With so many banks publicly considering implementing Blockchain systems, have you considered this and if not, why?
Hi @jeff, definitely. In particular, we’re considering using a blockchain as database backend for our core banking ledger. We don’t really need our ledger to be decentralized, so I suspect we won’t end up using it for that.
There are several other useful applications of various blockchain technologies such as interbank transfers or payments between merchants, banks and customers. We’ll keep an eye on those and will integrate with them when there is something more specific to work with
Sounds interesting as long as you remember the nature of a blockchain means that the ledger is perminant; translations and balances cannot be just modified. So when your system makes a mistake the error cannot just be reverted and also in the case of fraud too.