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Is this really something all banks want? Well I don't want a blockchain for my private transactions where people can see what I pay for. I'm ok for it with larg
by therealmarv 11y ago
Is this really something all banks want? Well I don't want a blockchain for my private transactions where people can see what I pay for. I'm ok for it with larger interbanking transactions but not every company or bank wants to reveal every granular transaction. Or do I understand it wrong?
- petra 11y agoIts easy to aggregeate transactions in order to hide most of the detail.
- Johnie 11y agoThis is useful for trading settlements between the banks. A lot of what investment banks (as opposed to commercial banks) do is trading OTC securities. BlockChain reduces the amount of paper work needed to manage these securities.
- kuschku 11y agoBanks don’t even process those large transactions directly – they just use the Giro system, meaning each bank tracks how much money they have in debt to every other bank, and every month, they actually send that money over. So these inter-bank transactions won’t actually contain stuff like personal transfers.