Post
Topic
Board Bitcoin Discussion
Re: Santander: Blockchain Tech Can Save Banks $20 Billion a Year
by
EternalWingsofGod
on 16/06/2015, 22:01:52 UTC
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,the majority are the ones who just want to keep the profits for themselves.  Tongue

That is a lot of savings, the chances of it being passed to consumers is however very slim.
On the other hand it might allow smaller banks to remain competitive and scale up, such as credit unions.