[2015-11-19] The Bankchain Part I: Implementation and Problems

[jdebunt]

Various banks and other financial institutions around the world have been looking into the concept of blockchain technology. While there are many advancements to be made in the financial world with this technology, the blockchain might not be implemented in a way most of the Bitcoin community would agree with. Bankchain, as this implementation is called, will pose quite the challenge.

https://news.bitcoin.com/bankchain-implementation-and-problems/

[fancy_pants]

Legacy payment processors must provide a grace period during which time transactions can be reversed. Regulations are such that banks cannott implement instant non-reversible bitcoin for payments.

The last thing payment processors want is faster clearing.  It would decimate their treasury if they can't hold other people's money for a few days.

In a nutshell, the only reason banks and traditional fintech companies even use the word blockchain and bitcoin is so that they can get free PR.  It's click bait pure and simple.

[RealBitcoin]

The last thing payment processors want is faster clearing.  It would decimate their treasury if they can't hold other people's money for a few days.

Your average ponzi scheme also tries to delay or discourage you from withdrawing. Seems pretty similar if not identical.