Deutsche Bank backs blockchain technology for revolutionising banking


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.


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.