3 ms·
Being Bitcoin entusiast, IMO blockchains provide no benefits for banks. Blockchain is actually very ineffective protocol/data structure, and the reason Bitcoin
by dpc_pw 11y ago
Being Bitcoin entusiast, IMO blockchains provide no benefits for banks. Blockchain is actually very ineffective protocol/data structure, and the reason Bitcoin uses it is because it provides pseudo-anonymous network that removes need for trust. Also Blockchain can be trusted only combined with underlying unit of motivation and currency: Bitcoin (or other coins). Banks don't need pseudo-anonymity and can provide some level of trust. Protocols like Stellar / Ripple / Open Transactions and other non-blockchain digital accounting technologies are much better suited for banks.