Topic: Why Banks on blockchain? - page 5. (Read 24915 times)
Banks want to be on blockchain to be able to sell the buzzword to its clients. I am of the opinion that blockchain without the value token is just a database, and in reality this is what the banks are using.
Blockchain is all encompassing, they don't want to be left out from the gains
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?
because they are clinging on to their mere existence. if they don't do this they will be obliterated in just that but that won't happen in overnight as there are many financial capital markets and derivatives are being run by banks and financial institutions.
I think that the owners of banks are smart and know where to invest money and in what direction to develop, it's no secret that our future will be connected with bitcoin and blockade, I will follow suit
Technologies are developing and improving. Blockchain can deprive people of work in the Bank, for example, the profession of an accountant will be replaced and fully function on the blockchain !
The relationship between banks and cryptocurrencies and the blockchain technology has not been cordial of late. Banks have the mindset that crypto activities are not friendly to them. therefore, it will be difficult for the two to coexist under one roof.
Your opinion is not entirely correct. For the use of bitcoin the bank refused. But the technology used by bitcoin is blockchain, the banks are very supportive even some large banks have used it internally because it can improve efficiency, accuracy and security.
I think the bank sooner or later all will have to play according to the rules of new technologies. New requirements will force. Or maybe simplify them.
On the one hand, it could potentially save banks billions in cash by dramatically reducing processing costs. Banks are salivating at the opportunity to reduce transaction costs and the amount of paper that they process. Implementing blockchain would make banks increasingly profitable and valuable. Blockchain and distributed ledgers have a bright future.
If banks are able to adopt crypto and bitcoin will definitely be new, many employees will follow the bitcoin flow so it can make the bank a good place to convert with fiat directly.
The relationship between banks and cryptocurrencies and the blockchain technology has not been cordial of late. Banks have the mindset that crypto activities are not friendly to them. therefore, it will be difficult for the two to coexist under one roof.
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 think the reason why banks are not free to adopt cryptocurrency has be discuss here several times. Banks operate in a centralized system why crypto operate in blockchain which is decentralized. Banks never have trust on crypto simply because it does not involved third parties and the transactions are not traceable which mean you have no one to hold responsible for any mistake made by you. 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?
There is no denying the role of blockchia technology applications to banks and we will enjoy many benefits from the bank through blockchia technology. this reason Banks on blockchain
The actual banking institutions along with other establishments noticed the actual success associated with blockchain. These people desired to adjust this in order that it can make their own dealings quicker as well as less expensive. In addition to that, it really is really simple to use. Blockchain includes a excellent possible later on.
The bank is aware that blockchain technology can improve bank services to customers, because it is very efficient and makes transactions easy in banking. The development of the blockchain for banking services ultimately creates competition between banks because who are inefficient will be customers ignored.
In my view, Blockchain technology can change the banking system and make it far more efficient by making transactions faster, safer, and cheaper. Thanks to bitcoin which was first successful implementation of blockchain.
Also, Banks will be able to avoid any fraudulent transactions and secure the system.
Transactions will not be completed with just the knowledge of one person, the whole organization will know about it.
Other uses for bank-backed blockchain projects would include secured global currency exchange rate speeds and increased transaction security, among other benefits, eventually allowing for an overhaul of the banking industry, replacing traditional back-office clearinghouses and other outdated mediums that exist between asset sellers and buyers.
Also, Banks will be able to avoid any fraudulent transactions and secure the system.
Transactions will not be completed with just the knowledge of one person, the whole organization will know about it.
Other uses for bank-backed blockchain projects would include secured global currency exchange rate speeds and increased transaction security, among other benefits, eventually allowing for an overhaul of the banking industry, replacing traditional back-office clearinghouses and other outdated mediums that exist between asset sellers and buyers.
Blockchain technology has many special applications in the banking industry, the blockchain technology brings many benefits to the management of the bank customers.
Blockchain is another universe in this situation If you often read news it seems everyone tries to move on Blockchain technology now almost one company from any service tries to test Blockchain it's like beta test if it will succeed and will be better then we will see Central banks are actively testing Blockchain technology for a variety of different use cases everything from new central bank digital currencies new payment systems, to records management having some kind of audit trail for certain functions and so on. Incorporating Blockchains central banks are taking advantages of this technology movement.
Blockchain is a system that covers the workings used by bitcoin, which is more efficient, safer and faster. It turns out that blockchain technology can be applied in various business fields, such as banks, agriculture, trade. The central bank, which has been the center of the server, finally has to be willing to share with the scattered server which functions as a back up of data, so that it cannot be hacked and manipulated.
We always have to be smart in our daily doings and always should be a part of the good team. That is why with blockchain we say, we are safe and it will not be surprise to see an organization building such a platform.
Blockchain is the technology platform for many applications in the financial and banking fields such as securities, payment, trade finance, identifying electronic customers. A look at the Fourth Industrial Revolution with the ability to fundamentally change the banking and financial services industry in the coming years.
The World Bank is another financial institution that is in the process of exploring the advantages that blockchain technology can bring to their specific needs. They are looking at blockchain as a potential means of building and restore confidence in financial institutions. The World Bank is launching a 'blockchain lab' in an effort to pilot projects that can improve governance and social issues. the developing countries.
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