Barclays Bank: They Come For The Blockchain, But Will They Stay For The Bitcoin?

Barclays Bank: They Come For The Blockchain, But Will They Stay For The Bitcoin?

THELOGICALINDIAN - Barclays is activity big on technology The UK annex is activating its Android appliance abutting ages with blow and go payments over its banking arrangement The app will become the aboriginal UK bankNFCenabled touchless arrangement offered to citizens of the arena Since Apple Pay started application the United Kingdom abounding banks accept been acquisitive to jump into the contactless acquittal branch Britain is assuming abundant signs of added acceptance for cashless systems and Barclays wants a allotment of this activity The accounts provider is vesting its activity into a lotof new technology and jumping over abounding competitors Cashless payments and broadcast balance technologies assume to be what this accurate coffer is after

Also Read: Banks Could Be Working on Blockchain-based Digital Vault Project

One move the coffer is eying is financial tech applications and its associated protocol. With their action to advance these account advanced they’ve introduced Barclays Accelerator, a affairs advised to get banking tech startups off the arena floor. And Blockchain technology is one addition the coffer is heavily absorbed in aural it’s accelerator program. Because of this interest, three block alternation startups will be abutting the Accelerator this spring, bringing broadcast balance technology to the Barclay testing grounds. Safello, Atlas Card, and Blocktrace all accept the basal Bitcoin technology alloyed with their casework and they’re application the banks accelerator for their genesis. The technology abaft Bitcoin has the coffer aflame and it shows. The UK coffer now has two Bitcoin “labs” amid in Notting Hill and Old Street London that welcomes bitcoin enthusiasts, coders, startups and blockchain investors. Derek White, the Digital Officer who runs the blockchain administration at Barclays told Business Insider:

safelloBarclays sees that the use and growing acceptance of these agenda age accoutrement are abundantly lucrative, because it’s the banking bazaar bodies want. Cashless trades and cryptocurrency has become actual popular in the British region. As the technology evolves aural the brand of contactless cards and accessories alive with NFC technology, the coffer is active with these applications at a fast pace. Barclaycard and its cousins PayTag and bPay armlet accept had a huge success in the UK. And Barclays has additionally noticed that Bitcoin and its surrounding industry leaders accept been bit-by-bit steadily into the Kingdom. Bitcoin agent and barter giant, Coinbase appear aloof aftermost April that it was accustomed to aggrandize its casework in the UK region. With this agenda gold blitz accident globally, Barclays investors and adventure capitalists from the country are starting to see the broadcast ledger’s accurate potential.

AtlasCardCurrently the Barclay card’s app is for Android users only, and does not abutment Iphones. The aggregation may adjudge to assignment with Apple Pay, Samsung Pay and Google Pay in the future, about the coffer is chief to accomplish its own moves on its own terms. With all these efforts in contactless technology and  heavily vested assay with the blockchain technology, Barclays, UK seems to accept these innovations are actual important. Disruptive technology is affective advanced and has created a blooming new economy. According to the assay account accenture, “London is benefitting from the FinTech boom.” With its innovating moves in the blockchain and contactless acquittal world, Barclays is on the cruise for entrepreneurs who are affiliation technology and accounts into one.

ResizedImage866163-bitcoin-bannerBarclays is dispatch into the angle that banking technology and cryptocurrency is the beachcomber of the future. They are one coffer who’s been dabbling with both Bitcoin accompanying startups and discussing blockchain technology together. Users appetite these banks to booty Bitcoin actively as it’s the longest broadcast balance in the actuality of the agenda age.

Word on the artery is a lot of banks are talking blockchain technology only. Bitcoin enthusiasts accept they are missing the absolute acknowledgment and amount of Bitcoin’s abundant arrangement effect. Cryptocurrency is authoritative advance and Barclays sees its banquet time. However, best ask “banks will appear for the blockchain, but will they break for the Bitcoin?”

What do you anticipate about Barclays and Bitcoin? Let us apperceive in the comments below.

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