Banks are 'very excited' said Bitpay

[Amph]

If they create there own centralized blockchain its really just a updated ledger. 

they will look at the news about IBM, they want to create a centralized version of bitcoin, with a centralized ledger https://bitcointalk.org/index.php?topic=1095347.msg11672985#msg11672985

it will change nothing in comparison with their current system, besides more transparency on the ledger maybe...

[1715621355]

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[Kprawn]

Bitpay has shifted its focus from letting businesses accept Bitcoin to getting people interested in Bitcoin in the first place. The company is doing this by building the infrastructure and tools to make Bitcoin more accessible. In the process, they've stumbled on a new market — big banks.

Clearing is the process of actually moving money from one account to another

the so-called "blockchain" software underpinning it makes transfers much faster.

the likes of Citi, UBS and Santander are all looking at blockchain technology

tldr: banks are very excited that bitpay is working on a solution to apply "blockchain technology" to the way they do business.

Would banks make their own blockchains if that's the case? Who would pay for the mining consumption and the miners to keep the network stable?

Yes, They have the financial backing to pay people to create their own "Blockchain" type technology. They can even use the Blockchain, but it would be a risky move. They need something that they have full control over and they want to have it fully centralized.

A big banks, have many branches with loads of computers. They can install Asic miners in all of these branches to keep it decentralized within the group. {The ledger is distributed  and it's still internal and therefore provides for increased security}

My guess... They will not use the Bitcoin Blockchain.

[chennan]

Yes. But banks need to attach a coin to the blockchain, most likely bitcoin.

No need! Coins attached to blockchain is for the aim of incentivise the miners to secure the blockchain. Banks has being making a lot of money and could save a lot of cost from applying blockchain technology.

why wont banks be excited for anything ?
banks just find a medium for them to be a source of income . in order to earn some money they can do anything.
and since bitcoin is growing day by day , it can be a perfect target for the banks to acquire bitcoins and mange a transaction via bank so that they have some commission in it too.

IMO banks wouldn't adopt bitcoin directly and will compete with it. Coz bitcoin is independent decentralized system without the third parties.

[Wexlike]

Yes. But banks need to attach a coin to the blockchain, most likely bitcoin.

No need! Coins attached to blockchain is for the aim of incentivise the miners to secure the blockchain. Banks has being making a lot of money and could save a lot of cost from applying blockchain technology.

why wont banks be excited for anything ?
banks just find a medium for them to be a source of income . in order to earn some money they can do anything.
and since bitcoin is growing day by day , it can be a perfect target for the banks to acquire bitcoins and mange a transaction via bank so that they have some commission in it too.

IMO banks wouldn't adopt bitcoin directly and will compete with it. Coz bitcoin is independent decentralized system without the third parties.

The interesting thing is, that banks don't trust each other. A decentralized prediction market is a big opportunity for banks to adopt bitcoins.

[AtheistAKASaneBrain]

If they create there own centralized blockchain its really just a updated ledger. 

they will look at the news about IBM, they want to create a centralized version of bitcoin, with a centralized ledger https://bitcointalk.org/index.php?topic=1095347.msg11672985#msg11672985

it will change nothing in comparison with their current system, besides more transparency on the ledger maybe...

A centralized ledger totally defeats the point of having a blockchain. Having a classic master ledger that is issues and controlled by the private entity you own is way more cheaper and does basically the same as having a centralized version of a blockchain. These guys are just fucking clueless. Everyone not just joining the Bitcoin blockchain is committing a big mistake and history will show us why.

[neoneros]

A 'centralised' ledger within the different banks will secure the trust between global transactions. It does have a benefit for the banks, they can make cross-bank and international payments more controled and transparant, reduce the overhead costs and get bigger bonusses for the bankers!

But it will be a futile attempt to overcome the economic revolution that has started, the banks will topple, twitch their wretched leggs and die slowly, the picture of the lobsters was a nice one