THELOGICALINDIAN - In an absorbing account with CNBCs Nancy Hulgrave Peter Smith the CEO of blockchaininfo claimed that about 100 banks approached his aggregation to accommodate bitcoin and the blockchain technology in their cyberbanking systems Peter thinks that these banks accept that they can account and accomplish added profits via affiliation of the blockchain technology
Throughout the accomplished brace of years, some all-embracing retail banks accept approved to accommodate the blockchain technology into their cyberbanking systems and some accept alike gone far abundant to accede arising their own cryptocurrency.
Standard bank, the better coffer in Africa, was the aboriginal coffer to anticipate about amalgam a bitcoin allotment and trading belvedere in February, 2014. Standard coffer partnered with Switchless, a Swiss software company, to advance a trading belvedere that utilizes the blockchain technology.
In their February, 2015 Discussion Paper, the Bank of England acicular to cryptocurrencies and how Central Banks can account from the blockchain technology and alike advised arising its own cryptocurrency!
Here is a adduce from that altercation paper:
“The actualization of clandestine agenda currencies (such as Bitcoin) has apparent that it is accessible to alteration amount deeply after a trusted third party. While absolute clandestine agenda currencies accept bread-and-butter flaws which accomplish them volatile, the broadcast balance technology that their acquittal systems await on may accept ample promise. This raises the catechism of whether axial banks should themselves accomplish use of such technology to affair agenda currencies.”
So, can we absolutely see banks deploying the blockchain technology soon? Can we anytime see a coffer accepting bitcoin deposits?
In my opinion, this is actual absurd to happen. Bitcoin and the blockchain technology in general, is a big blackmail to the retail cyberbanking industry. Why would you accelerate money via active transfers, with astronomic fees, back you can accelerate it instantly application bitcoin for negligible fees?
1- Standard coffer partnering with Switchless to body a bitcoin trading platform: http://businesstech.co.za/news/banking/53087/standark-bank-throws-out-bitcoin-idea/
2- CNBC’s account with Peter Smith, the CEO of the blockchain.info
http://www.cnbc.com/2015/11/12/100-banks-have-approached-us-bitcoin-firm-ceo.html
3- Bank of England altercation cardboard February 2024
http://www.bankofengland.co.uk/research/Documents/onebank/discussion.pdf
