8 giant banks interested in Bitcoin

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Over its relatively short history, Bitcoin has become one of the most talked about technologies. Nevertheless, few have managed to discern the potential of the cryptocurrency.

Most banks find the use of the Bitcoin cryptocurrency itself problematic. Nevertheless, they are ready to apply crypto technologies (Blockchain) in their work, which greatly simplify the exchange of information and have a number of advantages over closed database systems.

The largest financial institutions that are interested in technology:

Bnp paribas

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French bank BNP Paribas is going to use Bitcoin in monetary funds.

A spokesman for BNP Paribas said: “We believe blockchain technology can be applied to trading processes, thereby making them faster and cheaper. However, so far all solutions using crypto technologies are in the state of projects."

Société Générale (SocGen)

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Another French bank - the third largest in terms of assets - has published a vacancy for an IT developer in the field of Bitcoin, blockchain and cryptocurrencies. The specialist will have to focus on research in this area.

Citi Bank

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Citi has asked the UK government to consider creating its own digital currency.

Citi's chief technology officer, Ken Moore, said the bank has been researching distributed systems for the past several years. Moore also noted that the bank built three blockchains and tested its Citicoin cryptocurrency in them.

UBS

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The Swedish investment bank has announced the opening of a blockchain technology research lab in one of London's largest financial districts. The main goal of the laboratory is to bridge the gap between traditional banks and innovative financial technologies.

Barclays

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The British bank is also going to research crypto technologies and has already entered into an agreement with the Swedish cryptocurrency exchange Safello. The aim of the study is to understand how blockchain can strengthen the financial services sector.

Goldman sachs

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Last year, Goldman Sachs published a report on digital currencies that highlighted the potential of blockchain technology, noting that cryptocurrencies will change the way transactions are conducted.

Banco santander

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Despite the fact that the head of the Spanish bank does not disclose the details of the experiment with the blockchain, the bank's venture fund predicts that the introduction of crypto technologies will reduce infrastructure costs by $ 15-20 billion annually.

Standard chartered

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A Standard Chartered employee shared his thoughts on Bitcoin and the blockchain on LinkedIn, claiming that these technologies will help reduce the cost of servicing credit cards and money transfers.
 
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