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Title: [2016-03-09] The Case for Banks to Use Open, Public Blockchains Post by: LiteCoinGuy on March 09, 2016, 03:58:34 PM The Case for Banks to Use Open, Public Blockchains
Marc Andreessen, the venture capitalist and inventor of the early web browser Mosaic, had it right when he tweeted in December: "Big companies desperately hoping for blockchain without Bitcoin is exactly like 1994: Can't we please have online without Internet?" http://www.americanbanker.com/bankthink/the-case-for-banks-to-use-open-public-blockchains-1079783-1.html Title: Re: [2016-03-09] The Case for Banks to Use Open, Public Blockchains Post by: aso118 on March 09, 2016, 04:15:55 PM The Case for Banks to Use Open, Public Blockchains Marc Andreessen, the venture capitalist and inventor of the early web browser Mosaic, had it right when he tweeted in December: "Big companies desperately hoping for blockchain without Bitcoin is exactly like 1994: Can't we please have online without Internet?" http://www.americanbanker.com/bankthink/the-case-for-banks-to-use-open-public-blockchains-1079783-1.html This is a very interesting comparison. I didn't know that AOL tried building proprietary information sharing networks in the 1990's. ;D Big companies / banks may come around to using Bitcoin when it becomes successful and attains widespread adoption. Title: Re: [2016-03-09] The Case for Banks to Use Open, Public Blockchains Post by: Carlton Banks on March 09, 2016, 04:51:56 PM Big companies / banks may come around to using Bitcoin when it becomes successful and attains widespread adoption. What would banks be using Bitcoin for? It's a complete and total eclipse of their business model; there are no banks in Bitcoin (hence "be your own bank") Title: Re: [2016-03-09] The Case for Banks to Use Open, Public Blockchains Post by: btcbug on March 09, 2016, 05:57:48 PM Big companies / banks may come around to using Bitcoin when it becomes successful and attains widespread adoption. What would banks be using Bitcoin for? It's a complete and total eclipse of their business model; there are no banks in Bitcoin (hence "be your own bank") For settlement between them ultimately is what I think Andreas A. speaks about. AOL and other closed networks would still need to communicate between themselves using a standard protocol (if they ever wanted to allow more freedom for their users), and when that protocol is open to anyone, people just skip the private networks and use the Internet directly. But you are correct, it is the opposite of the banking business model. It would be out of necessity at first and then later banks would be more like BitGo or something, offering security, insurance, etc. IMO |