage over normal ledger the banks are using because bitcoin is decentralized and the record are immutable and it is not with a particular person control.
maybe what you say is true but why only the blockhain system that is used is not the crypto currency that is also taken and used in the economy I am sure in the future the bank will also use crypto currencyI am agree, soon or later banks will accept cryptocurrency and adopting blockchain technology. Blockchain technology offering security on data transaction and i think its needed by banks.
Banks are keen on revolutionary blockchain technology because they know if banks adopt blockchain technology into there core processes and functions there efficiency and productivity will sky rocket because it will definitely give effective ways to allow customers to do transactions and provide more benefits that the current traditional system can never think of and that is the reason they have focus on blockchain technology even they hate blockchain based cryptocurrencies and bitcoin
Blockchain has brought a revolution in the financial sectors. Banking sectors are coming toward adaption of blockchian technology for more advanced banking services to customers with less time and less fees where there will be no third party.
Banks need to abandon the old paradigm and adopt blockchain technology in their sphere.The sooner the better.Already now there are banks in the European Union that introduce this technology and legalize.For example https://wbb.io/
You are right because they are now adopting and accepting new technology if they didn't do that they lose or they got bankrupt because some of multi billion, big establishment, celebrity, businessman was on blockchain so that is why banks are now on blockchain.
Before banks is the number one critics and aganints of blockchain technology even bitcoin but if they didn't adopt the new technology their is possible that they going to bankruptcy because blockchain was the new update and the new technology of our generation and all big company and establishment was adopting and embracing blockchain and bitcoin.
Jump to: