Standard Chartered, a London-based multinational banking and financial services company has shown interest in the blockchain. A distributed ledger technology has the potential to become a model for a low-cost and transparent transaction infrastructure, suggests Anju Patwardhan, a Chief Innovation Officer at Standard Chartered.In her post published on LinkedIn, Anju examines the possible advantages of the blockchain if leveraged by banks.
She states that “no bank can afford to ignore what it augurs for the ongoing avalanche of digital innovations to come”.
Even though Bitcoin is unlikely to replace paper money, banks could benefit from implementation of a distributed ledger technology to improve security and integrity of the financial system. This could benefit the customers through lower trading prices and safer money transfers and remittances.
http://www.coinfox.info/news/company/2440-standard-chartered-banks-can-t-ignore-the-ongoing-avalanche-of-digital-innovations
