[2019-03-10]Blockchain technology in the banking world

[ppblockchain]

In 2016 the European Central Bank (ECB) discussed the use of digitisation and new technologies and how such may affect the banking systems of tomorrow. The ECB reflected on the utilisation of Distributed Ledger Technologies (DLT), their potential impact in improving credit institutions internal efficiencies, the possibility of a critical core of market players making use of such technology leading to the shift in the modus operandi of a large market segment, and the revolutionary scenario of a peer-to-peer world without intermediaries.

The peer-to-peer reality is much stronger outside the European territories. China, for example, has been making use of peer-to-peer lending through WeChat for a number of years although a slow down has been recorded due to liquidity or insolvency matters.

https://paperblockchain.com/blockchain-technology-in-the-banking-world/

[Kakmakr]

..." We have witnessed how R3 and its consortium members have successfully developed a proof-of-concept application for KYC in order to address challenges associated with regulatory requirements while allowing the user to manage their own identities."

Is this Mike Hearn and his R3 buddies making preparation for Corda?    The Banking industry are gearing themselves with Distributed Ledger Technologies (DLT), to avoid disruption of the Banking industry from Crypto currencies like Bitcoin. <They are not sitting around, waiting for Crypto currencies to disrupt them.>

Expect to see a lot more DLTs in the future.