Block Chain: Banks want Bitcoin technology for themselves to use
Nine of the largest investment banks in the world are planning to develop a common standard based on the block chain. Thus, the technology could behind the cryptocurrency Bitcoin soon have a huge impact on the international financial business. The participating banks include Goldman Sachs, JPMorgan, Royal Bank of Scotland, UBS and Credit Suisse.
In order to implement its plan, the banks have teamed up with the New York startup R3. Together they want to develop prototypes and protocols based on the block chain. The plan: Based on the block chain technology it is for the banks to be possible to safely store data outside their closed networks, where they can be analyzed if necessary and compared
block chain, finance careers. Exact march direction remains unclear
Exact plans for use of the block chain does not yet exist. The participating banks will initially concentrate their development efforts in this area only under the direction of R3 to jointly develop concepts and test. By coordinating their efforts, the banks want to save for a money, on the other hand, of course, develop a common standard
Also interesting in this context, our article “The technology is behind Bitcoins:. As Block Chain the could change the internet forever. “