Why Banks on blockchain?

[akram143]

I think there will be no financial institution like the central bank to adopt blockchain technology because they have a political element that depends on the policies of each country. But the most likely is that banks will cooperate with blockchain-based institutions or companies to facilitate more accurate digital recording.

Still any banks will ready to accept the blockchain system to be engaged with their current bank system it will leads to a lot of changes in all over the world so accepting will be the most important thing also in now for the better development also so you can wait for some more time.

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[izzy13]

The answer upon the question "Why should do banking on Blockchain" is already hugely discussed. I am more interested on the question "How to make cross-platform transactions easily while still ensuring the privacy and security".

[MeongElek]

I think the Bank must accept cryptocurrency and use the blockchain system in the banking world. So many benefits from implementing the blockchain system, not only the benefits in the data security sector, the blockchain system will make it easier for them to make transactions.

[drachman]

The answer upon the question "Why should do banking on Blockchain" is already hugely discussed. I am more interested on the question "How to make cross-platform transactions easily while still ensuring the privacy and security".

They do not want that, they want you to only use their systems so they can have complete control over your money and your life, so while I can see why people want that since it will be convenient for them, banks do not want that and we should not expect a huge leap forward, so we need to keep pushing for the direct adoption of bitcoin and not worry too much about what banks do.

[Triwiyono]

I think the bank already knows what benefits they get if they adopt the blockchain on their system, like being able to see transactions that are transparent and make it easier for users to transact. and in my opinion it will also make it easier for the users of the bank.

[PlusOne88]

I think banks saw the possibilities of blockchain being used worldwide in the future. Not only because everything can be interconnected easily and transactions will be done very fast. It will also help banks create a bigger scope and almost a borderless list of possible clients. Banks using blockchain if not affected by laws in each country could extend without limit which means more income can be gathered or generated.

[earlyfacer]

Whether you like it or not, the majority of people living in this world is supporting the digital money and the fact that some people are butthurt because of it makes them look like a person with low mentality and understanding, how can you stop such great innovation? besides, aren't you tired of having a centralized society? if things go wrong, blockchain will be the only the answer to everything and there's nothing you can do about it.

[posi]

I think there will be no financial institution like the central bank to adopt blockchain technology because they have a political element that depends on the policies of each country. But the most likely is that banks will cooperate with blockchain-based institutions or companies to facilitate more accurate digital recording.

You definitely make senses with your statement because what the governments and the banking setting did towards crypto currency and blockchain base network which was the same reason for the misconception happening in India this days. But, things is gradually changing cause the banks and governments are supporting some blockchain project which is centralized (Ripple). Besides, the statement made by the IMF boss also make the banks love blockchain.