On the contrary. They’re pouring money into developing their own “digital currencies,” as they call them. Just don’t call them “cryptocurrencies.” Blockchain i

On the contrary. They’re pouring money into developing their own “digital currencies,” as they call them. Just don’t call them “cryptocurrencies.” Blockchain is to (some) cryptocurrencies as security paper is to paper money. Nobody calls your Passport "paper money", even if it is made of security paper just like your $10 bill. Settlements could be executed almost instantaneously on a bank-by-bank basis rather than having to be netted at the end of each working day by the respective central bank Guess the author isn't aware about how bank transfers happen around the world. Many places aren't locked in banking pre-history like the US. EU, Brazil, India, all have "almost instantaneously on a bank-by-bank basis" transfers. But perhaps the biggest area of interest for commercial banks is in the field of customer and counterparty identification and verification. This is where blockchain actually matters. All the currency stuff is BS.