Bitcoin Forum

https://www.coindesk.com/societe-generales-work-with-public-ethereum-is-a-big-deal


What do you think of this? How much does eth benefit when a new token is issued on it's architecture. Does this have any influence on you wanting to buy into eth, or is it not a big deal?

I think they launch it to help track better with blockchain technology and they will maybe launch own blockchain after some time if they see after how works and in future more banks will use blockchain technology.

Banks are gradually moving towards the adoption of the blockchain and very soon once the have the right team they may created they own blockchain instead of relying on the ethereuem blockchain for they token operations. But I don't think this will add much to the ethereuem market because it not a direct investment in the ethereuem market.

More banks are now seeing the benefits of using blockchain technology and using Ethereum blockchain is smart decision. Ethereum is more matured and having the largest developers and majority of startup companies are using Ethereum blockchain. These will have a significant impact in ether price in a long run.

There are dozens of super projects in the Ethereum network. However, most of them go to mainnet at the first opportunity. I don't think these will affect the price of Etheruem.

This news needs clarification: The point is that the Societe Generale (French bank) bank issued just one bond to itself. No other investors but the bank:
Check the full news for yourself here: https://www.coindesk.com/french-lender-societe-generale-issues-112-million-bond-on-ethereum

Big financial institutions adopting blockchain technology is great because its a boost to cryptocurrency because the more big institutions adopting Crypto, the more regulated it'll be. And what implication this will have on ETH I don't know because ethereum have been crawling since bitcoin have picked in price, I hope this move by this one of the largest bank in France to join the ethereum blockchain will be of positive

Although it is just an internal coin for bank but yes i would say this will help boost eth because each transaction will yield some fee for eth network and bring more liquidity for eth network secondly such news are overall positive for market as they indicate mass acceptance and adoption happening slowly but surely.

If Societe Generale Bank really want to using the Ethereum network and issuing a new token for their architecture,
the Ethereum value maybe only rise slightly. I think the more peoples and companies using cryptocurrency, the more value it will have.

Great to see European finances leading crypto development. European nations have shown a greater degree of crypto acceptance through the level of government.
Switzerland, Malta, Estonia, Luxembourg all have some project that are making a difference.

As Bitcoin and the Crypto currencies are legal in France in which the government imposed only a small Bitcoin tax on every direction that the bank see this more favorable in the banking system therefore for me it will be a big deal because it will benefits both the crypto market and the bank itself as many people are now joining the crypto currencies investment.This is a good development in favor of Crypto currency as it might trigger the bullish run.

Good news, no doubt. But it won't turn on the bull market trigger.
Too little for this, but enough to understand that the cryptocurrency world will eventually be adopted by the financial system.
Events like Bakkt, Bitcoin ETF are more suitable for the bull market trigger. People have high expectations from them

Seems as good progress in adoption. But if this project is released like JPmorgan, I think it will not related to crypto. In other respects, such innovations can encourage people to cryptoworld.

It's a big deal for Ethereum IMO.

Basically nobody's buying coffee or taxi rides in ETH. The killer app for Ethereum has been the sheer amount of projects done on top of it.

Think about it: how many billions of U$ are relying on Ethereum virtual machine right now?

There are immense projects like BAT and POWR who rely on Ethereum blockchain. And ETH delivers!

The more projects use Ethereum, the stronger it becomes. Gas must be bought in ETH, smart contract commands depend on gas and so on. Having big projects in the Ethereum blockchain makes all the difference.

About the French bank issuance: I am skeptical of centralized financial institutions issuing cryptocurrency. It's exactly what we don't want technology-wise.

But marketing-wise it's great, one more financial institution generating buzz about cryptocurrencies is great for the community. It's just not a killer app IMO.

Ethereum finally getting some attention, lately it has been binance chain, eos, tron, neo and all the likes of that getting attention of ethereum and that resulted with ethereum not having too much increase lately, ethereum investors like me need these type of news to show that ethereum is not dead and it can still produce a lot of big things like it.

Ethereum is basically all in one package and I can understand people looking for alternatives, bitcoin was an alternative itself to fiat currency so of course nothing should be a monopoly but we do not want to destroy ethereum at the same time neither, we just want some healthy competition. Large bank working with ethereum blockchain and creating a token is probably not that huge since its probably experimenting but it is still a big step forward to crypto space.

That is one hell of a big bank there and I think they have their branches in virtually all francophone countries, there adoption of ethereum to run their blockchain technology will really expose a lot of its users to ethereum network, and their product may require the use of ethereum token from time to time for their operation.

So I think this will really be a very big boost to the ethereum network, the magnitude of this bank customer is quite big, and most of them are very rich individuals that have enough money to be a BULL when they decide to join the ethereum network through the bank’s product.

I agree! Financial institutions such as banks are joining the Ethereum bandwagon and maybe exploring its benefits and testing how its existing platform could integrate with it. There has been recent news of banks worldwide that already uses Ethereum or have plans to adopt it which seems a good news to the entire crypto community.

I think that some kid will make a smart contract and lock some of those tokens somewhere and there will be a lot of drama. Something that happen several times on ETH asset platform.

This is great news. I hope to see how the whole world accepts cryptocurrency. Although this is a small step, but it is of great importance for cryptocurrency.

there no big deal for this news we should know ethereum  since from the start they for every project, I think this moves have an good effect for ethereum using blockchain platform.

It does and it does not, what makes the market value of ethereum grows is when people add money to their ethereum wallet, and since purchasing new token requires that they fund their ethereum wallet which they will transfer to the project developer, at that point they deposit fiat and change to ethereum, it will definitely add up to the value of ethereum.

The reason why its effect will later be reduced is because the ethereum was deposited for a purpose, it is just like paying salary with it, ethereum deposit for salary purpose will not stay long in the market, so as ethereum deposited for the development of project will not stay long in the market too.

Project developers must definitely cash it out in fiat to carry out the project, if the entire project that had carried out their ICO through Ethereum had left their money in the wallet, the value of ethereum would have probably reached ~$2000 by now.

Any ethereum smart contract will come to first while try to implement blockchain technology for any domain either bank or any other gradually they move into their mainnet even ethereum is the best coin you can always invest in . Once pos and Casper implementation done there will be huge growth for sure.

This is a good sign that banks started to adopt blockchain technology most especially in France. I do hope that other countries will also follow it's step for a much safer, transparent and convenient way of transactions. For me it has influence of course as we all know that price would go up and adoption will also rise. If only majority of countries around the world has to follow this move it can be beneficial to all crypto enthusiasts.

what I can say is that it's a good and welcomed development to be honest. We want to see many adoption including banks and vcs not just ordinary people as that will help boast the market and more awareness as well

Basically the blockchain technology is invented for the banking and the financial institution for the fast transactions. But, due to the hurdle in the different economy still it is not accepted fully. But, the countries which are appreciating this technology the banking institutions are coming fast to issues the token on the ETH blockchain. I think France has the open to the blockchain technology and so the banking industries are coming fast.

I don't think it will affect the Ethereum price. However I believe it will turn some lingering negative sentiment into positive ones. For the long time holders, it is one among many signs that there are more exciting developments to come.

This is nothing new to make investors start buying ethereum fast because all good projects using erc20 always end up switching to there own block chain sooner or later

What makes you think so? If the Bank will use Ethereum in its services, then at least pay a commission for gas. As you know, the more transactions, the greater the likelihood that the price will be higher.Any Bank is a large number of transactions.France is very loyal to cryptocurrencies and I think over time there will be a lot of positive news related to France and cryptocurrencies.

I don't think it is the right time for this but I guess we don't really know what will happen. Like this bank in france having a token on ethereum blockchain. That is amazing and great news to all of us this means that they are starting to adopt cryptocurrency which we all like.

I think this is a big deal. We knew that ethereum used for bussiness platform and if societe generales using ethereum network, off course this is a big deal because this company is big banks in french. This could lead ethereum price back to above $500 again

But this was always to be expected from such a coin. Ether had its intrinsic value in being the fuel to power dapps and transactions, and secure different networks but the flood of ICOs raising money in ETH basically spelled the death of Ether,,, at least temporarily. Not a single person can say that $1400 was an appropriate price for ETH, not at the time, Today at least we see a more reasonable estimation, and now, when news like this French bank taking it on become the norm, then we can see a gradual and reasonable increase in value.

This is a very good news for all cryptocurrency fans, it seems banks are now adopting blockchain innovation, and is a very good improvement for cryptocurrency and an assurance cryptocurrency future is bright.