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It doesn’t feel like a revolutionary moment. A member of a small team from the Swiss bank UBS, holed up on the 42nd floor of London’s Canary Wharf, taps a screen and a bond is sold by a company called ABC to an investor called XYZ.
It is the type of transaction executed millions of times a day by banks globally but this dummy transfer is different. It was completed via an internal blockchain, the shared database technology that gained notoriety as the platform for the crypto currency bitcoin. Banks are now racing to harness the power of the blockchain technology, in a belief that it could cut up to $20bn off costs and transform the way the industry works.
Learn more / En savoir plus / Mehr erfahren:
http://www.scoop.it/t/luxembourg-europe/?tag=Blockchain
http://www.scoop.it/t/luxembourg-europe/?tag=Bitcoin
http://www.scoop.it/t/21st-century-learning-and-teaching/?tag=blockchain
It doesn’t feel like a revolutionary moment. A member of a small team from the Swiss bank UBS, holed up on the 42nd floor of London’s Canary Wharf, taps a screen and a bond is sold by a company called ABC to an investor called XYZ.
It is the type of transaction executed millions of times a day by banks globally but this dummy transfer is different. It was completed via an internal blockchain, the shared database technology that gained notoriety as the platform for the crypto currency bitcoin. Banks are now racing to harness the power of the blockchain technology, in a belief that it could cut up to $20bn off costs and transform the way the industry works.
Learn more / En savoir plus / Mehr erfahren:
http://www.scoop.it/t/luxembourg-europe/?tag=Blockchain
http://www.scoop.it/t/luxembourg-europe/?tag=Bitcoin
http://www.scoop.it/t/21st-century-learning-and-teaching/?tag=blockchain