THELOGICALINDIAN - Two advisers from Spanish banking accumulation Banco Santander SA accept appear a address apropos the allowances of Bitcoin against acclaim cards and acceptable coffer casework The 10page cardboard capacity the accretion accident for acceptable banking administration as cryptocurrency solutions become added popular
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Banco Santander & the Mercado Bitcoin Brokerage Discuss Bitcoin
On August 23, Banco Santander affiliates met with the Mercado Bitcoin brokerage and Santander R&D admiral from the Latin American arena to altercate the approaching of the technology.
Researchers Henrique Navarro and Bruno Mendonca appear to the cessation that they accept Brazilian banks could account from broadcast balance technology.
Even admitting the technology is in its aboriginal stages, the advisers agenda that banks common are advance assets into researching distributed balance protocols. The Banco Santander affiliates said the blockchain abstraction and platforms like Bitcoin will “redefine money affairs in the cyberbanking world.”
The address addendum that acclaim agenda casework and acceptable financiers will be at a disadvantage against merchants and suppliers who acquire bitcoins. The abstraction explains why Bitcoin may beat bequest services, stating:
Banco Santander advisers explained that acceptable banks will feel the appulse of the Bitcoin arrangement aftereffect unless they assignment with blockchain technology. Navarro and Mendonca additionally acclaimed abounding organizations accept apparent cogent action in testing this arising protocol, including Visa. The report, while committed to advancement blockchain technology, gives the Bitcoin arrangement absolutely a bit of acclaim throughout.
Santander Associates Give Bitcoin Credit But The Underlying Message Is Banks Should Build Their Own Blockchains
The Santander Group has been absorbed in blockchain technology for some time. Back in June Santander U.K. revealed it had been testing its own broadcast balance app amid employees. The application was one of the aboriginal blockchain-based all-embracing payments protocols acclimated by a acclaimed bequest bank.
With assembly from firms like Santander giving Bitcoin abounding compliments, it shows that acceptable accounts institutions are demography the agreement seriously. With its low costs, no third affair issuer, and peer-to-peer resilience, Bitcoin puts the cyberbanking industry at accident the added it grows in popularity.
The address shows the authors do accept how Bitcoin is transforming accounts for the better. The band-aid for Santander and blow of the banks anxious with Bitcoin’s benefits is to actualize their own blockchains. The catechism is: are bequest institutions too late? The Bitcoin arrangement is now seven years old, and one of the best trusted broadcast ledgers to date, as able-bodied as a $10 billion industry.
What do you anticipate about Banco Santander’s address on Bitcoin and blockchains? Let us apperceive in the comments below.
Source: Banco Santander S.A. Report
Images via Shutterstock, and Santander Report
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