[2016-07-18]SAP in The First Blockchain Payment Between Canada and Germany

[BTCBinary]

SAP Collaborates in The First Blockchain Payment Between Canada and Germany

Blockchain technology is finally transitioning from experiment to usability concept in the financial world. SAP, one of the largest networks in the industry, partnered with ATB Financial, Ripple Labs, and ReiseBank AG to send an international blockchain payment. Transferring funds from Canada to Germany was a breeze, and the cost was minimal compared to traditional means...

http://www.newsbtc.com/2016/07/18/sap-collaborates-first-blockchain-payment-canada-germany/

[Gahs]

Banks are finally flowing with the tide, a long awaited change. I think we are going to see more of this. Say by 2020, most banks (if not all) would have adopted blockchain.

[DooMAD]

Apparently this isn't Bitcoin news as it involves Ripple (yuck).  Posted it a few days ago, but it got moved to altcoins.  Also, it isn't really even news, since millions of international blockchain payments have been made over the last seven years.  The banks are far behind the times.

[Carlton Banks]

Seeing as Bitcoin is the only non-experimental blockchain with any real uses, one can only assume that the "first" here is for an experimental-only system. And when you consider that Bitcoin was itself an experiment to begin with, it's pretty safe to say that this is not pioneering in any way. If you looked at the details, you'd likely find that it probably wasn't a true blockchain system anyway (i.e. centralised and therefore easily corrupted). Fail.

The fact that Ripple Labs are involved in this nonsense proves how badly this headline corresponds to reality: Ripple is a blockchain based competitor to Bitcoin (that failed), and even the Ripple system has been used to make international Blockchain-based payments, and that was several years ago. Fail.