There have been a lot of headlines lately about the growing interest in blockchain technology from banks around the world. While Bitcoin remains something of an unproven resource — valuable but nowhere near the potential some people still envision — the public ledger used to track its transactions has proven to be of major interest to a number of industries. The idea of a blockchain system in which transactions are automatically and always recorded is a simple concept with the potential to greatly improve the speed, accuracy, security, and transparency with which business is conducted.
Just this fall we saw nine of the world’s biggest banks join forces to create a framework for using blockchain in financial markets. And in the time since, even more banks have joined in, resulting in a very real initiative to take Bitcoin’s technology and turn it toward existing financial systems. The core concept underlying this movement is to improve transparency and facilitate big data analysis that would theoretically allow banks to better understand and ultimately balance economies.
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http://themerkle.com/news/microsoft-dives-in-on-the-blockchain/
