8 Banking Giants Embracing Bitcoin and Blockchain Tech – CoinDesk

In its relative short history, bitcoin – and its underlying technology the blockchain – have captivated thinkers around the world, but not everyone was quick to see the potential.

Due in part to its initial billing as a threat to the traditional financial ecosystem, these institutions have perhaps understandably responded with sharp critiques and deep skepticism for the technology.

While major institutions found that bitcoin was perhaps problematic as a currency, they seem to increasingly believe that the blockchain, the protocol that manages and facilitates the exchange of bitcoin, offers benefits over their closed database systems.

With this in mind, big financial players have begun to come forward by discussing experiments with the bitcoin blockchain and other decentralized ledgers.

Though it remains to be seen how these experiments evolve, it’s clear that some of the world’s most famous banks are moving to leverage the technology.

Here are eight of the biggest institutions to go public with their interest so far:

1. BNP Paribas

BNP Paribas

French bank BNP Paribas is reportedly looking to into the possibility of adding bitcoin to one of its currency funds.

According to International Business Timesthe bank has been carrying out “beta testing” involving cryptocurrency and one of its Paris-based funds.

The bank’s possible involvement in the crypto space follows on from the publication of an article by one of its analysts, Johann Palychata. Writing for Quintessence, the bank’s magazine, Palychata noted that the blockchain could either create “total disruption” or improve world trading.

CoinDesk reached out to the bank for comment but no reply had been received at the time of press.

2. Société Générale (SocGen)


Another one of France’s banks – the third largest in terms of assets – is looking to hire a bitcoin-focused

Originally appeared at: http://www.coindesk.com/8-banking-giants-bitcoin-blockchain/