As global banks are increasingly experimenting with the blockchain to search for possible use-cases that they can implement in its existing banking systems, CoinTelegraph has compiled a list of some of the most notable banking giants experimenting with Bitcoin’s underlying technology.
Some of the world’s most prominent banks including Citibank are even trying to create their own blockchain to facilitate transactions and settlements quickly. The following list will explore which big banks are closely studying and developing interesting use-cases for the blockchain.
Santander Bank, the world’s 10th biggest bank has found over 25 possible use-cases of the blockchain that could be implemented to traditional banking systems. Santander has also co-authored report in which they discovered that the integration of the blockchain technology could eliminate up to US$20 billion of banking costs.
DBS bank, a Singaporean bank with around US$9 billion annual income hosted a blockchain hackathon sponsored by IBM back in May. The hackathon offered US$33,000 in cash prizes and was sponsored by Startupbootcamp, Infocomm Investments, Coin Republic, and Ideator. Through the hackathon, the bank wanted to find use-cases of the blockchain technology that could help the unbanked