Published on November 19th, 2015 | by bitcoin0
Blockchain Database Could Transform Securities Says German Bank Association
The German banking industry association Bankenverband (BdB) recently said that it believes that blockchain technology may have a significant impact on financial markets.
The organization continued:
“Much more relevant to the developments in the financial services industry is that which lies behind bitcoin, the blockchain technology.
Blockchain technology has the potential to revolutionize the entire present-day settlement system in the securities sector.”
Still, the group cautioned that customer reactions to the technology “cannot be estimated today” and that commercial applications of blockchain technology may create “opportunities or risks”, making its assessment largely speculative.
BdB boasts more than 200 German banks as members, with more well-known members including Deutsche Bank and Commerzbank, institutions that are currently openly working on blockchain projects through a partnership with industry startup R3.