THIRTEEN MORE TOP BANKS JOIN R3 BLOCKCHAIN CONSORTIUM
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http://www.reuters.com/article/2015/09/29/banks-blockchain-idUSL5N11Z2QE20150929?type=companyNews
" R3's Chief Technology Officer Richard Brown, who joined the company last month from IBM, told Reuters the technology could bring banks significant savings by making their systems more efficient and transparent, with less risk of error.
"Over decades banks and other firms have built systems for themselves ... and then a collection of processes has emerged between the banks ... to make sure these systems are kept synchronised and are reconciled with each other," he said.
"With shared or distributed ledgers perhaps we can imagine a world where participants share this infrastructure, so rather than everyone running their own systems that have to be reconciled, we can have ... an open platform that multiple firms can connect to." "
Good morning, all. Looks like there's more coverage on the big banks adopting Blockchain technology. Thanks, big banks, for helping to bring awareness to blockchain and cryptocurrency!!
It's funny how the attitude of the banks has done a complete turn around since last year.
I'm going to keep an eye on the Royal Bank of Canada (RBC) and Toronto Dominion Bank to see when they start offering mutual funds that contain cryptocurrency and blockchain companies. I have been an RBC customer for a very long time and they seem to start a mutual fund for everything 'new'. I'm guessing they will adopt the technology companies first and wait until they find a currency that is proven to be trustworthy and stable.
