How Bitcoin technology could change banking in Canada
The virtual currency Bitcoin has earned a reputation as a plaything for libertarians or a tool used to covertly buy drugs on the Internet.
But more recently the technology underlying the currency — referred to as “blockchain” or “distributed ledger” technology — is being touted as the next big thing poised to transform the financial services industry.
In order to prevent themselves from being blindsided, Canadian banks are jumping on board, exploring ways the technology can help streamline their processes.
“I do think blockchain is a massive opportunity,” Linda Mantia, executive vice-president of digital, payments and cards at Royal Bank, said during a panel discussion on financial disruption in Toronto late last year.
http://www.thestar.com/business/2016/01/27/canadian-banks-experiment-with-bitcoin-technology.html
