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I think of it as a tool (framework) and not a solution which will or will not replace something. Many banks have still old systems in place and for example, an

I think of it as a tool (framework) and not a solution which will or will not replace something. Many banks have still old systems in place and for example, an internal cryptocurrency could replace their current system for transactions. It's cheaper and safer than most of the current systems. A friend works at a big Swiss bank and they still transfer text files over SFTP with transactions. They have over 1000 people working in IT and I think they could easily lay off a couple hundred people if new, simpler and safer tools are working. That could also thrive adoption. I also like the idea of a bitcoin being a store of value, makes more sense than physical gold. And yes, anonymous money is always something there will be a need for.

mcintyre1994 8y ago
Not trying to be snarky, but what value does an internal cryptocurrency add over a good database? Or put another way, why do you think they haven't moved from SFTP to a database and why do you think a cryptocurrency would meet those demands better?
- patatino 8y ago
  They are required by law to be up and running again in 24 or 48 hours (don't remember exactly) if anything happens, otherwise, they lose their license. So they have a mirrored data center in a different place. It could be cheaper to just run a full node in every office they have (100+). They already have a database, the SFTP part is for partners they work with, other financial institutes. They haven't moved yet because it's an old system and it's expensive to write a new one. Obviously, it's also expensive to write a new one on the blockchain. All I'm saying is it could be considered in the future because you can create a secure, maybe cheaper solution with it. I think that is something that "could" drive adoption because if companies can save money they are more likely to use it.

mcintyre1994 8y ago

Not trying to be snarky, but what value does an internal cryptocurrency add over a good database? Or put another way, why do you think they haven't moved from SFTP to a database and why do you think a cryptocurrency would meet those demands better?

patatino 8y ago
They are required by law to be up and running again in 24 or 48 hours (don't remember exactly) if anything happens, otherwise, they lose their license. So they have a mirrored data center in a different place. It could be cheaper to just run a full node in every office they have (100+). They already have a database, the SFTP part is for partners they work with, other financial institutes. They haven't moved yet because it's an old system and it's expensive to write a new one. Obviously, it's also expensive to write a new one on the blockchain. All I'm saying is it could be considered in the future because you can create a secure, maybe cheaper solution with it. I think that is something that "could" drive adoption because if companies can save money they are more likely to use it.