Deutsche Bank backs blockchain technology for revolutionising banking


#1

The technology that underpins systems of virtual currency could be used to speed up the processing of payments and help banks meet regulatory reporting obligations in a more efficient way, Deutsche Bank has said.

Blockchain is best known in relation to bitcoin but it can also be described as a public ledger solution with storage capacity that is secured by cryptography and a system of algorithmic problem-solving.
Earlier this summer, financial services and technology law expert John Salmon said that blockchain technology “looms as a possible answer” to the problem financial services face in customer identity verification, with the increasing digitisation of services.


#2

This would help out banks so much, if they were able to use Blockchain. I’m sure that soon enough most all banks will be using it.