Published on August 17th, 2015 | by bitcoin
0Bitcoin: The Newest Banking Headache
Here, in the first of a three-part series, he discusses how banks dealt with the emergence of the Internet and how blockchain technology is causing these institutions a whole new headache.
A recent flurry of media reports and surveys have touted that some banking and financial services sector players are undertaking interesting projects with blockchains and decentralized ledgers in particular.
Slow progress
Even when the banking sector took the Internet seriously, they did so very slowly, and without much innovation and without rocking the boat.
When I look at my online banking today, the features are mostly about convenience, but I can’t do too much beyond the basics.
Hello bitcoin, another banking headache
Bitcoin is the “Internet of money” after all, so that should have gotten a banker’s attention from day one.
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