The largest bank in Norway announced cooperation with IOTA ...

[annstasia009]

... But it is hardly to be expected that the attitude of the country's banking elite to crypto-currencies from this will change at once

 

DNB ASA is the largest bank in Norway (market capitalization is almost 240 billion US dollars). Therefore, everything that is somehow connected with crypto-currencies, for the time being was for this financial institution under the ban. But recently it became clear that the philosophy "I do not see anything, I do not hear anybody" is a dead-end, therefore the bank was closely interested in various technologies of the distributed registry in general and crypto-currencies in particular.

 

The bank already participates in several projects, one way or another related to Ethereum, Hyperledger and EOS, but the appetite, as is known, comes with eating. Yesterday, official representatives of DNB ASA announced that the financial institution and the IOTA fund are now partners. The priority goals of "fiery friendship" are to search for new efficient business models and develop innovative, more effective methods of working with clients. This is what Lasse Meholm, the head of DLT (Distributed Ledger Technology), told DNB ASA today.

 

A similar opinion is shared by one of the founders and "spiritual leaders" of IOTA David Sønstebø (David Sønstebø). He is sure that the partnership will help soften the attitude of Norwegian financial and business circles to the blockade and the crypto-currencies, because now their status in the country is still very doubtful.
A source- https://ucg.co/news/krupneyshiy-bank-norvegii-obyavil-o-sotrudnichestva-s-iota

[andongdanisi]

Is this true news? Will it be too much today, deliberately demagogic. Is this going to be a problem with the funds behind the team? I think it's just a small coin. What do you think?

[dumplingsandsushi]

Ok.

But isn't IOTA supposed to be the backbone of the Internet of Things?
What practical use can a bank have with IOT?
Isn't IOTA supposed to forgo the necessity of centralized systems (which big banks represent) and fascilitate smooth transaction on the hyperconnectivity of our world?

Or, am I supposed to see this as big banks finally willing to look into structural changes?
To be honest, to me that just seems impossible.

So, for now, I will still wait iota out.
AS always, there can be scenarios where it absolutely explodes and becomes the standard for how blockchain should be implemented (although it's not blockchain).
But, a lot of it seems like such a monumental task that can never be implemented fully.

So even if the price of iota increases a lot this year, I will still see how it goes and decide whether to jump in net year,

[sufiasyl]

It’s a great news for crypto users so we can see that most of the country is accepting based on its facilities and profit so many banks also accepting this based on its value able procedure and benefits so Norway largest bank accept this issue so they will be more benefited also. 

[salinaangel]

This is great news indeed. It proves that the market of crypto currency is getting more expanded. Different types of companies, banking institutions even the government of different countries are showing their interest on this. This will also help the IOTA to have a good start. I think this will have a positive vive on the IOTA.

[IsabellaSophia]

Well but couldn't relate to the reasons behind it. I don't think IOTA is anything of use in present banking system. Let's see what happens next and if it really happens.   

[pitiflin]

But isn't IOTA supposed to be the backbone of the Internet of Things?
What practical use can a bank have with IOT?
Isn't IOTA supposed to forgo the necessity of centralized systems (which big banks represent) and fascilitate smooth transaction on the hyperconnectivity of our world?

Do you really think all ICOs raise money to do what they told others in order to get money? NO.
Read this:

DNB ASA (Den Norske Bank), Norway’s largest financial services group, and the IOTA Foundation (IOTA) have signed a memorandum of understanding (MOU), according to a press release May 31. DNB and IOTA will now reportedly cooperate to explore applications of the IOTA Tangle, a “third-generation” distributed ledger (DLT).

According to the press release, the two parties will work together to find new business models across their respective industries. Lasse Meholm, Head of DLT at DNB, said that one goal of the project is better understand the technology and to let those at the bank who work with clients find opportunities for new use cases.

Source: https://cointelegraph.com/news/norways-largest-bank-to-explore-applications-for-iotas-distributed-ledger-technology

I haven't liked IOTA till now to be honest but will see what their actual potential is.

[TheBeardedBaby]

This is interesting, Sbanken former Skandiabanken has the Coinbase integration for quite some time now, well you can only see your balance in coinbase, you cannot operate or make transfer trough it.

I actually found the news on the coindesk so it was back in 2017.
https://www.coindesk.com/norways-internet-skandiabanken-launches-coinbase-integration/

Looks like Norway is heading towards the cryprocurrency acceptance faster than the other Europeans countries.

[torreun]

Norway's largest bank announced its cooperation with IOTA. If this is true, it is undoubtedly a very good news for encrypted users, which shows that the cryptocurrency market is expanding. National governments, banking institutions, and companies all show interest in this, which will drive the development of the cryptocurrency market.