Blockchain Technology For Banks

[Zoe]

It is true. with advanced blockchain technology, it will make it easier for people in the banking industry. Good technological developments make many people more familiar with it. we must be careful in using it.

[orbit]

Italian Banking Association Completes First Test of Blockchain-Based Interbank System
he Italian Banking Association (ABI) has revealed they successfully passed the initial phase of testing their blockchain-powered interbank system, Italian financial media outlet Ansa reported September 29.

By applying distributed ledger technology (DLT), the group of 14 Italian banks is planning to improve interbanking processes. Specifically, the association intends to boost the processing time of operations, increase the transparency of banking information, and enable the verification and exchange of information directly within the application.

link of news:

https://cointelegraph.com/news/italian-banking-association-completes-first-test-of-blockchain-based-interbank-system

[abc123]

Blockchain technology is the latest innovation in financial market,why banks need to adapt Blockchain is because currently banks take 3-4 days to transfer money from one country to another and charges are quite high, transaction are also not transparent,where as after using Blockchain technology transaction will be fast, secure,cheap and transparent.

[anshor1]

Hello Mate,
Blockchain technology can be applied and integrated into  Banking or Payment System in the world.
So the payment services become faster, easier, cheaper also more open and trackable to the public.


Practical Examples Of How Blockchains Are Used In Banking And The Financial Services Sector :
https://www.forbes.com/sites/bernardmarr/2017/08/10/practical-examples-of-how-blockchains-are-used-in-banking-and-the-financial-services-sector/amp/


The Blockchain In Banking Report: The future of blockchain solutions and technologies :
https://www.businessinsider.com/blockchain-in-banking-2018-5

I think block chain technology for banks is good idea.  because Block chain technology is the future technology.

[Dodo]

Blockchain technology makes it more effective in transactions. This is also a transaction faster than the usual way. This reason makes Blockchain technology potentially increase banks.
I believe Blockchain technology will be adopted on a large scale for all banks in the world in the near future.

[May]

The Blockchain system is very suitable to be applied in banks or other financial institutions. Because the advantages of this system are very good for users, which are faster, easier, cheaper and more open and can be traced to the public rather than having to use a centralized system that is not cost effective.

[tamango]

I'm sure that blockchain can really improve financial payments and security of every transactions. That's why many banks and insurances are trying to build their own blockchain for many services.

[eidoscore]

i read many good news about blockchain technology implementation in banking industry, like Ripple used by banking as payment gateway using ripple protocol for make transaction, faster, safer and cheaper than traditional banking system

[Fenix]

Banks will cease to exist. Everyone can make transactions on their own. Why do you need the third link?

Banks will exist as long as there are states. Banks are directly involved in servicing the country's budget and serve the financial activities of state structures. Therefore, state banks have become in fact part of the state itself. The state will destroy anyone who interferes with the normal operation of banks. In addition, business structures are safer and safer to be serviced in banks than using cryptocurrency, and then do not have any documentary evidence of their financial activities, which are usually issued by banks for submission to the tax authorities and audit.
Banks will continue to use cryptocurrency, but they can do without it.

[Ahmedalab]

Banks have often used blockchain for their own purposes. They do this to reduce the cost of interbank transactions , to reduce fees and speed of transaction processing.

[zendicator]

I think bank will use blockchain soon. Ripple its making its move to partnered with banks around the world and indeed its a great idea to run blockchain on the banks.

[Falcon]

blockchain in the banking world will be very effective and fast in making transactions, blockchain has a faster completion of tasks than the current banking system.
blockchain is a decentralized ledger and this will benefit all parties related to customer and bank data

The implementation of the government to recognized block chain and cryptocurrencies should be done as soon as possible to adopt the system of block chain by banks to make banks more effective and fast business central.

[Malam90]

Blockchain technology is the latest invention and has brought a revolution in the financial sectors. Now the banking associations are thinking to adopt with blockchain technology as blockchain has reduced the transaction time, fees, problems in seding and receiving money, no intermediaries. It is the success of blockchain, so it will be very helpful for the banking sectors.