Quote from: Slark on June 16, 2015, 08:19:37 PM

Quote from: melody82 on June 16, 2015, 08:12:08 PM

Quote from: ChrisPop on June 16, 2015, 05:30:32 PM

Blockchain technologies could reduce banks' infrastructural costs by $15-20bn a year by 2022, a new report from Santander InnoVentures claims.

http://www.coindesk.com/santander-blockchain-tech-can-save-banks-20-billion-a-year/

Do you realise how much money is that? With such savings,the bank could raise bank deposits interest rate or lower the loans interest. That refers only to some banks,there are some who just want to keep the profits for themselves.

You are kidding right? Can you seriously imagine banks passing those savings on to consumers? No they will pass the extra money right back into their own pockets just like they always do!

I think nobody is stupid enough to think that saved money with blockchain tech will help customers, people in need or anyone but banks. It will be a waste and it will only make financial elites even richer.
But I wonder how they will manage their own blockchain. Will they provide computing power themselves and it will be private blockchain?

Are you saying there isnt meaningful competition between banks? Competition usually forces savings to be passed onto consumers.