[2016-10-13] BT: Don't know what's Blockchain technology? Let us explain

[polynesia]

Don't know what's Blockchain technology? Let us explain

http://www.businesstoday.in/sectors/banks/what-is-blockchain-technology-let-us-explain-bitcoin-banks/story/238438.html

ICICI Bank on Wednesday announced that it has successfully executed transactions in international trade finance and remittances using blockchain technology in partnership with a Dubai based bank Emirates NBD.

In 2008, a cryptographer who goes by the pseudonym Satoshi Nakamoto created a crypto-currency called bitcoin. Bitcoin is digital currency that allows you to perform peer-to-peer transactions without the help of a third party such as banks.

Although the enthusiasm around Bitcoin waned after several governments refused to recognise the crypto-currency, but the underlying technology of blockchain has been hailed by the banking sector.

[philiveyjr]

Although the enthusiasm around Bitcoin waned after several governments refused to recognise the crypto-currency, but the underlying technology of blockchain has been hailed by the banking sector.[/i]

That sounds contradictory in itself. From what I understand the banks or the government has already given disregard to bitcoin and are only after the blockchain technology, so why would they even bring up the discussion about recognising cryptocurrencies ?