Topic: Why Banks on blockchain? - page 3. (Read 24915 times)
The banks and the goverments.. Two very important think with the bitcoin and with the cryptocurrency today. Both of them used to have some problems with the blockchain and with the coins. But they would never leave the market. I am sure they both try to find things that brings benefit for them. They always try that. Otherwise the bitcoin or the altcoins couldn't come this far.
Every goodthing does not speak of itself and as far as blockchain has been exposed to the world there is no reason for such as institutions like banks to hold back without moving unto blockchain. Is ideally tried and tested platform to better the function of banks and to me is a good move.
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?
I think banks adopting blockchain technology because banks realize blockchain is good technology to secure their customer data and can saving a lot cost. New technology like blochchain should give an advantages and blockchain provide it
Banks are interested in blockchain technology, as they believe that this will allow them to respond in a timely manner to the aggressive threat that bitcoin poses to traditional money. Although now many financial institutions are talking about their interest in the blockchain, they ignore the fact that cryptocurrency is necessary to create a blockchain. blockchain amid the understatement of the significance of bitcoin Hacket sees attempts to reduce the risk for traditional currencies.
Banks and rulers of different countries that regulate national currencies recognize that cryptocurrency is one of the few alternatives that will allow for the safe and efficient use of money, bypassing the control of the bank and the government.
Using Bitcoin contributes to decentralized trust, which is the main advantage of the bank. He also threatens the monopoly of the state to issue money.
Since Bitcoin is a decentralized network, traditional methods of dealing with legislation and intimidation tactics will not work. Instead, banks are trying to adapt the blockchain to protect themselves from bitcoin.
At the moment, many banks, hedge funds and fintech companies claim that blockchain will change the future of the financial system, improving its efficiency and safety.
Banks and rulers of different countries that regulate national currencies recognize that cryptocurrency is one of the few alternatives that will allow for the safe and efficient use of money, bypassing the control of the bank and the government.
Using Bitcoin contributes to decentralized trust, which is the main advantage of the bank. He also threatens the monopoly of the state to issue money.
Since Bitcoin is a decentralized network, traditional methods of dealing with legislation and intimidation tactics will not work. Instead, banks are trying to adapt the blockchain to protect themselves from bitcoin.
At the moment, many banks, hedge funds and fintech companies claim that blockchain will change the future of the financial system, improving its efficiency and safety.
all we know here is blockchain is the great system and the important things that it is a secure system. and I think there are many banks that will learn about bitcoin in the future, they want to use blockchain for their system to change their old system
in my opinion the bank is interested in using the blockchain because by using the blockchain technology the transaction system in the bank will be faster because there is no need to use a third party. then the cost is also cheaper compared to using a traditional transaction system. and blockchain is more transparent everyone can access data or money easily. maybe in the future the blockchain will replace credit cards and debit cards.
Many of banks entire world that adopting blockchain including bitcoin for them to expand and embrace the updating new technology or else they well bankrupt or lose their business because as we can see people was aware on blockchain and they also adopt and embrace it just like bitcoin or other altcoin so that some of banks including here in my country that they need to explore and adopt it for them to expand their business regarding blockchain.
For cryptocurrency the bank is still awaiting regulation from the government, because the bank must have KYC while cryptocurrency is anonymous. But the technology that accompanies that is the blockchain, the bank is very supportive, because of decentralization. The results obtained are increasing efficiency which has an impact on improving service to customers.
blockchain is much better than banking ledgers so banks want to adopt blockchain technology.
Because blockchain ledgers are more secure than banking ledgers so they are interesting on blockchain and the transactions also very much faster than banking ledgers.
Today many of the Bank Managers are studying about the Blockchain and are starting to implement this technology, because the blockchain is a distributed data storage technology that verifies records of transactions recorded transparently in ledgers so that anyone can access, to prevent hacking. therefore the Bank also needs it for prevention from the hackers
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?
many people already understand blockchain technology, with a decentralized system that makes it very easy to monitor the movement of money and makes it very safe without being broken by irresponsible parties, the bank also knows that blockchain technology makes it very easy for us to conduct financial transactions wherever we are in any country, maybe something like this from the bank's side wants to adopt a more advanced system of crypto currencies. 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 agree with you. Blockchain has proved to be very useful especially in the financial industry. With blockchain, several setbacks experienced by banks will have a solution. For example, fees used for transactions will be reduced to the lowest minimum and this would really help the bank as well as its customers. We need banks to be blockchain-based so we can exploit the full power of the blockchain in our day-to-day transactions.
blockchain is the great system i think, and maybe it will make a big changes when the banks use the blockchain system. and i think right now there are many banks that learn about the blockchain system and so some research about the blockhain system
Taking advantage and keeping up with new technology is a big step of banks. I believe that blockchain could help them a lots.
I think Bitcoin can minimize their costs. Therefore, it is beneficial for them to implement the blockchain in their work. But I think Bitcoin is not very profitable for them.
Blockchain is the new currency in today's time. It is very easy to use. And we can transfer this currency to anything in less time. In this transfer we do this from the currency. They are transparent in them. Because of which the bank has not adopted blockchain. Thereby, blockchain and bank are being damaged.
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?
Of course banks need to adapt with today's technology or esle they will be surpassed further by bitcoin and other cryptocurrencies. This upgrade is just a start of how blockchain will revolutionize our economy in terms of financial and business transactions. It's proven to be more efficient and holistically cheaper than conventional fiat so it just matter of years until it would be implemented and use in the same frequency as today's fiat.
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?
Every business needs to innovate to keep themselves in place in the market. Since block chain is now making its name in the world economy, banks need to adapt the demand by joining the competition. Also, block chain would improve their services since most local banks in our area still using older systems. They really need to upgrade since our current market has changed. Hopefully, this will reflect good to the block chain.
because blockchain is more secure than banking ledger and it will easy for transaction and it will chargeless.
Besides being safer, Blockchain is also more practical and also more transparent about transactions. as you say that using Blockchain can also save transaction costs, therefore the Bank will be very good if using the Blockchain because the Blockchain has many features that will make the Bank better than before.
It seems to me because even banks understand that this is a revolutionary technology and it needs to be implemented in its work. I am sure that after 10 years, all will go to the blockchain
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