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Coinbuddy (OP)
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June 17, 2015, 07:09:08 AM |
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Blockchain technologies could reduce banks' infrastructural costs by $15-20bn a year by 2022, a new report from Santander InnoVentures claims. The FinTech 2.0 Paper, produced in collaboration with Oliver Wyman and Anthemis Group, says distributed ledger technology could save banks money by eliminating central authorities and bypassing slow, expensive payment networks. Source: http://www.coindesk.com/santander-blockchain-tech-can-save-banks-20-billion-a-year/ |
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Jesu
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June 17, 2015, 11:06:26 AM |
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It's nice to see certain banks coming round to the technology behind bitcoin instead of trying to fight or slander it, but my concern is even if they adopted it for their infrastructure they likely wouldn't actually be adopting bitcoin just the blockchain tech so not sure how it will have an impact on bitcoin sadly.
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Lauda
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Activity: 2674
Merit: 2965
Terminated.
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June 17, 2015, 11:16:26 AM |
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I know what is going to happen with those $20 Billion. More profit for the bankers.
I hardly doubt that we are going to see lower interest rates or similar potential benefits for the customers. Blockchain technology has so many potential implementations and can save a lot of money.
The current ways of processing money, handling data and such are very sluggish and inefficient.
Well it looks like times have been changing. They went from fighting Bitcoin to adapting its technology.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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Mellnik
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June 17, 2015, 11:19:46 AM |
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Another shitbank phantasying on how to make them even more rich.
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okae
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northern exposure
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June 17, 2015, 11:23:39 AM |
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Another shitbank phantasying on how to make them even more rich.
yes i was thinking the same when i read the news, from one side is sad because they want to use it to make them even more rich, thats true, but in the other hand is good that they start to use our tecnology, so in the end i didnt know if this is goor or not lol im confused  xD |
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neoneros
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June 17, 2015, 11:48:27 AM |
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They should see it is time to dump their whole banking business and start accepting they are losing control. Making your own blockchain, even if it has blackjack and hookers, will not affect the path the economy and the world has taken to a decentralised banking system, to a free economy for everyone. Let's hope bitcoin will stay ahead of regulations and will be free forever. The doomscenario with the banks is we will have the blockchain technology in use, but the only ones who profit are the bankers. It would be sad if they could take the hard work of Satoshi and the bitcoin team and abuse it to backstab their customers over again and again.
It is nice to see they want to improve the system. It will take a lot of investment from the banks all over the world before they can actively use it and make it work. It needs hours of talk in commissions, a lot of big ego's to please, it will probably be too little too late.
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WhatTheGox
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Merit: 1000
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June 17, 2015, 11:52:35 AM |
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Blockchain technologies could reduce banks' infrastructural costs by $15-20bn a year by 2022, a new report from Santander InnoVentures claims. The FinTech 2.0 Paper, produced in collaboration with Oliver Wyman and Anthemis Group, says distributed ledger technology could save banks money by eliminating central authorities and bypassing slow, expensive payment networks. Source: http://www.coindesk.com/santander-blockchain-tech-can-save-banks-20-billion-a-year/Well i currently have an ISA with them paying something like 1%, they should swap to "bitcoin tech" and double my high end saving rate  |
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NorrisK
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June 17, 2015, 12:36:39 PM |
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What would prevent them from building their own blockchain? There is not really a need to use the bitcoin blockchain right?
Banks would need to use the same blockchain to make transactions though, which could complicate things..
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LiteCoinGuy
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In Satoshi I Trust
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June 17, 2015, 03:09:19 PM |
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What would prevent them from building their own blockchain? There is not really a need to use the bitcoin blockchain right?
Banks would need to use the same blockchain to make transactions though, which could complicate things..
Here's how one of the world's biggest banks wants to use bitcoin technology
Banks mostly aren't interested in bitcoin, but they are interested in the software that runs the digital currency — the blockchain.
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Belinky told BI: "We’re very excited about distributed ledgers and blockchain technology. They really have the potential to disrupt many of the basic processes we have underlying our transactional products."
"What we see as the foundation use case, which is international payments, we don’t really need a coalition of 50 banks to make it work. We have ten major geographies. Just us connecting our ten major geographies will allow 100 million customers to make instant payments worldwide. If we partner with two or three banks similar to us we’ve got pretty much global coverage."
But Faura adds: "This thing will only be interesting if many banks take part and collaborate. We are talking and experimenting with several banks."http://uk.businessinsider.com/santander-has-20-25-use-cases-for-bitcoins-blockchain-technology-everyday-banking-2015-6?r=USgood luck with your intranet - i hope the other banks dont cheat...  |
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