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I think you might be confusing cryptocurrency with blockchain. Cryptocurrency uses blockchain but blockchain isn't cryptocurrency. Blockchain technology is al
by madamelic 9y ago
I think you might be confusing cryptocurrency with blockchain.
Cryptocurrency uses blockchain but blockchain isn't cryptocurrency.
Blockchain technology is already incredibly useful for banks doing interbank currency trading iirc.
I guess you could be talking about banks doing crypto trading, then I would guess that they are but a number are still stuck in the stone ages.
- agumonkey 9y agoI think they're using both, as a mean to scale for billion or more number of accounts.
- simias 9y agoUsing the blockchain, a technology that's shown to have trouble handling single digit numbers of transactions per second, to scale for billion of accounts? That's interesting. I wish people in this entire thread weren't allergic to providing citations and references though.
- nikcub 9y agoThere's nothing about blockchain's that prevents them from scaling beyond single digit transactions per second - you're referring to the design decision Bitcoin has made to opt for a smaller blockchain in order to ensure distribution and decentralization. A settlement blockchain between financial organizations doesn't have the same design parameters, and could conceivably run larger blocks, shorter block times, or not store block history at all but rather reach consensus on state (which is what Ripple does)
- agumonkey 9y agoI can't cite, it was a CS guy working for a large bank explaining us why they were paying him. Calm down
- base698 9y agoBanks are doing more than just blockchain now: https://techcrunch.com/2017/09/28/fidelity-ceo-abigail-johnson-says-the-company-is-mining-cryptocurrencies/ https://techcrunch.com/2017/09/28/fidelity-ceo-abigail-johns...
- tlrobinson 9y agoA “blockchain” without a cryptocurrency facilitating decentralization and incentivizing security doesn’t solve any new problem.