Sunday, January 24, 2016

REVEALED: Why Big Banks are So Interested in the Blockchain Technolgy

It turns out that the blockchain technology (which drives Bitcoin) creates an environment that is easy for government to track transactions.

 Blythe Masters, former major player at JPMorgan, left the bank to start the blockchain firm Digital Asset Holdings.

Masters during an interview with The Australian Financial Review explained bankster interest in the technology (my bold):
Our investors, some of whom are large investment and commercial banks, are making a major investment in Digital Asset to help us develop solutions that will address reducing risk, reducing cost, improving transparency and offering new sources of revenue...

Rregulators were understandably initially concerned about the potential for blockchain applications to bypass certain controls, their thinking has evolved...

They are learning that distributed-ledger technology brings many benefits and efficiencies to wholesale financial markets, including reduced cost, reduced counter-party risk, reduced latency, enhanced security, increased transparency, ease of reporting, and reduced errors.  These are all important to regulators. 
This technology is offering regulators a bird's-eye view into activity in certain markets that they never had before. As such, distributed-ledger technology is actually an enhancement to transparency, rather than a mechanism for bypassing it.
Bitcoin operates on an extremely dangerous platform for those seeking anonymity.


1 comment:

  1. Bitcoin vs digital dollar transfers? Bitcoin is safer. Bitcoin vs Cash? Cash is safer.