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Author Topic: Why Banks on blockchain?  (Read 24855 times)
mmo_online_1981
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September 10, 2018, 03:17:47 PM
 #61

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!
Make sure you back up your wallet regularly! Unlike a bank account, nobody can help you if you lose access to your BTC.
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crptotrader007
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September 10, 2018, 06:32:05 PM
 #62

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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September 10, 2018, 07:04:26 PM
 #63

Blockchain makes the transaction more secure and profitable as it is very convenient to store data about customers.


In my opinion Blockchain has many advantages over the big books that banks use because bitcoin is decentralized and its records are not changed and not with the control of certain people. That's why banks realize that blockchain is a way to advance that they lock in better for it and their jobs.
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September 10, 2018, 08:06:46 PM
 #64

Blockchain is another universe in this situation If you often read news it seems everyone tries to move on Blockchain technology now almost one company from any service tries to test Blockchain it's like beta test if it will succeed and will be better then we will see Central banks are actively testing Blockchain technology for a variety of different use cases everything from new central bank digital currencies new payment systems, to records management having some kind of audit trail for certain functions and so on. Incorporating Blockchains central banks are taking advantages of this technology movement.
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September 10, 2018, 08:23:45 PM
 #65

The same reason anyone else would need blockchain; low cost and swift financial transactions. Banks create agreements with other banks and institutions. Say, one bank wants to purchase stocks from the other. The conventional process takes days. The time it takes for the whole process is called settlement.

Blockchain reduces, if not eliminates, the time for settlement due to its digital nature. In other departments such as global currency exchange, using blockchain can provide better transaction security and decrease the time of the exchange.
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September 10, 2018, 08:55:36 PM
 #66

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?
Of course, the introduction of blockchein technology in banks greatly enhances their effectiveness. If before that, transactions with the outdated SWIFT method took from several hours to several banking days, now, from the use of a ripple coin, transactions to any point of the globe hires just a few seconds.

amaterasysky
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September 11, 2018, 11:40:19 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?
Of course, the introduction of blockchein technology in banks greatly enhances their effectiveness. If before that, transactions with the outdated SWIFT method took from several hours to several banking days, now, from the use of a ripple coin, transactions to any point of the globe hires just a few seconds.

Please explain to me why the blockchain will help banks? After all, in fact, the blockchain is a common database, which is in the public domain and it is not changeable. What's cute? Speed and everything else. It will take decades to adequately implement all this in the banking system. This is if we talk about the technology itself.
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September 11, 2018, 11:46:49 AM
 #68

The actual banking institutions along with other establishments noticed the actual success associated with blockchain. These people desired to adjust this in order that it can make their own dealings quicker as well as less expensive. In addition to that, it really is really simple to use. Blockchain includes a excellent possible later on.
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September 11, 2018, 02:12:28 PM
 #69

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 dont think there are any reason for bank to join in blockchain for now.
Unless the cryptocurrency used globally in the world, there won't be any reason for bank to join i guess.
Cryptocurrency need more public awareness so the peoples will mass adopting the blockchain.

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Irfansyed
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September 12, 2018, 03:34:03 AM
 #70

Blockchain has the potential to transform business models, to connect counterparties in a new way and to achieve a considerable increase in efficiency. Transactions based on CryptoFinance are handled directly between payer and recipients, which changes the role of intermediaries.
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October 25, 2018, 07:10:56 AM
 #71

The World Bank is another financial institution that is in the process of exploring the advantages that blockchain technology can bring to their specific needs. They are looking at blockchain as a potential means of building and restore confidence in financial institutions. The World Bank is launching a 'blockchain lab' in an effort to pilot projects that can improve governance and social issues. the developing countries.
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October 25, 2018, 07:16:30 AM
 #72

Blockchain is the technology platform for many applications in the financial and banking fields such as securities, payment, trade finance, identifying electronic customers. A look at the Fourth Industrial Revolution with the ability to fundamentally change the banking and financial services industry in the coming years.
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November 03, 2018, 10:35:58 AM
 #73

We always have to be smart in our daily doings and always should be a part of the good team. That is why with blockchain we say, we are safe and it will not be surprise to see an organization building such a platform.
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November 04, 2018, 02:00:07 AM
 #74

Blockchain is another universe in this situation If you often read news it seems everyone tries to move on Blockchain technology now almost one company from any service tries to test Blockchain it's like beta test if it will succeed and will be better then we will see Central banks are actively testing Blockchain technology for a variety of different use cases everything from new central bank digital currencies new payment systems, to records management having some kind of audit trail for certain functions and so on. Incorporating Blockchains central banks are taking advantages of this technology movement.
Blockchain is a system that covers the workings used by bitcoin, which is more efficient, safer and faster. It turns out that blockchain technology can be applied in various business fields, such as banks, agriculture, trade. The central bank, which has been the center of the server, finally has to be willing to share with the scattered server which functions as a back up of data, so that it cannot be hacked and manipulated.
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November 12, 2018, 12:44:58 PM
 #75

The actual banking institutions along with other establishments noticed the actual success associated with blockchain. These people desired to adjust this in order that it can make their own dealings quicker as well as less expensive. In addition to that, it really is really simple to use. Blockchain includes a excellent possible later on.
The bank is aware that blockchain technology can improve bank services to customers, because it is very efficient and makes transactions easy in banking. The development of the blockchain for banking services ultimately creates competition between banks because  who are inefficient will be customers ignored.
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November 14, 2018, 11:45:25 PM
 #76

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 the reason why banks are not free to adopt cryptocurrency has be discuss here several times. Banks operate in a centralized system why crypto operate in blockchain which is decentralized. Banks never have trust on crypto simply because it does not involved third parties and the transactions are not traceable which mean you have no one to hold responsible for any mistake made by you.
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November 14, 2018, 11:59:34 PM
 #77

The relationship between banks and cryptocurrencies and the blockchain technology has not been cordial of late. Banks have the mindset that crypto activities are not friendly to them. therefore, it will be difficult for the two to coexist under one roof.

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November 15, 2018, 03:32:38 AM
 #78

If banks are able to adopt crypto and bitcoin will definitely be new, many employees will follow the bitcoin flow so it can make the bank a good place to convert with fiat directly.

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November 15, 2018, 04:04:24 AM
 #79

On the one hand, it could potentially save banks billions in cash by dramatically reducing processing costs. Banks are salivating at the opportunity to reduce transaction costs and the amount of paper that they process. Implementing blockchain would make banks increasingly profitable and valuable. Blockchain and distributed ledgers have a bright future.
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November 15, 2018, 07:26:23 AM
 #80

The relationship between banks and cryptocurrencies and the blockchain technology has not been cordial of late. Banks have the mindset that crypto activities are not friendly to them. therefore, it will be difficult for the two to coexist under one roof.
Your opinion is not entirely correct. For the use of bitcoin the bank refused. But the technology used by bitcoin is blockchain, the banks are very supportive even some large banks have used it internally because it can improve efficiency, accuracy and security.
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