Banks will use blockchain

[casdder]

Blockchain will significantly reduce and reduce the banking costs; will effectively improve the bank's business processing efficiency; help banks strengthen supply chain finance management; help to dilute and reduce the bank's regulatory difficulty.

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[denzkilim]

https://www.ft.com/content/7dc8738c-a922-11e7-93c5-648314d2c72c

Banks are now team up to use blockchain. What is your thought on this guys?
It could affect the cryptocurrency or not?

Blockchains will probably be used in various industries because of the benefits of this technology. However, this doesn’t mean they will use Bitcoin or any other decentralized blockchains. They will most likely make their own centralized blockchains. I don’t really think this will affect Bitcoin because Bitcoin still has the advantage of being decentralized.

Correct, they are not into "Decentralization" but they're up to "Centralization" We all know that the blockchain technology is very useful in many other ways not just for crypto currencies and digital asset trading. I don't think that this kind of act will affect crypto currencies price in the market except if the banks will use the decentralized cryptos(but I don't think they'll use it).  

[Singbatak]

I think the bank adopted the block chain because as a business. But it will affect the growth of prices for crypto currency. But at least in the bank it can be fast and secure. It is better and safe. It will be set well and they get greater benefit for any bank.

[douhancan58]

Block chain technology applied in the bank's core business system of domestic Banks, Banks in asset custody business scenario, using blocks of the intermediate links of chain technology to achieve the reduction, lower transaction costs and raising the level of risk management.

[onpages]

https://www.ft.com/content/7dc8738c-a922-11e7-93c5-648314d2c72c

Banks are now team up to use blockchain. What is your thought on this guys?
It could affect the cryptocurrency or not?

I think, this will be something that can support the world of cryptocurrency is acceptable in many countries.
because this digital currency needs such a thing for the application of this technology (the use of digital currency for transaction processing) can be more quickly realized.

[Cosbycoin]

Some banks will adopt block chain as a business tool just as they moved to computers from paper based ledgers, some will move faster than others. However they will all need at some point agree a global standard platform to enable bank to bank transactions.

Accepting blockchain or implementing it into the system has somehow nothing to do banking business. I mean it is just a technology which everyone should accept and implement.

In simple words, blockchain is just a list of records that grows continuously making blocks which are then linked and secured. If someone wants to secure his system using cryptography, this technology was introduced for him.

[nightfury]

While it is being said that bitcoin and cryptocurrencies can hurts banks, it is a very nice idea that some banks are now arms-wide-open to embrace the blockchain technology. Consider also those banks who backed Ripple (XRP) that even once took Ethereum's place next to bitcoin.

[szpalata]

I think the bank adopted the block chain because as a business. But it will affect the growth of prices for crypto currency. But at least in the bank it can be fast and secure. It is better and safe. It will be set well and they get greater benefit for any bank.

It will be great if the banks adopt the blockchain technology as many in the united kingdom have started looking at how best they could integrate this technology into their system even though it isn't going to be easy i think when it becomes fully operational will be able to broadcast whatever transaction in a public ledger which will help track every transaction and therefore prevent money laundering and double spending to some extent.

[ss890]

https://www.ft.com/content/7dc8738c-a922-11e7-93c5-648314d2c72c

Banks are now team up to use blockchain. What is your thought on this guys?
It could affect the cryptocurrency or not?

Your link is not taking me to the destination that you are supposed to take us! You might wanna check it again. There is no article present over there to read.

Banks are now team up to use blockchain. What is your thought on this guys?
It could affect the cryptocurrency or not?

I don't see that banks are teaming up anywhere in the world to use blockchain. The day when this news publishes its going to be the best day for bitcoin. Im sure it will get pumped more than triple of the current price and market cap eventually. This is because everyone will want to be on the Wishlist of banking where they will want to have most of the bitcoin asset to use within their bank.

Plus it could lead to the partial centralisation of the blockchain as they will need to hold the keys for it as banks will take the job very seriously. Its going to bed mixed one.

[havok1998]

it will affect crypto currency but in a good way. new laws and regulations shall come into play. blockchain technology will be used in a centralized way rather than decentralized way. cryptocurrency like ripple and others based on its technology will come into use. thus its better investing in cryptos that are centralized and controlled by banks so that its safe side when governments decide to regulate cryptocurrencies in countries! GL mate

[Arwinkim]

Banks need to adapt blockchain to expand their business. It's because they believe blockchain technology will take over some financial sectors in the future. Bank and blockchain will make finance world stronger and easier to use.

[Beehives]

Some banks will adopt block chain as a business tool just as they moved to computers from paper based ledgers, some will move faster than others. However they will all need at some point agree a global standard platform to enable bank to bank transactions.

I agree with you buddy. If not all banks will agree on it then implementation of blockchain for banks would be far fetch. But good thing is they already recognizing the blockchain which could be better for the current system.

[ICOTREND]

Blockchain technology is applied in the inter-bank payment system will help transfer transaction quickly and instantly without any intermediaries. Some coins with blockchain technology is also used in banking payment systems, such as Ripple. That is the reason, definately it makes the value of virtual currency, especially the price of Ripple in next time.

[farhaan]

Banks consider bitcoin to be their rival but they are ready to adopt blockchain in which bitcoins works.Not only banks,even most of the government sectors have decided to use the blockchain technology.

All the banks universally have the same stand about blockchain irrespective of country where it exists.It would help banks to consume time much efficiently helping them to provide better service.

It would just have a positive impact on bitcoin as it also functions only in blockchain technology.

[Beehives]

Blockchain technology is applied in the inter-bank payment system will help transfer transaction quickly and instantly without any intermediaries. Some coins with blockchain technology is also used in banking payment systems, such as Ripple. That is the reason, definately it makes the value of virtual currency, especially the price of Ripple in next time.

That's good idea buddy. It that would the case ripple will the the hot cake in the near future. Investors/traders will swarm ripple then.

[Tambu]

Banks perhaps realize the usefulness of Blockchain in their system. In payment using blockchain is more safer than other system.

[Iceblast]

banks use blockhain it does not happen a problem and can provide convenience. but I feel if there are still pros and cons when the bank uses a blockchain system because every country can not legalize cryptocurrency so if it is determined that all banks around the world using blockchain will be very difficult and can not maximize.

[fiomcorka]

I think the bank adopted the block chain because as a business. But it will affect the growth of prices for crypto currency. But at least in the bank it can be fast and secure. It is better and safe. It will be set well and they get greater benefit for any bank.

Banks are in danger now, they think. While in reality yes there are some options that are not in favor of banks but still these crypto currencies will not be harming banks in coming years. Like now, bitcoins are popular in technical population of the world or student body but not every person knows it. There are not good gestures for bitcoins in local community, so banks don’t need to worry in upcoming years.

[TeraBitHoven]

It will make bank accounts and transactions safer and secured. I think it will cause ripple to grow and much more utilize for bank payment systems, which will then, attracts more investors and traders. Blockchain technology will be recognize.

[Turkish88]

Blockchans have problem with scalability, banks operate with huge operations per second. If this problems will be solved bans can use blokchain, i dont seen reason to switch from centralized system, it better for banks