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Blockchain in Banking

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What is the best approach for a bank to adopt blockchain? Can you elaborate some use cases, challenges and opportunities for a typical banking enterprise to adopt blockchain? 

Blockchain
Banking
cryptocurrency
Bitcoin
Financial Analysis
Technical Leadership
ethereum
Hitesh Mathpal
37 months ago

2 answers

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  • Banks could adopt blockchain for payments. Indeed some central banks (e.g. China and South Korea) are against this, but for example in Russia the discussion about the cyber-rublo is going ahead;
  • Trade finance is still based on paper but blockchain could be the next step for a modernisation;
  • Loans, on this case to the technology is helpful to speed up with communication and processes;
  • Check the identity of people and companies and keep a record of this;
  • Alternative to fiat currencies, in particular when inflation is high.
Paolo Beffagnotti
37 months ago
Good information Paolo. - Hitesh 37 months ago
Banking and Financial Services are early adopters of BC - Dr. David E. 24 months ago
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Thought that might help

Hitesh Mathpal
24 months ago
AGREED - No need to explain. BC is probably best suited for banking, CCs and financial sevices today. - Dr. David E. 24 months ago
BUT - it is not even close to suitability for healthcare. - Dr. David E. 24 months ago

Have some input?