Topic: Why Banks on blockchain? - page 7. (Read 24925 times)
I see this not just about banks alone but with blockchain been well truste technology beyond doubt any organisaton will never risk the chance but build on blockchain for the best. This is a good move for banks.
banks may used blockchain as their data based platforms to have their datas more organize yet secured for their client.Blockchain may also be involved in mobile banking that enable a client and user to have online banking transactions more convienient.Thus upon using blockhain as part of their data based platform,banks should be put some restrictions yet making their banking a more transparent and user-friendly for every bank clients.
I think because they're the first one to lose business when blockchain and cryptocurrencies dominates. Another point is, the blockchain is unhackable and cannot be counterfeited.
They will be still losers. Even if banks use blockchain technology , that will differ from the technology which is used for bitcoin. Banks don't want a anonymous system which can not be controlled.
The bank can apply blockchain technology for its automated remittance operations in the fastest and most transparent way based on blockchain technology. I think so .
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?
Yes, blockchain can be helpful for the banks in many ways: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?
1. The investment banks spend a huge amount on settlement and clearing jobs which can be saved with blockchain technology.
2. By shifting their payments system on blockchain technology banks can reduce the cost involved in processing them by eliminating middlemen. This would offer high security too.
3. With blockchain technology banks can access the individual verification of other organization’s clients, which can save the amount spend on fulfilling KYC norms.
In its daily business, the bank tries to record all transaction activities in ledger, this manual note will increase more and more as it develops and can be lost, damaged or burned and when that happens it will destroy all the national data. Blockchain offers convenience with this legder transparency, where all parties view and validate the correctness of their data, so there is no data fraud and theft
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 you can read it from the news, there is always a notification why banks are interested in the blockchain system. one of them is transparency in terms of transactions and speed without third parties.
you should read it from various references so that you really understand.
first if they joined on blockchain they will have more gains and more profit. HOW? They will not using there own money but using the money of people that they invest on their bank. In our country if you have money on their bank the profit after a year is just low profit but the bank will make profit from it to gain more on blockchain.
we all know that block-chain is not just crypto moneys. block chains provide more convenience, security and speed in every aspect of life. banks also want to use that advantages on their operations.
It seems like a lot has been discussed but this is quite interesting, banks use blockchain because the system of blockchain is very good and also banks are not want left behind when the blockchain trend is in the future, but I am sad now that the cryptocurrency team and banks are still hostile
Because Blockchain is a more transparent and secure way of transmitting information, not only for banks but for everything.
It can literally be used for everything like regular internet is used and with the right security measurements and the transparency of the network and safety in making sure to confirm every block, could be a lot safer than the internet which wasn't made with security in mind precisely.
The new president of Colombia Ivan Duque said that they were going to use Blockchain inside his government, that tells you how close it's application is in all ways of human society that requires transferring data through virtual means of communication.
The possibilities of it are endless, however it still need more improvements - Especially for handling huge amount of data.
It can literally be used for everything like regular internet is used and with the right security measurements and the transparency of the network and safety in making sure to confirm every block, could be a lot safer than the internet which wasn't made with security in mind precisely.
The new president of Colombia Ivan Duque said that they were going to use Blockchain inside his government, that tells you how close it's application is in all ways of human society that requires transferring data through virtual means of communication.
The possibilities of it are endless, however it still need more improvements - Especially for handling huge amount of data.
Because banks embracing the new technology for the future of updating the new currency. Before we are thinking that banks will be remove by blockchain or the cryptocurrency so that banks thinking if they adopt their business will be lose or bankrupt, this is my own opinion. Bitcoin has a big influence to the people in terms of trading and earning so that is why banks thinking what be a better solution to be part of new technology.
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?
Bitcoin has brought us not only the opportunity to earn on increasing its rate, but also brought us the blockchain technology. Blockchain in 2018, trying to implement wherever possible. Therefore, it is not surprising that banks are beginning to introduce blockchain technology in their work. This is the evolution of the banking system. 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?
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?
Because blockchain technology has many advantages, it help us save users data securely, make transaction become faster, connect more people. I saw many banks using it. 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?
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 see the bank does not want its role to be replaced by bitcoin. when banks have implemented the blockchain technology they will arrange in such a way that they remain on top.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?
and in my opinion this is done for their "bank" not good for the people or bank users.
Blockchain has the potential to substantially change the way various financial services are run. The Bank can significantly utilize the development and implementation of blockchain technology in terms of increasing efficiency, cost savings and risk reduction.
Blockchain is the latest technological innovation in financial markets, why banks need to adapt to blockchain is because transaction blockchain technology will be fast, safe, cheap and transparent. while the bank currently takes 3-4 days to transfer money from one country to another and the costs are quite high, the transaction is also not transparent.
Blockchain technology provides a high level of safety in storing and transmitting data, open and transparent network infrastructure, decentralization and low cost of operations. These impressive characteristics make blockchain a really promising and in-demand solution, even in the extremely conservative and restricted bank industry.
Most credit and financial institutions cannot carry out their work without a number of mediators, while their participation make the services of these institutions much more expensive. The implementation of blockchain will enable unnecessary mediators to be abandoned and provide customers and banks with cheaper services.
Source: https://medium.com/universablockchain/blockchain-is-reshaping-the-banking-sector-fd84f2f9c475
Most credit and financial institutions cannot carry out their work without a number of mediators, while their participation make the services of these institutions much more expensive. The implementation of blockchain will enable unnecessary mediators to be abandoned and provide customers and banks with cheaper services.
Source: https://medium.com/universablockchain/blockchain-is-reshaping-the-banking-sector-fd84f2f9c475
The world will always follow what is good and is of not surprise to me to see banks on blockchain. Blockchain as a revolutionized platform is really making impact and am sure with time most institions will be on blockchain. Very good move for banks to be on blockchain.
Bank trying to use blockchain should not be a case study , because blockchain is a new technology using to track data on any activity for a reference purpose which must find the previous transaction before generating the next and can't be adjust after being produce, and if banks use it , it will easy their work and makes the data decentralized for the use of general public , Bitcoin is a cryptocurrency that use blockchain to store it data too for future reference and same will apply to banks if adopt blockchain.
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