/biz/ - Business & Finance

[Anonymous No.5929301]

I have a question for you so-called experts:
Why would blockchain be adopted by financial institutions? I haven't understood clearly why they should adopt a system just because it's decentralised when their centralised system has not major flaws?

[Anonymous No.5929412]

Bank transfers for example take several days and are costly to banks. Removing trust between the banks enables value transfer directly and quickly.

[Anonymous No.5929440]

i just keep reading about fees. wire payments especially and all those old systems from the 70s.

even the newer systems like eft and interac charges more than the potential of crypto.

if one bank gets in, then they'll have advantage against all the rest, so naturally all of them have to go in together.

[Anonymous No.5929740]

Banks are an even bigger ponzi that crypto.

[Anonymous No.5929779]

there is no real reason not to just use their own databases with traditional security and authentication.

basically it's just devs stringing along management so they can get paid to play with blockchains.