Topic: Why Banks on blockchain? - page 2. (Read 24915 times)
Banks' interest of potential uses of blockchain technology is not a new thing. Even though they don't publicize their projects, they are working on development of promising tools of blockchain technology. We are going to be a user of a new banking system based on this technology just in a few years.
In near future, most of the system of internet will be blockchain based. Cryptocurrency has brought a bigger changes in payment system. If bank wants to exist and run their business, they must have to be up to date. Otherwise they will not be able to survive. That's why they are thinking of blockchain integration from now so that they can establish themselves from the beginning and don't get late in the party.
There are several reasons why banks are starting to use blockchain technology.
It is more secure. This is the most important parameter of any bank. You do not want to carry your money in a less secure bank.
Secondly, it is a cheaper way. Blockchain technology can reduce data storage costs by up to 40%.
It is more secure. This is the most important parameter of any bank. You do not want to carry your money in a less secure bank.
Secondly, it is a cheaper way. Blockchain technology can reduce data storage costs by up to 40%.
Well i think that the banks might not love cryptocurrencies at large due to the competition they bring on board but doesn't mean they are not interested in the technology behind it, so they are just trying to copy some aspect of crypto into their day to day administrative work.
Transactions specifically like cross border payments can definitely lower transaction fees by using blockchain technology its fast, secured and most all it cannot be tampered thats why most banks today are under testing this kind of technology so that in the future they can fully implement it into banking systems.
https://cointelegraph.com/news/singapore-central-bank-partners-with-deloitte-nasdaq-on-blockchain-asset-settlement/amp
http://news.abs-cbn.com/business/05/21/18/unionbank-to-link-rural-banks-using-blockchain
What is the possible reasons why banks adopt of joining blockchain? Please share your opinions . Is it really helps rural banks and small banks to be more productive and efficient? Is it faster and easier in terms of financial transactions to the mass market and brings down the cost of service?
http://news.abs-cbn.com/business/05/21/18/unionbank-to-link-rural-banks-using-blockchain
What is the possible reasons why banks adopt of joining blockchain? Please share your opinions . Is it really helps rural banks and small banks to be more productive and efficient? Is it faster and easier in terms of financial transactions to the mass market and brings down the cost of service?
Blockchain is technology and any bussiness can adopting this technology to save a lot cost and make their bussiness more eficient. Beside that, banks will use blockchain soon or later because blockchain offering security more than current system
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.
I believed you guys misunderstand the different between blockchain and crypto currencies because blockchain is just the block which contains cryptographic hash list and blockchain is not totally decentralized but it secure, effective in terms of distribution or keeping data. Which is why the Banks see it as a good alternative. 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.
naturally banks adopt Blockchain, in my opinion they adopt it because of its sophistication, for example they can save data more safely, transactions faster and avoid multiple transactions.
They want to compete against cryptocurrencies and they are seeing that adopting the blockchain for themselves can be the best thing they can do, they love the blockchain but they do not like the idea of having a currency they cannot control over it, this is why they are adopting only the blockchain and not bitcoin or any other cryptocurrency above it. I find it first and foremost quick and convenient! Again, at least some kind of anonymity. I have always believed that cryptocurrency will be accepted by the world, this is a huge potential!
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.
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.
naturally banks adopt Blockchain, in my opinion they adopt it because of its sophistication, for example they can save data more safely, transactions faster and avoid multiple transactions.
https://cointelegraph.com/news/singapore-central-bank-partners-with-deloitte-nasdaq-on-blockchain-asset-settlement/amp
http://news.abs-cbn.com/business/05/21/18/unionbank-to-link-rural-banks-using-blockchain
What is the possible reasons why banks adopt of joining blockchain? Please share your opinions . Is it really helps rural banks and small banks to be more productive and efficient? Is it faster and easier in terms of financial transactions to the mass market and brings down the cost of service?
I believe that this leave them no choice but to adopt blockchain as the technology behind crypto is continuously eating the system of transactions and investing http://news.abs-cbn.com/business/05/21/18/unionbank-to-link-rural-banks-using-blockchain
What is the possible reasons why banks adopt of joining blockchain? Please share your opinions . Is it really helps rural banks and small banks to be more productive and efficient? Is it faster and easier in terms of financial transactions to the mass market and brings down the cost of service?
The banks are afraid of being leave behind as cryptocurrencies are growing popularity and helping people have their rights and privacy for their own money things that banks cannot offer
Banks must switch to blockchain one day simply to expel the middleman and to lower the fees. Dealing with physical money is more demanding in terms of safety, more people involved....printing etc..
Blockchain is for everyone even for greedy bankers..Ripple is great example if you want to research the advantages of blockchain technology compared to traditional banking system. After 5 years i want to see blockchain as the main way to control data,money,government.
Sure bankers are greedy but here it's nothing about greed, it's more about efficiency. I mean the old system of banking is due to die if it remains the way it is today (with the fierce competition of Online banks as well). The blockchain will make everything smoother and more efficient, with less human interrelations as well but this is what technological progress is all about.
Blockchain is for everyone even for greedy bankers..Ripple is great example if you want to research the advantages of blockchain technology compared to traditional banking system. After 5 years i want to see blockchain as the main way to control data,money,government.
Banks aren't going to develop decentralized blockchains. They don't have any use of it. But they do develop centralized blockchains for their own benefits and not for the sake of "transparency" "decentralization" "pseudo-anonymous"
They can increase their security, increase the speed (and so efficiency), save on operating costs, save on employees, and more things
We should see banks adopting blockchains as a bad thing, it's an adoption of new technology like internet was new.
They can increase their security, increase the speed (and so efficiency), save on operating costs, save on employees, and more things
We should see banks adopting blockchains as a bad thing, it's an adoption of new technology like internet was new.
Banks are also different. There are banks that go to meet the client in solving various problems. There are also banks that strive to develop in step with the times, because their Directors are young people and follow new trends. Such banks will use blockchain for such banks in the future.
Banks aren't going to develop decentralized blockchains. They don't have any use of it. But they do develop centralized blockchains for their own benefits and not for the sake of "transparency" "decentralization" "pseudo-anonymous"
They can increase their security, increase the speed (and so efficiency), save on operating costs, save on employees, and more things
We should see banks adopting blockchains as a bad thing, it's an adoption of new technology like internet was new.
They can increase their security, increase the speed (and so efficiency), save on operating costs, save on employees, and more things
We should see banks adopting blockchains as a bad thing, it's an adoption of new technology like internet was new.
https://cointelegraph.com/news/singapore-central-bank-partners-with-deloitte-nasdaq-on-blockchain-asset-settlement/amp
http://news.abs-cbn.com/business/05/21/18/unionbank-to-link-rural-banks-using-blockchain
What is the possible reasons why banks adopt of joining blockchain? Please share your opinions . Is it really helps rural banks and small banks to be more productive and efficient? Is it faster and easier in terms of financial transactions to the mass market and brings down the cost of service?
Sure and can work with that. If you look at some of the most cryptocurrency use blockchain technology that is much safer. The decentralized nature makes this technology can not be changed and can not be controlled by the government though. Each transaction is faster, offer a low cost and transparent. That is why many banks wanted to adopt the technology blockchain. http://news.abs-cbn.com/business/05/21/18/unionbank-to-link-rural-banks-using-blockchain
What is the possible reasons why banks adopt of joining blockchain? Please share your opinions . Is it really helps rural banks and small banks to be more productive and efficient? Is it faster and easier in terms of financial transactions to the mass market and brings down the cost of service?
because bnak seeing the system contained in bleckchain is very useful. to prevent corruption. especially in Indonesia the bleckchain system has been established in all of the animals in Indonesia
Blockchain is the latest technology that has a lot of innovations that will help and strengthen the banking industry. Blockchain will help to check fraud in the banking system. It will also make transaction faster even confirmation of transactions will be swift and effective. Blockchain will help banking data to safe and available anywhere and anytime.
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