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Author Topic: Why Banks on blockchain?  (Read 1598 times)
cryptogideon19
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September 05, 2018, 08:10:29 AM
 #61

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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September 05, 2018, 08:14:18 AM
 #62

https://cointelegraph.com/news/singapore-central-bank-partners-with-deloitte-nasdaq-on-blockchain-asset-settlement/amp
http://news.abs-cbn.com/business/05/21/18/unionbank-to-link-rural-banks-using-blockchain
What is the possible reasons why banks adopt of joining blockchain?  Please share your opinions . Is it really  helps rural banks  and small banks to be more productive and efficient? Is it faster and easier in terms of financial transactions to the  mass market and brings down the cost of service?


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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September 05, 2018, 08:36:55 AM
 #63

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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September 05, 2018, 08:59:33 AM
 #64

Peer-to-peer technology used in the Bitcoin network allows you to transfer funds faster and cheaper.
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September 05, 2018, 09:12:37 AM
 #65

Perhaps they finally realized that this scheme is more universal and convenient. Many companies are trying to implement this scheme.
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September 05, 2018, 09:41:09 AM
 #66

The banks are profit oriented, block chain can make them reduce cost,that means no matter how they fight the cryptosystem, they need the technology to for several things..
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September 06, 2018, 07:27:23 AM
 #67

https://cointelegraph.com/news/singapore-central-bank-partners-with-deloitte-nasdaq-on-blockchain-asset-settlement/amp
http://news.abs-cbn.com/business/05/21/18/unionbank-to-link-rural-banks-using-blockchain
What is the possible reasons why banks adopt of joining blockchain?  Please share your opinions . Is it really  helps rural banks  and small banks to be more productive and efficient? Is it faster and easier in terms of financial transactions to the  mass market and brings down the cost of service?
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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September 06, 2018, 08:15:58 AM
 #68

I think the main bank benefit is immutability. Blockchain holds data forever and it is distributed across the network.
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September 06, 2018, 02:24:04 PM
 #69

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. 
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September 06, 2018, 02:27:36 PM
 #70

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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September 06, 2018, 02:37:30 PM
 #71

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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September 08, 2018, 11:25:12 AM
 #72

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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September 08, 2018, 01:28:17 PM
 #73

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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September 08, 2018, 01:52:38 PM
 #74


Blockchain technology has many special applications in the banking industry, the blockchain technology brings many benefits to the management of the bank customers.
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September 08, 2018, 02:03:53 PM
 #75

There is no denying the role of blockchia technology applications to banks and we will enjoy many benefits from the bank through blockchia technology. this reason  Banks on blockchain
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September 10, 2018, 02:48:23 PM
 #76

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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September 10, 2018, 03:08:34 PM
 #77

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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September 10, 2018, 03:17:47 PM
 #78

Blockchain is an advanced technology that, if applied, will be great for the process of creating and validating transactions openly and transparently. Bitcoin can be replaced by better altcoin, but Blockchain technology will thrive in the near future!

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September 10, 2018, 04:32:20 PM
 #79

I think the bank sooner or later all will have to play according to the rules of new technologies. New requirements will force. Or maybe simplify them.
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September 10, 2018, 06:32:05 PM
 #80

As we all know blockchain is a most updated technology in digital world for data storage and transfer.It is much safer than the conventional way of banks for money transfer and data storage.So to keep up with the time, banking are on blockchain.

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