atans1

Using bitcoin technology

In Banks on 06/09/2016 at 5:36 pm

Blockchain is the technology behinf bitcon. And banks are studying how to use it to transfer $. Chart: How blockchain works

 

Banks say the greater safety that will come with a “golden record” of trades — one ledger that updates in real time as trades are executed.

There will be cost saving, as a fully synchronised and digitised settlement operation makes cumbersome, labour intensive back offices redundant

There will also be capital saving, as the time delay between transactions being executed and settled is reduced,

The problem: no reversal for honest mistakes, or fraud: transfer is transfer

 

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  1. No reversal for old school ATM or internet banking too.

    • Not really. Can show evidence u didn’t fo it and get refund. Blockchain means no evidence allowed or exists. If allowed defeats putpose.

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