|
Title: [2018-05-15] German Bank Uses Bitcoin’s Blockchain for International Loans Post by: BitcoinArsenal on May 15, 2018, 04:41:01 PM German online bank Bitbond has announced it uses the Bitcoin’s blockchain to facilitate international transfer of fiat loans. Loans are transferred to the borrower using Bitcoin only to be converted back to fiat currency once the international movement is processed. This allows customers to avoid fluctuating exchange rates of fiat currencies.
Full article on NewsBTC (https://www.newsbtc.com/2018/05/15/german-bank-uses-bitcoins-blockchain-for-international-loans/) Title: Re: [2018-05-15] German Bank Uses Bitcoin’s Blockchain for International Loans Post by: Theb on May 15, 2018, 04:57:18 PM I am not aware of the name of such bank. But with further readings I decided to visit their own website and find out that it is indeed registered in Germany but this "banks" is of course available to foreigners. I can't officially call it as a bank because only the loaning service is made available to the public. Unlike real banks where they offer cash and checking accounts, Treasury and cash management services, and Credit Card availability BitBond does not, I can't even call it as a real bank.
Also the fund they are getting is from people who are interested in investing in their platform, which they are offering 25% per annum, Which is really big to be given buy a bank, the numbers are really big and is almost unsustainable in the future. Title: Re: [2018-05-15] German Bank Uses Bitcoin’s Blockchain for International Loans Post by: cryptorocket84 on May 16, 2018, 03:55:50 PM Cryptocurrency have come to stay; as days go by, the more popular it become. The gospel is spreading like bush fast. I am surprise at all. time will come when all the countries will all accept it.
Title: Re: [2018-05-15] German Bank Uses Bitcoin’s Blockchain for International Loans Post by: Karartma1 on May 16, 2018, 06:08:45 PM Bitbond is not a bank, it is a bitcoin-based lending platform! Their motto is “see no bank, hear no bank, speak no bank”.
I used it once in 2014 and lost 0.25 in a scammy loan. Title: Re: [2018-05-15] German Bank Uses Bitcoin’s Blockchain for International Loans Post by: richardsNY on May 16, 2018, 06:58:37 PM I am not aware of the name of such bank. But with further readings I decided to visit their own website and find out that it is indeed registered in Germany but this "banks" is of course available to foreigners. I can't officially call it as a bank because only the loaning service is made available to the public. Unlike real banks where they offer cash and checking accounts, Treasury and cash management services, and Credit Card availability BitBond does not, I can't even call it as a real bank. It may not be even close to what traditional banks look like, but it's actually a bank or financial institution (whatever you prefer to call it) due to their license. I actually like that they keep things very simple. Can you tell me what the point is for them to function as traditional bank while we are actually our own bank and can do most of it ourselves? Banks and other similar services should focus on everything else that's optional and offers people the convenience in case they demand it. I am quite sure that in the coming few years everything will change significantly, and crypto in general will be the real winner here.... |