[2016-03-17] Banks need to integrate with Bitcoin, now

[LiteCoinGuy]

Banks need to integrate with Bitcoin, now

Predictions on Bitcoin's future have been as varied and optimistic as a reserve currency to rival the US Dollar, a threat to the Debit and Credit Card business models, a disruptor of remittance corridors (despite the challenges of the “last mile”) as well as the notarisation and document registration industries.

Yet the currency has also been dismissed and written off so many times there is an ironic collection dedicated to the subject and, lately, particularly amongst the financial industry as merely an interesting app on the far more interesting piece of technology: the “blockchain”.

Max Tannahill is a change manager and business analyst at ANZ

https://bluenotes.anz.com/posts/2016/03/the-case-for-bitcoin/

[richardsNY]

The majority of the banks aren't interested in Bitcoin. They just put a research team on the technology of Bitcoin to see what's possible, and after that they will most likely end up using their own version of the block chain. It's all about control. They simply can't control Bitcoin as they can do with their fiat system right now. That's reason enough for them to not integrate Bitcoin in their system.

[Iseecookies]

Adopting Bitcoin would also counter the threat of Apple Pay, Android Pay and payments in Facebook Messenger. As an open protocol, Bitcoin would offer users far more flexibility in how they would transact than the closed ecosystems these services will inevitably bring.

Think this is what stuck out from that article the most,part of me thinks that if these parties start to get a hold on the system in any effective means,it will be a bad thing for the whole world. Apple is famous for creating new chargers on their systems so people are forced to upgrade. Imagine what they would do with a cornered financial market!

[LiteCoinGuy]

The majority of the banks aren't interested in Bitcoin. They just put a research team on the technology of Bitcoin to see what's possible, and after that they will most likely end up using their own version of the block chain. It's all about control. They simply can't control Bitcoin as they can do with their fiat system right now. That's reason enough for them to not integrate Bitcoin in their system.