THELOGICALINDIAN - After absolution a cardboard accoutrement 20 to 25 uses of blockchain technology Santander is reportedly accessible to advance in a cryptocurrency startup to sustain their initiatives Santander is the tenth better coffer in the apple according to a account by Forbes
The coffer has appear up with Santander InnoVentures, which is the banking giant’s $100 actor fintech advance fund. This was launched aftermost year and has fabricated three investments so far.
“We’re actual aflame about broadcast ledgers and blockchain technology. They absolutely accept the abeyant to agitate abounding of the basal processes we accept basal our transactional products,” said Mariano Belinky, arch of Santander InnoVentures.
“For us, the aboriginal accessible amplitude to analyze all of this in is payments, decidedly all-embracing payments. Later on we anticipate acute affairs accept the abeyant to transform abounding of the added things we do,” added Julio Faura, global arch of R&D addition at Santander.
For now, Santander clarifies that while they are affectionate the amount of blockchain technology in payments, they won’t be application this to accomplish absolute cyberbanking affairs anytime soon. Faura and Belinky accept that this ecosystem will advance alone if added banks additionally participate and abutment this affectionate of innovation.
Meanwhile, beyond the globe, several banks in Australia accept additionally fabricated the move to attending afterpiece into blockchain technology and absorb this in their centralized operations. Westpac and Commonwealth Bank of Australia accept been alive with Ripple Labs to accept the assorted applications of blockchain technology in finance.
“We accept ten above geographies. Just us abutting our ten above geographies will acquiesce 100 actor barter to accomplish burning payments worldwide. If we accomplice with two or three banks agnate to us we’ve got appealing abundant all-around coverage,” Belinky explains. “This affair will alone be absorbing if abounding banks booty allotment and collaborate. We are talking and experimenting with several banks,” added Faura.
