Dear banks, it's not about blockchain technology

[p2pbucks]

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

 

[Q7]

I also have the same opinion which I don't understand their motive. Even if they come up with another blockchain based monetary control system which they claim will make it more transparent with more accountability in it, for me, it won't make any difference. Banks are still banks. The last thing that we want to see is to have our money getting frozen and being charged ridiculously fee to use the service.

[franky1]

banks wont use blockchain tech for the consumer savings and loan market.,
the simple reason is they love creating money out of nothing, when people sign credit/mortgage agreements. they simply add a new balance to the account. but
having a system that has a locked-in limit or require waiting for x blocks to accumulate a certain amount of coins is not in their business plan.

it would be private investors looking for a new asset/commodity market to play the price swings that would and are interested in blockchain tech. its like digging for gold without having to sweat or get dirty. and then playing the markets.

[aso118]

Bank'll use blockchain to reduce their operation costs, not make their customer happy.

Exactly - Banks will try to reduce vast, redundant middle offices through blockchain technology.
The only benefits that customers will have is reduced settlement times and lower errors.
This is a fringe benefit of banks using new technology and is not the reason why banks adopt it.

[Hazir]

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

Answer is simple - We can't. We are part of the current system when banks are ruling our lives, we can't do anything to fight back.
To destroy banks we would need to live similar to Amishes. But I think there is a way, but it is not simple or fast - just as now standard TV is losing  audience due to internet, similar banks will lose clients in the future due to cryptocurrency.

[Possum577]

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

"...it's about ideas, bruh!" ---- from Kanye "Douchbag" West

For some reason I felt that needed to be said. Which bank has a private blockchain hoax? You're absolutely right though, they won't get more individual accounts (i.e., accounts from regular folks like us) by implementing a private blockchain. But, that's not why they're creating/exploring blockchain technology. The technology makes it cheaper for them to process their transactions...

But, it's important that we vote with our wallets if only to bring success to the Credit Unions and local banks that are doing it honestly and properly and in ways that help our local communities.

[Amph]

i think they know that the difference between a private blockchain and their scam is basically zero

they are going toward that way because of low cost and faster transaction, and a better organized ledger

[LiteCoinGuy]

that was indeed a good slogan OP

i would like to see the banks burn by the way 

[Denker]

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

Answer is simple - We can't. We are part of the current system when banks are ruling our lives, we can't do anything to fight back.
To destroy banks we would need to live similar to Amishes. But I think there is a way, but it is not simple or fast - just as now standard TV is losing  audience due to internet, similar banks will lose clients in the future due to cryptocurrency.

So the way out of getting more and more controlled by banks is to use crytocurrencies like Bitcoin (decentralized,permissionless, borderless networks with embedded value tokens). We are the pioneers and early users of a possible future monetary system which will thrive and exist beside the old traditional dying system. 

[p2pbucks]

i think they know that the difference between a private blockchain and their scam is basically zero

they are going toward that way because of low cost and faster transaction, and a better organized ledger

Comparing to the traditional database cluster , could blockchain make transaction faster ? I don't think so 

[Mickeyb]

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

 

Well you cannot really blame banks and banksters that they want to keep their control and control over our money (and our lives). After all, they were doing this for ages. I don't think they will give up this easily.

In the short-term these centralized, private blockchains will work for them, but not in a long-run. In the long-run they are toasted!

[n2004al]

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit
 

Dear OP. No one ask or force you to send money to the bank. If you want to do this you send the money there and they give you profit. Small or big this is another question. But are you who choose the bank and not the bank you. The bank is an normal business which work with the money and make money. They don't control nothing (for more your money) if are not you in person who go to them and give those your money.

As about the application of blockchain from those this a sign that in those work the most intelligent people that have understand the potential of peer to peer and its application blockchain. Do not worry about this. This a very good sign for peer to peer and if it is good for peer to peer it is more good for bitcoin itself. I hope that their example be followed as soon as it will be possible from to many other businesses. This will be a big step ahead in the known of bitcoin and its potential by to many others.

[Kprawn]

I pulled out most of my money from banks, since I understood how they "recycle" money into "nothingness" .... A good example was when the Greek people went to the banks to

withdraw their money, during the last economic crisis. People were crying in front of closed doors and the banks felt nothing for them. They even told them, how much of their own

money they can withdraw daily. I think they will use the "Private" Blockchains to transfer money between different bank groups and the central bank. The current methods are too

expensive.  ....In phase two, they will develop a "private" Blockchain for customers. 

[btc_enigma]

I hear bankers saying we don't find bitcoin interesting , but we are interested in blockchain technology. Which I find a paradox...

Of course you don't like bitcoin because you lose the power to mint it yourselves. You would rather use blockchain technology and start an altcoin yourselves.

[VirosaGITS]

I hear bankers saying we don't find bitcoin interesting , but we are interested in blockchain technology. Which I find a paradox...

Of course you don't like bitcoin because you lose the power to mint it yourselves. You would rather use blockchain technology and start an altcoin yourselves.

They don't want an altcoin, they just want to use blockchain technology for storing ledger information, verification, archiving, authentication/validating signatures. An altcoin is pointless to them.

The Coin is just one possible application of this great technology.

[randy8777]

I hear bankers saying we don't find bitcoin interesting , but we are interested in blockchain technology. Which I find a paradox...

Of course you don't like bitcoin because you lose the power to mint it yourselves. You would rather use blockchain technology and start an altcoin yourselves.

They don't want an altcoin, they just want to use blockchain technology for storing ledger information, verification, archiving, authentication/validating signatures. An altcoin is pointless to them.

The Coin is just one possible application of this great technology.

a lot people think when banks say they are interested in the blockchain technology that banks are making their own coin. that's not the case as you also mentioned. the technology can work perfectly fine without the coin part.

[Amph]

i think they know that the difference between a private blockchain and their scam is basically zero

they are going toward that way because of low cost and faster transaction, and a better organized ledger

Comparing to the traditional database cluster , could blockchain make transaction faster ? I don't think so 

i guess proof of integrity is the only advantage then

http://bitcoin.stackexchange.com/questions/38711/is-a-private-blockchain-better-in-any-sense-than-a-database

[pereira4]

The good news on banks focusing on this crap is that they are putting their energy into a dead end, so in the meantime you can focus on obtaining cheaper Bitcoins. If all the banks jumped on the Bitcoin blockchain the price would raise too much. It's actually a good thing to have a low price for people like us that don't have that many BTC so we can stack them properly.

[VirosaGITS]

The good news on banks focusing on this crap is that they are putting their energy into a dead end, so in the meantime you can focus on obtaining cheaper Bitcoins. If all the banks jumped on the Bitcoin blockchain the price would raise too much. It's actually a good thing to have a low price for people like us that don't have that many BTC so we can stack them properly.

Its not a deadend. Its blockchain technology in a sense that's absolutely not related to Bitcoin. You can rest easy, banks have no interest in jumping on BTC, they live on FIAT. The blockchain technology however will be very yummy for them. Not that it will change much for customers for a long time.

[coinplus]

Banks will understand slowly that bitcoin itself offers a banking system to people.
Even every country has their own fiat, Gold alone acts as a world wide accepted medium of exchange. Same way even every government or bank creates their own crypto-currency, only bitcoin can act as a inter-medium for both exchanging as well as value reference.
Then people will slowly realize what is the need of a new coin which needs bitcoin to get it's own value.