Bitcoin Forum
December 11, 2017, 07:37:13 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 [4]  All
  Print  
Author Topic: Why would banks use a blockchain?  (Read 2536 times)
shield132
Hero Member
*****
Online Online

Activity: 588


Watch Agents Of Shield On ABC


View Profile
March 01, 2017, 07:30:59 PM
 #61

Blockchain guarantees that transactions won't be fake and etc, all transactions will be publicly available but that's what banks don't want. Not only banks but even countries have to use blockchain, if you searched, you may know that georgia is first country which turned into blockchain system.
Also it will be a great step against money laundering.

.BITSLER.                 ▄███
               ▄████▀
             ▄████▀
           ▄████▀  ▄██▄
         ▄████▀    ▀████▄
       ▄████▀        ▀████▄
     ▄████▀            ▀████▄
   ▄████▀                ▀████▄
 ▄████▀ ▄████▄      ▄████▄ ▀████▄
█████   ██████      ██████   █████
 ▀████▄ ▀████▀      ▀████▀ ▄████▀
   ▀████▄                ▄████▀
     ▀████▄            ▄████▀
       ▀████▄        ▄████▀
         ▀████▄    ▄████▀
           ▀████▄▄████▀
             ▀██████▀
               ▀▀▀▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄             
▄▄▄▄▀▀▀▀    ▄▄█▄▄ ▀▀▄         
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄       
█  ▀▄▄  ▀█▀▀ ▄      ▀████   ▀▀▄   
█ █▄  ▀▄   ▀████       ▀▀ ▄██▄ ▀▀▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█  ▀▀       ▀▄▄ ▀████      ▄▄▄▀▀▀  █
█            ▄ ▀▄    ▄▄▄▀▀▀   ▄▄  █
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█ ▄▄   ███   ▀██  █           ▀▀  █ 
█ ███  ▀██       █        ▄▄      █ 
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀   
▀▄            █        ▀▀      █   
▀▀▄   ███▄  █   ▄▄          █   
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀     
▀▀▄   █   ▀▀▄▄▄▀▀▀         
▄▄▄▄▄▄▄▄▄▄▄█▄▄▀▀▀▀               
              ▄▄▄██████▄▄▄
          ▄▄████████████████▄▄
        ▄██████▀▀▀▀▀▀▀▀▀▀██████▄
▄     ▄█████▀             ▀█████▄
██▄▄ █████▀                ▀█████
 ████████            ▄██      █████
  ████████▄         ███▀       ████▄
  █████████▀▀     ▄███▀        █████
   █▀▀▀          █████         █████
     ▄▄▄         ████          █████
   █████          ▀▀           ████▀
    █████                     █████
     █████▄                 ▄█████
      ▀█████▄             ▄█████▀
        ▀██████▄▄▄▄▄▄▄▄▄▄██████▀
          ▀▀████████████████▀▀
              ▀▀▀██████▀▀▀
            ▄▄▄███████▄▄▄
         ▄█▀▀▀ ▄▄▄▄▄▄▄ ▀▀▀█▄
       █▀▀ ▄█████████████▄ ▀▀█
     █▀▀ ███████████████████ ▀▀█
    █▀ ███████████████████████ ▀█
   █▀ ███████████████▀▀ ███████ ▀█
 ▄█▀ ██████████████▀      ▀█████ ▀█▄
███ ███████████▀▀            ▀▀██ ███
███ ███████▀▀                     ███
███ ▀▀▀▀                          ███
▀██▄                             ▄██▀
  ▀█▄                            ▀▀
    █▄       █▄▄▄▄▄▄▄▄▄█
     █▄      ▀█████████▀
      ▀█▄      ▀▀▀▀▀▀▀
        ▀▀█▄▄  ▄▄▄
            ▀▀█████
[]
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513021033
Hero Member
*
Offline Offline

Posts: 1513021033

View Profile Personal Message (Offline)

Ignore
1513021033
Reply with quote  #2

1513021033
Report to moderator
1513021033
Hero Member
*
Offline Offline

Posts: 1513021033

View Profile Personal Message (Offline)

Ignore
1513021033
Reply with quote  #2

1513021033
Report to moderator
1513021033
Hero Member
*
Offline Offline

Posts: 1513021033

View Profile Personal Message (Offline)

Ignore
1513021033
Reply with quote  #2

1513021033
Report to moderator
Kray
Sr. Member
****
Offline Offline

Activity: 448



View Profile
March 02, 2017, 12:28:14 AM
 #62

Blockchains don't really offer anything a bank would need.   

They have perfectly good ways of storing and processing transactions already.  With Btc addresses and transactions are publicly visible.  I don't want my bank account and details visible to the world.  Unless you had unique, one shot payment addresses, it would be simple to create a wiki mapping addresses onto organisations and eventually people.  Then there is processing.  Btc only works as it pays miners to verify transactions.  There is no way a bank would give over its processing to a third party that wasn't 100% legit.  Would it run all its miners/verification in house?  How do you explain the 51% threat to a bank?

The openness of block chains isn't really relevant to huge organisations. 

Don't misunderstanding between bitcoin and blockchain. Maybe bank refuse bitcoin, but they can use blockchain as their infrastructure

SERATIO
-


























...PRE-ICO.
..Sep 15th, 2017..













..ICO-START..
  ★..Oct 1st, 2017..
funkenstein
Hero Member
*****
Offline Offline

Activity: 979


Khazad ai-menu!


View Profile WWW
March 02, 2017, 11:58:49 AM
 #63

The only answer is profit. Everything that banks do is only because they see the opportunity to earn money and make profit. They see in blockchain new technology they could easily use in they business, lower the costs and run profitable business. Simple as that. But the fact that banks will implement blockchain technology will not influence Bitcoin in negative way.

Yup.  Customers want to use blockchain assets like bitcoin and so financial services providers (aka banks) will need to use a blockchain to enable these services. 

"Give me control over a coin's checkpoints and I care not who mines its blocks."
http://vtscc.org  http://woodcoin.info
DoublerHunter
Hero Member
*****
Offline Offline

Activity: 644

★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile
March 02, 2017, 12:17:11 PM
 #64

Banks would use blockchain because it is more affordable and also it can expand the number of its users because those people who are using blockchain will try banks that use blockchain too. Blockchain is much cheaper than the traditional system and it also offers fast transaction, So i think banks should use blockchain as soon as possible.

bitart
Hero Member
*****
Offline Offline

Activity: 700


View Profile
March 02, 2017, 01:26:00 PM
 #65

Banks would use blockchain because it is more affordable and also it can expand the number of its users because those people who are using blockchain will try banks that use blockchain too. Blockchain is much cheaper than the traditional system and it also offers fast transaction, So i think banks should use blockchain as soon as possible.
It's not so easy. There are two different things:
- Banks would use blockchain, because it will be faster and cheaper: Yes, it's blockchain, not Bitcoin
- People are using blockchain: Yes, because people use Bitcoin which is blockchain too
- People will search for banks who have implemented the blockchain technology: No, because people won't mind what's behind the scenes in banks' system, is it a blockchain or not, they only want cheap and quick service, and they don't care about how banks solves this inside their systems. If banks can solve it with blockchain or without blockchain, people usually don't care
- Banks should use blockchain as soon as possible: Yes, because they can cut their costs on international transfers  (with blockchain and not with bitcoin). National transfers and intra-bank transfers are quick and cheap without blockchain, so banks won't develop this. International transfers are mainly used by companies (most of the people start international transfers really rarely, few times a year). People won't choose a bank depending on the usage of the blockchain for international transfers, because this is not their main interest. It's only companies (export-import companies) who can benefit from switching to blockchain, but really big companies has discounted fees at banks, so it's only the time that can be the real benefit for them (nowdays international transfer takes 2-3 days, with blockchain, it could be some hours, but in this case all the banks should use the same blockchain system)

Ravion
Member
**
Offline Offline

Activity: 80


View Profile
March 02, 2017, 08:48:39 PM
 #66

There's an article about this in the Financial Times called, "Big banks plan to coin new digital currency". I had written about this in another post. Currently, four large banks are working on building their own digital currency, and the technology they're planning to use is built on Bitcoin. Here's a link to the article: https://www.ft.com/content/1a962c16-6952-11e6-ae5b-a7cc5dd5a28c

Sometimes a subscription page is shown when you click on the link, You can find the article by doing a Google search for it.


NoiseBoy
Full Member
***
Offline Offline

Activity: 238


Decentralized Smart Community Network


View Profile
March 02, 2017, 11:45:09 PM
 #67

Ask rather, "Why would banks use accounting."

The way I describe to non-technical people is, "It's accounting 2.0."

Traditional two-entry accounting can span thousands of ledgers for sufficiently large corporations. A blockchain is a single, distributed ledger, an immutable record, fully auditable, and best of all, math!

shinratensei_
Hero Member
*****
Offline Offline

Activity: 784



View Profile
March 03, 2017, 01:37:55 AM
 #68

The way I describe to non-technical people is, "It's accounting 2.0."

Traditional two-entry accounting can span thousands of ledgers for sufficiently large corporations. A blockchain is a single, distributed ledger, an immutable record, fully auditable, and best of all, math!
This is the best answer, the blockchain can make the companies run in automation on his beneficial structure.
With accounting 2.0 with fully automation and they can save a lot of bucks.
That's why the entethalliance has made.

██
█║█
║║║
║║║
█║█
██
'BTC MULTI-WALLET SOON'
▬▬▬▬ Download WHITEPAPER ▬▬▬▬

                    ▄██▄
                  ▄██████▄
                ▄██████████
              ▄██████████▀   ▄▄
            ▄██████████▀   ▄████▄
          ▄██████████▀    ████████▄
         ██████████▀      ▀████████
         ▀███████▀   ▄███▄  ▀████▀   ▄█▄
    ▄███▄  ▀███▀   ▄███████▄  ▀▀   ▄█████▄
  ▄███████▄      ▄██████████     ▄█████████
  █████████    ▄██████████▀    ▄██████████▀
   ▀█████▀   ▄██████████▀    ▄██████████▀
     ▀▀▀   ▄██████████▀    ▄██████████▀
          ██████████▀    ▄██████████▀
          ▀███████▀      █████████▀
            ▀███▀   ▄██▄  ▀█████▀
                  ▄██████▄  ▀▀▀
                  █████████
                   ▀█████▀
                     ▀▀▀
e i d o o
██

███▀▀
▐▐▌
▐▌
▐▌
▐▐▌
███▄▄
▀▀███
▐▌▌
▐▌
▐▌
▐▌▌
▄▄███
Pages: « 1 2 3 [4]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!