Although the Bitcoin community can sometimes generalize the entire banking industry as one technologically-inept entity, the reality is that each bank comes to their own conclusions on various fintech innovations. While some financial institutions are mainly interested in generalized blockchain technology, others are looking specifically at the Bitcoin blockchain due to its decentralized and permissionless nature.
Blockstream Chief Instigator Austin Hill was recently featured on the blockchain panel at TechCrunch Disrupt London 2015, and he shared some thoughts on why it may make sense to bring some banking activities onto the Bitcoin blockchain.
Some Banks are Working on More Blockchain Projects Than Others
When speaking on the banking industry’s view on the Bitcoin blockchain, Austin Hill noted that not all banks are looking at this new technology with the same mindset. While some financial institutions are simply building prototypes to showcase internally, other banks are building more mature platforms that could be available to consumers in the near future. Hill explained:
“There are certain financial institutions that I think are just doing this at the innovation group where they want to learn and they build some prototypes then they go showcase it internally to different divisions in the bank, but there are some that are way more mature in their development cycle.”http://insidebitcoins.com/news/blockstreams-austin-hill-some-banks-have-150-people-working-on-blockchain-technology/36173
