[2015-11-24] ET: Blockchain technology could reduce role of banks, says BIS

[polynesia]

Blockchain technology could reduce role of banks, says BIS

http://realty.economictimes.indiatimes.com/news/technology/blockchain-technology-could-reduce-role-of-banks-says-bis/49901270

Blockchain technology could reduce the role of intermediaries such as banks and settlement houses, the Bank for International Settlements - or "the central bankers' central bank" - said in a report on Monday.

Blockchain technology - or distributed ledger technology, as many financiers prefer to call it - is what underpins bitcoin , a controversial web-based "cryptocurrency".

[sunildhillon]

I do share common conclusive thoughts with BIS.

[Digitalbitcoin]

It must. Because Bitcoin is cryptocurrency and to make trade at certain level it must have to keep banks away. And at certain point user can take equivalent amount by only regulated, authorised, safe and secure source. Now a days with bitcoin due to an anonymous identity major scams are happening.