CCIORACLE
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August 31, 2018, 08:33:07 AM |
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The world will always follow what is good and is of not surprise to me to see banks on blockchain. Blockchain as a revolutionized platform is really making impact and am sure with time most institions will be on blockchain. Very good move for banks to be on blockchain.
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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nina_duschenko
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August 31, 2018, 12:17:29 PM |
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Blockchain technology provides a high level of safety in storing and transmitting data, open and transparent network infrastructure, decentralization and low cost of operations. These impressive characteristics make blockchain a really promising and in-demand solution, even in the extremely conservative and restricted bank industry.
Most credit and financial institutions cannot carry out their work without a number of mediators, while their participation make the services of these institutions much more expensive. The implementation of blockchain will enable unnecessary mediators to be abandoned and provide customers and banks with cheaper services. Source: https://medium.com/universablockchain/blockchain-is-reshaping-the-banking-sector-fd84f2f9c475
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prikitiw
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August 31, 2018, 12:47:15 PM |
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Blockchain is the latest technological innovation in financial markets, why banks need to adapt to blockchain is because transaction blockchain technology will be fast, safe, cheap and transparent. while the bank currently takes 3-4 days to transfer money from one country to another and the costs are quite high, the transaction is also not transparent.
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Rustandy
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August 31, 2018, 01:09:41 PM |
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Blockchain has the potential to substantially change the way various financial services are run. The Bank can significantly utilize the development and implementation of blockchain technology in terms of increasing efficiency, cost savings and risk reduction.
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Abal Abal
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August 31, 2018, 01:17:08 PM |
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I see the bank does not want its role to be replaced by bitcoin. when banks have implemented the blockchain technology they will arrange in such a way that they remain on top. and in my opinion this is done for their "bank" not good for the people or bank users. |
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tungaqhd
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August 31, 2018, 01:35:22 PM |
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Because blockchain technology has many advantages, it help us save users data securely, make transaction become faster, connect more people. I saw many banks using it. |
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Voidcrafter
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September 04, 2018, 10:27:15 PM |
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Bitcoin has brought us not only the opportunity to earn on increasing its rate, but also brought us the blockchain technology. Blockchain in 2018, trying to implement wherever possible. Therefore, it is not surprising that banks are beginning to introduce blockchain technology in their work. This is the evolution of the banking system. |
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AimHigh
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September 04, 2018, 10:39:11 PM |
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Because banks embracing the new technology for the future of updating the new currency. Before we are thinking that banks will be remove by blockchain or the cryptocurrency so that banks thinking if they adopt their business will be lose or bankrupt, this is my own opinion. Bitcoin has a big influence to the people in terms of trading and earning so that is why banks thinking what be a better solution to be part of new technology.
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xWolfx
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Donating 10% to charity
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September 05, 2018, 12:00:06 AM |
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Because Blockchain is a more transparent and secure way of transmitting information, not only for banks but for everything.
It can literally be used for everything like regular internet is used and with the right security measurements and the transparency of the network and safety in making sure to confirm every block, could be a lot safer than the internet which wasn't made with security in mind precisely.
The new president of Colombia Ivan Duque said that they were going to use Blockchain inside his government, that tells you how close it's application is in all ways of human society that requires transferring data through virtual means of communication.
The possibilities of it are endless, however it still need more improvements - Especially for handling huge amount of data.
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joshuarose
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September 05, 2018, 01:37:19 AM |
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It seems like a lot has been discussed but this is quite interesting, banks use blockchain because the system of blockchain is very good and also banks are not want left behind when the blockchain trend is in the future, but I am sad now that the cryptocurrency team and banks are still hostile
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cryptogideon19
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September 05, 2018, 08:10:29 AM |
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first if they joined on blockchain they will have more gains and more profit. HOW? They will not using there own money but using the money of people that they invest on their bank. In our country if you have money on their bank the profit after a year is just low profit but the bank will make profit from it to gain more on blockchain.
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Btcvilla
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September 05, 2018, 08:14:18 AM |
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I think you can read it from the news, there is always a notification why banks are interested in the blockchain system. one of them is transparency in terms of transactions and speed without third parties. you should read it from various references so that you really understand. |
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yitzjoe
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September 05, 2018, 08:36:55 AM |
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In its daily business, the bank tries to record all transaction activities in ledger, this manual note will increase more and more as it develops and can be lost, damaged or burned and when that happens it will destroy all the national data. Blockchain offers convenience with this legder transparency, where all parties view and validate the correctness of their data, so there is no data fraud and theft
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1NV3ST0NM3
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September 06, 2018, 07:27:23 AM |
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Yes, blockchain can be helpful for the banks in many ways: 1. The investment banks spend a huge amount on settlement and clearing jobs which can be saved with blockchain technology. 2. By shifting their payments system on blockchain technology banks can reduce the cost involved in processing them by eliminating middlemen. This would offer high security too. 3. With blockchain technology banks can access the individual verification of other organization’s clients, which can save the amount spend on fulfilling KYC norms. |
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javadsalehi
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September 06, 2018, 02:27:36 PM |
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I think because they're the first one to lose business when blockchain and cryptocurrencies dominates. Another point is, the blockchain is unhackable and cannot be counterfeited.
They will be still losers. Even if banks use blockchain technology , that will differ from the technology which is used for bitcoin. Banks don't want a anonymous system which can not be controlled. |
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Fafabol
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September 06, 2018, 02:37:30 PM |
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banks may used blockchain as their data based platforms to have their datas more organize yet secured for their client.Blockchain may also be involved in mobile banking that enable a client and user to have online banking transactions more convienient.Thus upon using blockhain as part of their data based platform,banks should be put some restrictions yet making their banking a more transparent and user-friendly for every bank clients.
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LOVEUMUM
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September 08, 2018, 11:25:12 AM |
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I see this not just about banks alone but with blockchain been well truste technology beyond doubt any organisaton will never risk the chance but build on blockchain for the best. This is a good move for banks.
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Dudeperfect
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September 08, 2018, 01:28:17 PM |
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As we all know that decentralization has the power to boost the process with maximum security as compared to that of traditional infrastructure. No surprise that even the banking institutions are interested in blockchain technology. Adopting blockchain would improve their processing capacity but even in that case they won't share the control with others and hence it will be the internal tool for them to optimise their services.
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annaso
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September 10, 2018, 02:48:23 PM |
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In my view, Blockchain technology can change the banking system and make it far more efficient by making transactions faster, safer, and cheaper. Thanks to bitcoin which was first successful implementation of blockchain.
Also, Banks will be able to avoid any fraudulent transactions and secure the system.
Transactions will not be completed with just the knowledge of one person, the whole organization will know about it.
Other uses for bank-backed blockchain projects would include secured global currency exchange rate speeds and increased transaction security, among other benefits, eventually allowing for an overhaul of the banking industry, replacing traditional back-office clearinghouses and other outdated mediums that exist between asset sellers and buyers.
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krauzzer02
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September 10, 2018, 03:08:34 PM |
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Most of the banks are not on the same page of their actions, some of them hated crypto but liked the idea of blockchain technology and some of them hated the both of them close-minded to these technologies that can possibly shape the future of banking and most of the industries that we've known it would be a great deal if they are going to innovate and adopt it, some of them will fail to understand it but later they will realize.
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