THELOGICALINDIAN - Santander Innoventures a US100 actor armamentarium of the billion dollar banking academy Spanish Santander Group has appear a analysis cardboard blue-blooded The Fintech 20 Cardboard rebooting banking casework to appraise the advantages of broadcast balance as a transaction and asset adjustment platform
The decentralized and cellophane attributes of the broadcast balance technology of Bitcoin, additionally accepted as the blockchain technology, allows anyone on the arrangement to almanac or accredit accurate and bounden certificate or asset autonomously.
Bitcoin is one of abounding different applications congenital on the broadcast balance technology. As aegis able and columnist Andreas Antonopoulos explains, “saying bitcoin is a bill is like adage the Internet is email. Bill is aloof the aboriginal application. Bitcoin as a bill is alone the beginning.”
In its anew appear publication, Santander Bank and its all-around adventure basic armamentarium Innoventures explores the abeyant of the broadcast balance technology as a cross-industry all-around banking platform, which allows banks and banking institutions to accredit buying and bright affairs after intermediaries or third affair applications.
“Distributed ledgers annihilate the charge for axial authorities to accredit buying and bright transactions. Broadcast ledgers can be open, acceptance bearding actors in the network, or they can be bankrupt and crave actors in the arrangement to be already identified. The best accepted absolute use for the broadcast balance is the cryptocurrency Bitcoin,” says the bank.
Currently, the coffer is abundantly attractive into a blockchain-based acute affairs and allotment platform, which could potentially acquiesce any alignment to achieve abstract assets and admission actual annal of affairs in one distinct platform.
“Almost any abstract certificate or asset can be bidding in cipher which can be programmed into or referenced by a broadcast ledger,” explained the bank.
The coffer is additionally advancement abutting relationships with bitcoin startups mentored and accelerated by its adventure basic armamentarium Innoventures, to advance blockchain-based applications that could enhance and optimize absolute cyberbanking systems and infrastructure.
