NY Bank interested in blockchain.

[NUFCrichard]

Really it seems that banks and wall street are interested in reducing their paperwork, so they would like to switch things to a blockchain, that is to be expected as it is much more efficient.
What is not so clear is how they will protect these blockchains, the main selling point of Bitcoins blockchain is that is is very strong, but it will be too bloated if everyone just hops on the bitcoin blockchain...

I expect the next move to be payment processors looking at Bitcoin to simplify and cheapen their businesses.  It's slow, but gradually people are realising that the technology is very worthwhile.

[bronan]

As i saw earlier and already stated several times, banks and large companies do not want to get involved in bitcoin at all.
They are looking into the blockchain tech behind it, which they will try to incorporate into their systems.
This blockchain has absolutely nothing todo with any crypto coin out in the wild.

[Snorek]

Few minutes ago I had a meeting to explain the blockchain to some middle management of the company that I work for. They wanted to understand what the company can offer to a NY bank because the bank has a budget item to invest "in blockchain", whatever that means.

Not so long time ago there were news that IBM will cooperate with Federal Reserve Bank to investigate and develop their own version of blockchain. I think this is just aftermath of this news, now every bank will want to study and develop something similar. Just because if IMB and FRB has it then everyone else think it will be future of Financial System.

[LiteCoinGuy]

Bank lobby group:

https://www.iif.com/publication/html-publication/internet-finance-unleashing-potential-blockchain-technology

[manselr]

Few minutes ago I had a meeting to explain the blockchain to some middle management of the company that I work for. They wanted to understand what the company can offer to a NY bank because the bank has a budget item to invest "in blockchain", whatever that means.

What all those idiots seem to still don't get is the fact a blockchain is not going to properly function without an highly active cryptocurrency, which renders using anything that isn't Bitcoin stupid.