Banks adopting Blockchain dramatically faster than expected

[Boxxl]

Banks adopting Blockchain dramatically faster than expected
https://www.reuters.com/article/us-tech-blockchain-ibm/banks-adopting-blockchain-dramatically-faster-than-expected-ibm-idUSKCN11Y28D

I bet they using Ripple 

[Ebenezar64]

I guess this is one of the reasons XRP has been running so good lately. But as far as I know not that many banks are using the XRP token but thaty are basing their system on the Ripple technology. Then I think they are developing their on token. Or that is the impression I have gotten anyway.

Either way, banking is a huge market for the BlockChain technology so I don't see XRP going down any time soon.

[BitcoinGuruOne]

As I understand banks are not using Ripple network but the same tech behind it.
Also comapnies that actually are doing something with this tech ( as far as i know):

1) SEB bank 180million worth of transactions last year
2) Amex transAtlantic transactions ( dont know if they are live)
3) South Korea- Japan  test project

[penig]

Blockchain can be anything, it doesn't need to be an established public coin.  The future for blockchain adoption in banking would be a syndicate of banks operating a PoS system between themselves. From the article, emphasis added:

Blockchain, which originates from digital currency bitcoin, works as an electronic transaction-processing and record-keeping system that allows all parties to track information through a secure network, with no need for third-party verification.

No need to trust a counter-party that they have the assets or balance at hand, its right there on the blockchain in real-time. Thats a gift to the banking industry that currently only know whats on thier balance sheets, and can never be certain about others.  

[cynical]

it was only a matter of time before this took place.
blockchain technology is definitely going to get widely used worldwide for all kinds of tech applications.
however the blockchain technology that will be created and implemented will be everything Bitcoin is not,
they will be regulated, controlled and centralised...like ripple.
I mentioned in another thread that some banks may very well be using ripple but going forward they will be creating their own!

[Ailmand]

I guess this is one of the reasons XRP has been running so good lately. But as far as I know not that many banks are using the XRP token but thaty are basing their system on the Ripple technology. Then I think they are developing their on token. Or that is the impression I have gotten anyway.

Either way, banking is a huge market for the BlockChain technology so I don't see XRP going down any time soon.

Maybe that's one contributor for them to accept it. However, I would say that it has been a long time coming. Entities, like banks, are always alert in any investment probability they can assert themselves into because that's basically how a bank would make revenue. It would be easier for them to gain profit if they would invest in something booming. Cryptocurrency has been there for years; however, many banks are choosing not to invest on it just yet because of the fact that it is not like any currencies around. I think many banks right now are starting to try their hand into the cryptocurrency market because they have already proved its legitimacy despite being somewhat new and different.

[Tankdestroyer]

Banks adopting Blockchain dramatically faster than expected
https://www.reuters.com/article/us-tech-blockchain-ibm/banks-adopting-blockchain-dramatically-faster-than-expected-ibm-idUSKCN11Y28D

I bet they using Ripple 

They are definitely using the same tech as with Ripple but not the coin itself after all they can just hire someone to make a cryptocurrency for them to use at their own convenience. Considering that the things required to create one's own crypto is open source, it is very likely for banks to use only the capabilities of blockchain tech and not ripple or crypto itself.

[Quickfant]

Good thing. Blockchain encourages transparency without giving away too much personal information which I think can benefit banks aswell as their customers.

[Tony116]

Banks have a lot of money and they are smart enough to see the potential of the blockchain and the threat of developing crypto market. Of course they will do all they can to get the leadership here. But to be honest I don't like Ripple due to its high and overheated capitalization.

[kryptqnick]

.....
I bet they using Ripple 

It is said in the article that 15% of global banks already adopted blockchain, but it is generally about accepting bitcoin, not ripple... That's ironic, since bitcoin is against such things and has its own problems, whereas ripple is perfectly suitable. Maybe ripple's going up on the news about banks regardless to what they actually accept. Yet surely there are other news related specifically to ripple with Korean and Japanese banks accepting this coin. I am still thinking is ripple is now at a good price to buy it..

[ajmapalo22]

Banks really need to adopt block chain technology because this is were the future is heading to and if they will go with the current flow of the economy chances are they might be replace and gone in the circulation. Well I have to agree these banks might be using the platform same as Ripple. This is really the reason why Ripple was able to beat ethereum and continue to pump

[BitcoinHodler]

I bet they using Ripple 

no they are not using Ripple, they have created Ripple as an experiment and also to make a lot of money by premining and controlling 100% of its supply and network.

what they are doing now is creating their own internal blockchain based system to increase their security and speed and efficiency.

[pey]

There is a huge benefit in adopting blockchain technologies for banks. I think ripple may be the most valuable blockchain company because market cap is different thing, it is more valuable as a company.

[cherryscarlett]

The bank not sure if I'm going to use XRP, but I know that all the Banks are starting to study the blockchain, which is a good sign.

[nl247]

Banks have a lot of money and they are smart enough to see the potential of the blockchain and the threat of developing crypto market. Of course they will do all they can to get the leadership here. But to be honest I don't like Ripple due to its high and overheated capitalization.

Apparently, they are smart to know that this is a technology that has come to stay with a lot of benefits. However, I am not in a position to judge but I am sure it would end up as any other fiat at the end of the day since it is going to be centralized anyway. I also do not like ripple and I do not see any reason why I should ever like it no matter how the value is driven up as that itself can even be manipulated.

[Boxxl]

I hear many people say they don’t use xrp.
But for every transaction you need XRP!
So every bank needs a small amount of xrp

[Siopao]

With the technology that we have right now, surely cryptocurrency will be a big demand years from now. And banks should go with the fast phasing technology in order to maintain their clients, they should really integrate cryptocurrency with their banking transaction. And this news is a good first step for banks, hope that some other banks in other countries would also consider integrating bitcoin transactions.

[johnnywoo2015]

Banks adopting Blockchain dramatically faster than expected
https://www.reuters.com/article/us-tech-blockchain-ibm/banks-adopting-blockchain-dramatically-faster-than-expected-ibm-idUSKCN11Y28D

I bet they using Ripple 

Yes, most of them are using Ripple.

Don't fool yourself that they are entering into cryptos or are doing it for you. They are doing it with the sole purpose to increase profits. Because blockhain bases inter-bank transfer are x100 cheaper and faster than current systems.

[max6575]

blockchain administrative system might helps with the customs of segwit as public has with the chance of moderation,
as might to gives of reference on how the work of the financial system to turns with the distinct on consequence as completing tasks with the dislodgment of funds.

but those absolutely different with one as the displacement or attachment of funds within the less moderated archipelago like yobit or else from/not in new zealand

to gives with value on appropriatives.

[oviudiu]

Banks adopting Blockchain dramatically faster than expected
https://www.reuters.com/article/us-tech-blockchain-ibm/banks-adopting-blockchain-dramatically-faster-than-expected-ibm-idUSKCN11Y28D

I bet they using Ripple 

That would perfectly explain why Ripple went up so much and not only Ripple, the other altcoins as well. I thought I would get a good opportunity to buy in february, guess I was wrong...