Why Banks on blockchain?

[satosibtc1000]

Technologies are developing and improving. Blockchain can deprive people of work in the Bank, for example, the profession of an accountant will be replaced and fully function on the blockchain !

[minairia3]

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?

because they are clinging on to their mere existence. if they don't do this they will be obliterated in just that but that won't happen in overnight as there are many financial capital markets and derivatives are being run by banks and financial institutions.

[Pan Troglodytes]

Banks want to be on blockchain to be able to sell the buzzword to its clients. I am of the opinion that blockchain without the value token is just a database, and in reality this is what the banks are using.

[syntac]

because in addition to lower costs, attractive features and transaction processing are easier and more effective. and I am sure, in the future all banks in the world will work together with the blockchain. and all people are expected to be able to apply it in everyday life. that is the development of banking in the future, in time all of them will be left behind in the competition with blockchain.

[passeroutpass]

First of all, the transition of banks to the blockchain will be beneficial to the users of the banks, because everything will be open to their eyes. The costs for employees will also be lower, but the only one minus for them is that they will not be able to steal money as before.

[Sawadekub]

The whole point of traditional banking systems was to safely store and transfer valuables. This system has been built for centuries.
Now there is a blockchain that can store and transfer valuables securely and without the use of banks. Banks need to keep up with the times.
So with the help of blockchain technology, banks can improve their efficiency and reduce risks. In general, the blockchain reduces the risks of working with unknown counterparties, increases the liquidity of funds and unites people around the world.
I think it would be great if banks soon begin to use the blockchain technology everywhere.

[supernva]

I believe that banks have no choice. They should adopt blockchain or die.
I don't usually like McAfee, but in this interview he's saying right things: https://www.youtube.com/watch?v=mrHPyiKpkXU

[thankyoulord]

the truth is having analyzed it carefully, the banks came to realize blockchain is the future and since it still at the early stage, it would be to their best interest to adopt its use so when blockchain covers the whole earth they would be in a good position to operate with blockchain

[cfif123]

Banks want to be on blockchain to be able to sell the buzzword to its clients. I am of the opinion that blockchain without the value token is just a database, and in reality this is what the banks are using.

absolutely right and the bank also uses the blockchain system as an easy out-of-door or everyone's transaction controller, because the blockchain system is transparent and can be seen by many people too

[teejayrichard2]

no doubt banks have come to realize the world financial place is shift from centralization to decentralization and they need to act fast to join the moving train. I am really not surprised because i expected this

[maianh09]

You may find that the use of deposits at banks to convert unlawful funds becomes very legal. The application of Blockchain helps transparency in transactions and can quickly check the source of the trade and control it easily.

[gamechangers]

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?

Blockchain technology is of no doubt going to take the world with time because of its speed and simplicity. It is super -fast and dynamic, why won't any commercial bank want an exercise that is seamless inorder to serve customers better.

[Yara1]

I think the only reason if that will ever happen at all is that the bank will discover that the blockchain is the new era of banking and on the total digital manner which does not have any restrictions and third party involvement, but we have always seen the bank operating on an opposite dimension which is why I say, if it will ever happen.

[AimHigh]

Many of banks entire world that adopting blockchain including bitcoin for them to expand and embrace the updating new technology or else they well bankrupt or lose their business because as we can see people was aware on blockchain and they also adopt and embrace it just like bitcoin or other altcoin so that some of banks including here in my country that they need to explore and adopt it for them to expand their business regarding blockchain.

[leetcoiner]

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?

Banks are joining the blockchain because if they do not do it very quickly now, their business may die in the next couple of years. Those banks that implement blockchain now provide themselves with a huge leap forward in the next 2-3 years. Banks will remain Fiat institutions, but transparency should be clean. And not only in private banks, but also in goverment ones.

[kotajikikox]

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?

Obvious rural banks try to adopt the opportunity of blockchain, Banks can seen the potential of blockchain how they can help them for the fast transfer of each transactions using this new system of technology.

[Futureglory]

what is good and bettere and well proven by all is usually accepted by all and it is very obvious from what blockchain is capable of and is doing. And am not surprise to see banks on blockchain. Blockchain is taking over the world gradually.

[Menawi12]

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?

Banks want to adopt blockchain technology because blockchain can secure their data and saving a lot cost. With blockchain, banks can make their service more faster and its important for banks to secure their data service

[ameliana]

because blockchain is more secure than banking ledger and it will easy for transaction and it will chargeless.

Besides being safer, Blockchain is also more practical and also more transparent about transactions. as you say that using Blockchain can also save transaction costs, therefore the Bank will be very good if using the Blockchain because the Blockchain has many features that will make the Bank better than before.

[wow.magic]

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?

Every business needs to innovate to keep themselves in place in the market. Since block chain is now making its name in the world economy, banks need to adapt the demand by joining the competition. Also, block chain would improve their services since most local banks in our area still using older systems. They really need to upgrade since our current market has changed. Hopefully, this will reflect good to the block chain.